Learn how LLCs can set up a SEP IRA for retirement savings. Understand eligibility, contribution limits, and key considerations for business owners and freelancers.

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Ebony Howard is a certified public ...

Key takeaways IRAs are a tax-advantaged way to save for your future. You can open an account even if you’re also investing ...

What advisers need to know about Solo 401(k)s and SEP IRAs. For self-employed individuals, freelancers, and small business owners without full-time employees, securing the right retirement plan can be ...

About 16.5 million people in the U.S. are self-employed, according to 2023 data from the Bureau of Labor Statistics. For many of these workers, planning for retirement has its own quirks and ...

Self-employed workers and small-business owners who want an easy and inexpensive retirement plan should consider a Simplified Employee Pension IRA, or SEP IRA for short. SEP IRA plans are easier to ...

Anyone, and I mean anyone, can become an IRA millionaire if given enough time. According to Fidelity, the number of IRA millionaires on its platform has grown 40% over the past year. That figure doesn ...

Retirement plans, like simplified employee pension (SEP) IRAs, go hand-in-hand with attractive tax benefits. Designed for self-employed individuals and small business owners, SEP IRAs allow employers ...

How Does a SEP-IRA Work? A listener named Wasittha asked me the following question: “I’ve been trying to max out my IRA and 401(k). However, I’ll be unemployed next year for a while–hopefully not for ...