Self Employed 401k

Thanks to a bit of federal legislation passed in 2001, self-employed people now have a powerful tool for sheltering savings - a lot of savings - from the tax collector. The self-employed 401k, also known as a solo 401k or Individual 401k, lets self-employed business owners sock away as much as $51,000 a year (under 2008 limits) into a personal 401k account. This gives entrepreneurs a huge opportunity to build their investment portfolio.