I'm self employed (I have single-member LLC). I already contribute to a Roth Ira and I was considering to open a SEP IRA or Solo 401k. I was reading that a SEP IRA has lower contribution limits but it's easier to set up compared to a Solo 401k and it gives more flexibility if one I year I don't want to contribute . What else do I have to consider before I decide to open a SEP IRA? Can I open it myself or it's better to have someone that helps me manage it? Can I do all the contributions as a lump sum at the end of the year to lower my taxable income or I have to pay it regularly throughout the year?
