Home Base: A 401(k) Option for the Self-Employed
Sole proprietors and owners of owners of home-base businesses are less likely to own IRAs or participate in 401(k)/Thrift plans, according to a study released by the Small Business Administration in March. If you’re trying to figure out a retirement vehicle, a Self Employed 401(k), also known as a solo 401(k), can offer some of the benefits of a regular 401(k) but with the flexibility necessary for the self employed.