Many people prefer not to be restricted to the options a former employee makes available.
One note for you as a self-employed person. You could establish a 401(k) for your new enterprise and roll the old 401(k) into it. If you have employees, this is a little more complicated but plans for solo shops are cheap and easy to set up and maintain.
A Traditional IRA contribution is fully deductible if your income is under a certain level or if you (or your spouse) don’t have an employer-sponsored retirement plan. If you (or your spouse) do have a 401(k) or pension plan, the tax-deductible portion of your IRA contribution may be limited.
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All Securities and Advisory Services provided under the name Ensemble Financial, Inc. are offered through Titleist Asset Management, Ltd. ("TAM"), a Registered Broker/Dealer & Registered Investment Advisor and member FINRA & SIPC. Customers working with Ensemble Financial, Inc. will be dealing solely through TAM with respect to their investment, brokerage and securities transactions. TAM does not offer or provide legal or tax advice. Please consult your attorney and/or tax advisor for such services. Member FINRA and SIPC.