SEP IRA vs. Solo 401(k): Which Is Better?

It's great being your own boss — until you have to wade through the alphabet soup of SEP IRAs and other retirement plans. Whether you're a full-fledged small-business owner, have a side hustle or receive 1099's as a freelancer or gig worker, there are several smart ways to save for retirement specifically designed for the self-employed.

Here's a comparison of two popular self-employed retirement savings plans: the solo 401(k) and the SEP IRA. See which option is right for your business and retirement planning needs.

https://www.kiplinger.com/retirement/retirement-planning/sep-ira-vs-solo-401k-which-is-better