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Optimizing Retirement Savings with a Solo 401(k)
The chapter explores the benefits of a solo 401k for self-employed individuals, focusing on its flexibility, higher contribution limits, and combination potential with a Roth IRA. It provides comparisons between a solo 401k and a SEP IRA, emphasizing tax advantages and maximizing retirement savings. The importance of consulting a tax advisor for personalized advice on retirement planning and transitioning between retirement plans is underscored.