A niche retirement plan favored by freelancers is quickly becoming a hot Wall Street sales pitch, as more and more Americans look for ways to shelter a bigger chunk of their paychecks from taxes.
Known as solo 401(k)s, they allow the self-employed to contribute $72,000 a year into tax-advantaged retirement accounts. That’s nearly three times the maximum for typical salaried workers in the US.
While they’ve existed for decades serving a workforce that often struggled to earn enough to max out those contributions, wealth planners like