finances can be complicated but they don't have to be i break down financial topics that may seem

complex and overwhelming so you can start taking action on your financial goals i'm a

tally and it all starts here on personal finance redefined.

Welcome back to another episode of the podcast.

Today is an awesome question I got from a listener.

It's about self-employed benefits.

So SEP IRAs versus Solo 401ks, what should you do?

What do I do with these funds?

They sound confusing. And the financial industry puts all this jargon to make it complicated.

So let's break it down.

So if you're a small business owner or maybe you see yourself as an entrepreneur, well, whether

you're currently a business owner, you want to go into business for yourself, or you just

enjoy learning about the different accounts available

to business owners and the benefits involved, this episode's all about you. So at the end of 2019,

there were 30% of American workers that were self-employed. The coronavirus pandemic only accelerated

the trend towards self-employment, and now that so many individuals have the

ability to work from home, they've gotten to do a trial run where they can work for their

company, but think about what it would be like if they work from home. So of course, COVID's

done more bad than good for most people, and it's extremely sad what's happened to so many people,

but for those who have always dreamed of being

self-employed or becoming self-employed, it was an oddly fortunate time, which sounds a little weird to say.

One of the major reasons, individuals, not major, I would say one of the prime reason, and it's definitely a

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