What is a retirement plan that a self-employed individual can establish?

Question

Quizplus · Accepted Answer

All of the options are correct as they are retirement plans that can be established by self-employed individuals. However, the best choice(s) may vary depending on individual circumstances such as income, age, and retirement goals. A financial advisor can provide guidance on which retirement plan would be most suitable for a self-employed individual. Generally, an Individual 401(k) or SEP may offer higher contribution limits, while an IRA may be a simpler and more flexible option with lower contribution limits.

What Is a Retirement Plan That a Self-Employed Individual Can