How can freelancers save for retirement?
The ideal choice is a solo 401k, often known as an individual 401k or self-employment 401k. It lets you be both an employee and an employer. Employee contributions are the same as what other people do when working for a company. Payments from your employer get calculated as a percentage of your net freelancing earnings. It’s the best option because you can contribute from both sides. Other alternatives, such as a SEP-IRA, only accept contributions from employers.