Free-agenting achievement unlocked. Did the paperwork to set up a self-employed 401(k) after a record 5 years of paperwork procrastination. Shoulda done this years ago.
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It’s 2 forms, 20 minutes. Another 10 if you need to get an EIN. I did it on Fidelity since I already have my other accounts there. Need to establish by Dec 31 to make contributions this year. Just do it. It’s a much better deal than I thought
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I considered that, but accountant recommended this instead. SEPs are an older instrument. Good for one-off contributions but Solo 401ks are apparently better for sustained contributions
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