Individual 401(k) Illustration
If you are a self-employed individual or small business owner with no full-time employees (other than your spouse), then an individual or "solo" 401(k) will allow you to maximize retirement contributions by combining 401(k) compensation deferral with profit-sharing plan contributions. Depending on the amount of self-employment or small business income you want to defer, an individual 401(k) may be an attractive option.
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