Retirement accounts are powerful financial tools that allow you to save for retirement 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.
The good news is that whether you’re self-employed as a full-time freelancer (like me), 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.
Laura covers the pros, cons, and contribution rules of different retirement accounts for freelancers on GoBankingRates. 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.