Comparing Retirement Plans For Self-Employed Individuals

money for your retirement plan

Startups and freelance work are slowly gaining ground, especially with the Internet making inroads into different walks of human life. Though self-employment presents multiple benefits such as increased autonomy and flexibility, there are negatives to this line of work too. The biggest drawback perhaps is taxes or most people’s inability to manage them. Invariably, self-employed individuals end up remitting two times the taxes salaried employees pay; these include Medicare and Social Security taxes. The other disadvantage is there isn’t any proper or organized employee benefit plan such as a retirement…

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