Reply #27: That is great for you

[LondonReign2]

Congratulations on your business success. I went out on my own for about a year, but wasn't able to get it going the way I wanted to--but it still helped me immensely in my career.

Even if you are self-employed, there are a lot of good vehicles, such as an IRA, for you to invest in. If you are doing well, you are probably in a higher tax bracket, so the tax advantage becomes even more valuable. If you are in the 25% tax bracket, a $3,000 contribution cuts $750 right off the top of your taxes.

Or check out a Roth IRA. The money isn't tax deductible going in, but when you take it out, all the money is tax free (as it should be, since you've been taxed on it going in), but also the earnings on that money can be withdrawn totally tax fee.