I'm self-employed and recently inquired about finding an individual 401k that could match my 401k that I had when I was employed by a national firm. Being self employed shouldn't limit my ability to IRA's where I was only able to put away $3500.00 a year tax free. My age allowed me to take advantage of the additional $500.00 "catch up" clause(I'm 53). I never read about this important ability to max out tax free investments far above the IRA limits. I believe I'm able to have both the individual 401k and the IRA. I'm presently unclear what the upper limit is on contributions but I'll look in to it. If anyone has any input to this important investment opportunity I would welcome their feedback.
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