Just like with IRAs for individuals, there are various types of retirement plans designed for small business owners. The most popular plan options for small business owners are SEP IRAs, SIMPLE IRAs, and Individual 401(k)s.
Whether you're self-employed, with a staff of 1 or 100, these self-directed IRAs offer two big incentives to encourage business owners to make retirement saving a priority:
1) There are significant tax benefits and advantages associated with these retirement accounts.
2) With the freedom of a self-directed account, you can choose your own investments. Choose from the traditional stocks and bonds, as well as a wide range of alternative investments, such as real estate, gold, and private stock.
As a business owner, compare retirement plans to determine which is right for you. See how you can defer taxes on retirement savings, compare plan benefits and get started with a plan that is easy to set up and manage.