Retirement planning for freelancers

No employer match, no automatic enrollment, no HR reminder every open enrollment. Building retirement savings as a freelancer takes a deliberate choice of account — here's how to make it.

Freelancers actually have access to some of the most generous retirement accounts available in the tax code — a SEP IRA or Solo 401(k) can allow contributions many multiples higher than a typical employee's 401(k) limit, because contribution room is tied to business income rather than a single fixed employee cap.

The tradeoff is that nobody sets it up for you automatically. This section compares the two most common self-employed retirement accounts, explains contribution limits in plain numbers, and covers how to keep saving consistent when income isn't.

Jar of coins representing retirement savings

Start here

Retirement guides

Piggy bank representing a retirement plan

Cornerstone guide

SEP IRA vs Solo 401(k): Retirement Plans for Freelancers

Contribution limits, tax treatment, and how to decide between the two.

11 min read

Guide

Roth IRA for Freelancers

Income limits and how it pairs with your main plan.

7 min read

Coins stacked representing retirement savings

Guide

How Much Should Freelancers Save for Retirement

A practical percentage-based target.

8 min read

Guide

SIMPLE IRA vs SEP IRA

For freelancers who've started hiring.

8 min read

Guide

Solo 401(k) Contribution Limits by Example

The two-layer structure, worked out.

8 min read

Guide

Retirement Savings Between Gigs

What happens to your accounts during a slow stretch.

6 min read

Keep going

Guide

Health Insurance Options

Benefits planning goes hand in hand with retirement.

Guide

Budgeting on Irregular Income

Build consistent contributions into your budget.

Guide

Quarterly Estimated Taxes Guide

Retirement contributions can lower your taxable income.

FAQ

Common retirement questions

There's no single best account — a SEP IRA is simpler to administer, while a Solo 401(k) usually allows higher contributions at the same income level and can include a Roth option. Many freelancers choose based on how much they want to contribute and how much paperwork they want to manage.

A SEP IRA allows contributions up to 25% of net self-employment earnings (after certain adjustments), up to an annual dollar cap set by the IRS each year.

Yes, these are separate account types with separate rules, and many freelancers use a Roth IRA alongside a SEP IRA or Solo 401(k), subject to Roth income eligibility limits.

Retirement accounts like SEP IRAs and Solo 401(k)s belong to you, not a specific contract or client, so they continue to exist and can still be contributed to (based on that year's self-employment income) regardless of gaps between projects.