Self-employed individuals face a number of challenges independent of “running their business”. One of the greatest challenges is selecting a retirement plan that meets the unique needs of their company. Until recently, self-employed workers were limited in the ways they could shelter their income and save for future goals. Most would choose to use a Simplified Employee Pension (SEP) as it was easy to establish and the most popular amongst their peers. In recent years, however, a compelling alternative to the SEP has emerged, the Individual 401(k).