Harness the Power of 401(k) Plans as a Solopreneur

Introduction: As a solopreneur, planning for retirement might seem daunting. However, understanding and utilizing a 401(k) plan can secure your financial future. In this article, we’ll explore the benefits of 401(k) plans and how they can work for you.

What is a 401(k) Plan? A 401(k) plan is a retirement savings plan that allows employees to save and invest a portion of their paycheck before taxes are taken out. The funds in the account grow tax-deferred until they are withdrawn during retirement.