Retirement accounts are powerful financial tools that allow you to save for the future and cut your taxes at the same time. They’re brilliant. But if you work for yourself, or don’t have a traditional day job with a 401k, you might think it’s impossible to save for retirement as a freelancer.
The good news is that whether you’re self-employed as a full-time freelancer, or if you dabble in a part-time business on the side, there are plenty of options to save for retirement. Depending on your work and financial situation, you may qualify for several different types of retirement accounts all at once.
Even if you have irregular income as a freelancer or small business owner, it’s important to get in the habit of saving for retirement on a regular basis as early as possible. The more accounts you use, the bigger your nest egg can be for retirement.
If you’re ready to save for retirement without having a 9-to-5 job, follow these three tips that Laura covers for GoBankingRates.com. Click here to read more.
Free Resource: For more clarification about the pros and cons of different retirement accounts, download the Retirement Account Comparison Chart (PDF), a handy reference tool that explains the rules on one page.
