Pros and Cons of 401(k) Plan FLYING SOLO with a 401(k) Plan An individual (also known as a solo or one-participant) 401(k) plan may be a suitable choice if you are self-employed or own a small business with no employees (other than your spouse) and want to establish a tax-favored retirement plan. Below are some pros and cons associated with an individual 401(k) plan. GENEROUS CONTRIBUTION LIMITS An individual 401(k)
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