What tax-free retirement accounts are available for self-employed individuals?

Question

I'm self employed, so I've started to look at what my options are for saving (tax-free) for retirement. Of course I can do an IRA or Roth IRA, but those have lower caps than a 401k.

I had thought Simple-IRA was a 401k clone for the self-employed, but looking at the details now, it seems it's for small business employees instead.

What other options are there?

Answer 1

You can open a self-employed 401k, here's an example. You can deposit up to 50K (including the personal cap and the profit sharing/matching portion).