Are You Self-Employed? Want to Save for Retirement? The Solo 401(K)

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Are You Self-Employed? Want to Save for Retirement? The Solo 401(K)

If you are self-employed and don’t have employees, a solo 401(k) may be the very best way for you to save for retirement and reduce your current income taxes. Depending on your profits, you could put a whopping $52,000 away on a pretax basis per year. You also have the ability to borrow half of your balance up to $50,000, whichever is lower.

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