Retirement Savings

Working (and Saving) for Yourself

January 14, 2019
Being your own employer can be demanding, but saving for retirement doesn’t have to be.

Key Points

  • Self-employed individuals and small business owners can choose from several different low-cost retirement plans.
  • Some plans prioritize ease of use, while others allow for higher contributions.
  • All plans are simple to set up and offer the benefit of tax-deferred growth potential.

Time is a scarce resource for everyone. This may be especially true when you're self-employed and facing the all-consuming challenge of running your own business.

Given the demands on your time and energy, you may find that saving for retirement isn’t getting the attention it deserves. To help determine the best savings options for your personal and financial circumstances, consider a retirement plan designed for the self-employed.

T. Rowe Price offers an array of plans that are easy to set up and maintain. Depending on your situation, one of the plans may meet your needs better than the others. No matter which one you choose, you can benefit from investing in a tax-advantaged account with compound growth potential.

Explore Your Options

The following chart highlights some of the features and benefits of four small business retirement accounts offered by T. Rowe Price. Setting up an account is easy, and you can administer and manage it online.

Small Business Retirement Plan Options

A side-by-side comparison of T. Rowe Price retirement plans.


Visit for more details on small business retirement plans, including information on 2018 contribution limits.

1The maximum deductible contribution for federal income tax purposes.
2The maximum amount of compensation that can be used in determining contribution is $280,000 for tax year 2019. This amount is increased periodically for inflation.
May be as low as 1% in no more than 2 years out of 5 consecutive calendar years.
Contributions may or may not be deductible.


Next Steps:

  • Learn more about retirement options available for the self-employed and small business owners, or call 1-800-341-1208 to speak with a Retirement Specialist.