Carry Learning Center

If you’re working independently as a life coach, you may be wondering how to set up a retirement plan outside of traditional employment. The good news: yes, life coaches can open a Solo 401k, as long as you report self-employment income and don’t have full-time employees (other than your spouse). [...]

Are you a therapist running your own practice and wondering if you can open a Solo 401k? If you earn self-employment income from your therapy services and don’t have any full-time employees, you’re likely eligible. A Solo 401k could offer much higher contribution limits than traditional retirement accounts — along with valuable tax advantages. Whether you’re [...]

Choosing the right 401k plan for your business can feel complicated. A Safe Harbor 401k plan is one option that could help simplify things. It’s designed to help employers meet IRS requirements without going through annual nondiscrimination testing. In most cases, this type of plan also encourages employee participation by offering required contributions and faster [...]

Saving in a Solo 401k offers self-employed individuals both high contribution limits and flexible tax planning. But taking money out of the plan comes with its own set of rules. Without proper timing or strategy, you could trigger taxes, penalties, or unnecessary paperwork. This guide breaks down eight common ways to access your Solo 401k funds. [...]

Thinking about retirement while growing your fitness business? If you’re a personal trainer working for yourself — whether in a private gym, from home, or online — you might be wondering how to build long-term savings on your own terms. A Solo 401k could be a flexible and tax-efficient option, especially if you don’t have full-time [...]

OVERVIEW The average total 401k savings rate (employee + employer) is now 14.3 percent, according to Fidelity. Nearly 95 percent of Vanguard participants use a target-date fund as their primary investment. Index funds in many plans charge just 0.05 to 0.10 percent in annual fees. Excessive-fee lawsuits against plan sponsors rose 35 percent in 2024. A simple three-fund mix — [...]

If you work as a marketing consultant and run your own business—even as a one-person operation—you may be eligible for a retirement plan designed specifically for self-employed professionals: the Solo 401k. This type of plan offers high contribution limits, Roth options, and flexible investment choices. But not every business qualifies. So let’s take a closer look [...]

Selling on eBay can offer a flexible path to self-employment, whether you’re flipping collectibles, managing a niche online store, or running a full-time resale operation. But as your income grows, so does the importance of planning for the future. If you’re a self-employed eBay seller, a Solo 401k could be one way to set money aside [...]

Imagine reducing your next taxable income by as much as $7,000, simply by changing how a portion of your paycheck is allocated.  Pretax contributions allow you to direct part of your earnings into a traditional IRA or 401k before income taxes are applied. This may reduce your taxable income today, and your savings can potentially grow [...]