Planning Ahead

Saving For Retirement

What if I am self-employed, is there a similar program for savings for retirement?

Yes, self-employed people may open an individual retirement account (IRA), and contribute up to $5,000 per year if you are under 50, or $6,000 per year if you are over 50. There are several types of IRAs that are described on pages 74 to 75 of this book.


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