Retirement Savings Options For Solopreneurs Or Independent Contractors

If you are working for yourself, it can be difficult to decide how to save for retirement. Most people I meet understand the need for retirement savings. Social Security is not designed to replace your entire income and pensions have become rare over the years. This leaves a savings gap that many employees at companies opt to fill with a 401(k) plan.

Working for yourself, you don’t have a company making your retirement plan decisions for you. This opens a lot of options for retirement savings, which can lead to some paralysis by analysis. This article will discuss a few of the retirement savings options for solopreneurs and independent contractors and when they can be appropriate.