November 3, 2022

What is a Solo 401k? Is It the Best Self-Employed Retirement Option?
What is a Solo 401k? Is It the Best Self-Employed Retirement Option?

To understand the contribution limits, you need to remember that as a self-employed person, you are both employee and employer.  The total solo 401k contribution limit for 2021 is $57,000 in 2020 and $58,000 in 2021 with an additional $6,500 catch-up contribution if you are 50 or older. Within that total contribution limit, there are…

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