What are Solo 401(k)s?

Solo 401(k) accounts are tax-advantaged retirement savings accounts that are available to self-employed individuals and their spouses. These accounts can be beneficial for individuals who may not have access to a traditional 401(k) plan, but want to maximize their contributions to retirement savings. This article can help you learn more about some of the advantages of Solo 401(k)s, as well as the similar SEP IRA.