Most people are familiar with a 401(k) or IRA. But did you know there are many types of retirement savings plans - including a few created exclusively for self-employed individuals?
Also, you can often contribute to more than one type of retirement account. For example, you may be able to contribute to both your 401(K) and an IRA.
Here are some quick links to help you learn more! And, of course, feel free to ask questions in our Community Retirement forum.
What to choose and what to do:
- What is a "qualified retirement plan"? - The basics for employer-sponsored plans.
- What Is the Savers Credit? - It’s another tax break on top of your regular retirement savings tax breaks! Who knew?!
- IRA vs 401(k): Which Should I Invest in First? - A quick overview to help you decide.
- What's the difference between a traditional IRA and a Roth? - Save tax now, or save tax later!
- How much of my Traditional IRA contribution is deductible?
Self-employed? You’ve got options!
BONUS:
Taxes in Retirement: 7 Tax Tips for After You Retire - RMDs, Social Security, tax breaks & more!
If you need tax advice or have questions that aren't answered in the links above, please ask in our Taxes forum that best fits your needs!
