Set Up Solo 401k for Freelancers: Maximize Contributions
Note: General business guidance only—not legal, tax, or financial advice. Verify details with official sources and qualified professionals. Table of Contents Eligibility and Preparation for a Solo 401(k) How to Open a Solo 401(k) Account Solo 401(k) Contribution Limits for 2025 Maximizing Contributions as a Freelancer Solo 401(k) vs SEP IRA: Which Is Right for You? Final Checklist for Setting Up Your Solo 401(k) As a freelancer, you don't have access to an employer-sponsored retirement plan, but you can create your own. A solo 401(k) is a powerful retirement savings tool designed specifically for self-employed individuals with no employees (other than a spouse). This guide walks you through the process of setting up a solo 401(k) and maximizing your contributions, including the 2025 contribution limits and how to choose the right provider. Eligibility and Preparation for a Solo 401(k) Before you set up a solo 401(k), confirm you meet the eligibility requirements. You must be ...