Menu Close

Tag: Solo 401(k) or Self Directed IRA

Can I have a 401k and an IRA?

What is a 401k plan?
A 401k plan is something that your employer sponsors for you as an employee in order to have for retirement. You can save money in your retirement plan without having to pay any taxes on the money until you draw out the funds after retirement. The majority of people receive a lowered tax rate at retirement than if they draw out the money earlier so the savings are worth the wait.