Expert-Reviewed Freelancer Insurance Guide

Freelancer Retirement Calculator | Solo 401k vs SEP IRA

Freelancers have access to powerful retirement accounts — Solo 401(k), SEP IRA, and SIMPLE IRA — that can shelter far more income than employee 401(k)s. But without automatic payroll deductions, saving consistently requires intentional planning.

$72,000 — Solo 401k Max25% net income — SEP IRA Max22–37% — Tax SavingsUpdated July 2026
Retirement Planning
Within 6 Months

Key Things to Know: Freelancer Retirement Calculator

  • Solo 401(k) allows contributions up to $72,000/year (2026) — far exceeding the $24,500 employee 401(k) elective deferral limit
  • SEP IRA contributions are up to 25% of net self-employment income — simpler to administer than Solo 401(k)
  • Every $1,000 contributed to a pre-tax retirement account saves $220–$370 in federal taxes depending on bracket
  • The 4% withdrawal rule means you need 25× your desired annual retirement income saved at retirement

Freelancer Retirement Calculator — Free Calculator

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Freelancer Retirement Calculator
32
65
$20K
$0$500K
$90,000
$20K$500K
$5,000
$2K$20K

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Freelancer Retirement Calculator: What Freelancers Need to Know

Freelancers have access to powerful retirement accounts — Solo 401(k), SEP IRA, and SIMPLE IRA — that can shelter far more income than employee 401(k)s. But without automatic payroll deductions, saving consistently requires intentional planning.

$72,000
Solo 401k Max
2026 contribution limit
25% net income
SEP IRA Max
up to $72,000
22–37%
Tax Savings
of contribution amount

Frequently Asked Questions: Freelancer Retirement Calculator

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Disclaimer: All calculations are estimates based on industry averages and publicly available data. This tool is for educational purposes only and does not constitute insurance, financial, legal, or tax advice. Consult a licensed insurance broker and financial advisor for personalized recommendations.