As a self-employed person, which retirement account lets you contribute more and save more on taxes?
Fidelity offers a free Self-Employed 401(k) with no account fees, no minimums, and access to thousands of investment options.
Open Fidelity Solo 401(k) →| Feature | SEP IRA | Solo 401(k) |
| 2026 Max Contribution | $70,000 or 25% of W-2 | $70,000 ($77,500 if 50+) |
| Employee Deferral | None | $23,500 ($31,000 if 50+) |
| Roth Option | No | Yes (Roth Solo 401k) |
| Loans Allowed | No | Yes (up to $50k) |
| Best For | High income (>$200k), simple | Most self-employed under $200k |