simple IRA vs 401k

tivity606 — Tue, 24 Feb 2026 06:24:21 GMT

simple IRA vs 401k. which is better for self employed?

Re: simple IRA vs 401k

lferlazzo — Wed, 24 May 2023 22:28:00 GMT

Hi Tivity606:

while both plans can be used for the self employed there are advantages and disadvantages for both. see the attached link article regarding self-employed retirement plans.

https://www.irs.gov/retirement-plans/retirement-plans-for-self-employed-people

i find the simple ira is very easy to set up. if you are a single member, than the 401(k) plan would be a solo 401(k) plan.

you might also want to consider a sep plan which allows up to 25% of net earnings. the article link attached addresses both plans. Its all a matter of personal preference and how much you can afford to put aside.

hope this helps.

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simple IRA vs 401k

Re: simple IRA vs 401k