Worth It

This week on Worth It, Dustin and Danielle are kicking off a new series called “Self Employment + Retirement.” Over the next three weeks, they’ll be talking about everything entrepreneurs and self-employed people need to know about retirement, from savings to a work-optional lifestyle to what to expect when you retire. First, though, they’re talking about the different retirement savings options you have when you work for yourself — and they break each one down to determine which is best for you. WHAT YOU’LL LEARN 4:05 Why having a financial advisor can help with you choose between accounts 5:24 Four options for retirement accounts for self-employed individuals 5:48 Why 401(k)s may not be relevant to self-employed people 7:22 The nuts and bolts of an IRA 8:38 Why an IRA is like a “home base” for your savings 10:04 Special cases where you can pull money out of your IRA before retirement 10:28 How IRAs and Roth IRAs differ 13:54 The difference between SEP IRAs and SIMPLE IRAs 14:50 Using employee and employer c