Starting your own business means you must take the initiative to set up a retirement plan, which can be complex, especially when lacking knowledge about options.
A Redditor's experience highlights the importance of understanding various retirement plans available for self-employment, as not all require an S-corporation for benefits.
While 401(k)s are a common choice, self-employed individuals have multiple alternatives, each with distinct pros and cons that can suit different needs.
It's crucial to research and evaluate retirement plan options beyond the traditional 401(k), as each has unique regulatory requirements that can impact your retirement savings.
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