If you’re self-employed, you will need to handle your personal finances differently from people who work for other businesses. You’ll also have to handle your taxes differently. The following are three financial products that you need to get for yourself if you’re self-employed. They will help you to live a happier and more fulfilling life as a self-employed individual.
A High-Yield Savings Account
One thing you should get for yourself as an individual looking to improve your financial standings is a high-yield savings account. A high-yield savings account will have a nice return amount on it that will allow you to save your money and earn interest while you’re doing so.
An IRA or 401K
You should also think about opening up IRS retirement plans like IRA plans. IRS retirement plans such as IRA plans are available to you if you want to put money away for your retirement. You can open up a self-directed IRA that will give you a lot of freedom to maneuver your money. It’s not as strict as something like an employer-issued 401K plan. You’ll still need to be serious about saving your money, but you’ll have fewer restrictions on your cash.
A Disability Plan
You’ll also need to think about starting a disability plan for yourself. A disability plan will protect you if you ever suffer an unforeseen injury. You don’t have to work for a regular employer to take advantage of a disability plan. You can talk to a provider that will help you to get one as a self-employed person.
Contact or visit the website for information about available retirement plans.