Why a Solo 401(k) Offers Big Savings and Tax Breaks for the Self-Employed

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 This kind of retirement account could let you save a lot of money very quickly. Odua Images / Shutterstock.com

If you are self-employed (or could be), you should know about a unique retirement savings opportunity: the solo 401(k), also known as the one-participant 401(k) plan, or the individual 401(k). In fact, the advantages of this savings vehicle are so great that it may be worthwhile to start your own business.

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