Leaving a job often means leaving behind the 401(k) match and the health plan. The good news: the self-employed have powerful options for both — sometimes better than an employee's. The catch is that you have to set them up yourself. Here's the map.
Retirement plans built for you
Options like a SEP-IRA or Solo 401(k) let self-employed people save for retirement — often with higher contribution limits than a regular workplace plan. Setting one up also has tax advantages worth understanding.
Health coverage without an employer
You can buy coverage through the Health Insurance Marketplace, and depending on income you may qualify for premium tax credits that lower the cost. There's also a self-employed health-insurance deduction many people miss.
Build your own safety net
Disability and life coverage, an emergency fund, and simple recordkeeping replace the quiet protections an employer used to provide. None of it is complicated — it just has to be chosen on purpose.
Verify every step at the official source
Don't take anyone's word for the rules — including ours. Confirm current details here:
- IRS.gov — self-employed retirement plans
- HealthCare.gov — coverage and premium tax credits
- SSA.gov — how self-employment counts toward benefits
Replace every benefit you left behind
TROVELL's Self-Employed Edition lays out the retirement and health options for working for yourself — plainly, and verified at the source.
Browse the Reference LibraryThis article is general information for educational purposes only. It is not legal, medical, tax, or financial advice, and it does not tell any reader what to do. Rules and benefits change and vary by state — confirm your situation with a licensed professional and at the official sources above.