Retirement Plans for the Self-Employed

By contributing to any of these plans, you will build a nest egg and lower your tax bill.

I have had an IRA for years (since I left Kiplinger's as a full-time employee and became a contract worker). But as my husband and I estimated our tax bill for 2010, we realized we could save big on taxes if I contributed to other types of accounts, rather than limiting myself to the $5,000 contribution limit on my IRA.

But what retirement-plan options are there for self-employed people other than an IRA? Plenty. And contributions are tax deductible.

Subscribe to Kiplinger’s Personal Finance

Be a smarter, better informed investor.

Save up to 74%
https://cdn.mos.cms.futurecdn.net/hwgJ7osrMtUWhk5koeVme7-200-80.png

Sign up for Kiplinger’s Free E-Newsletters

Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.

Profit and prosper with the best of expert advice - straight to your e-mail.

Sign up

To continue reading this article
please register for free

This is different from signing in to your print subscription


Why am I seeing this? Find out more here

Cameron Huddleston
Former Online Editor, Kiplinger.com

Award-winning journalist, speaker, family finance expert, and author of Mom and Dad, We Need to Talk.

Cameron Huddleston wrote the daily "Kip Tips" column for Kiplinger.com. She joined Kiplinger in 2001 after graduating from American University with an MA in economic journalism.