Story perspectives

New Solo 401(k) Accounts Target High-Earning Freelancers

1/24/2026

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Summary

Story summary

Self-employment growth drives banks to promote solo 401(k) accounts for independent workers.
JPMorgan Chase and Fidelity target high-earning freelancers, allowing up to $72,000 annually, nearly triple the traditional 401(k) limit.
However, fully maxing these accounts typically requires a six-figure income, so benefits mainly accrue to higher earners.
Only about 20% of self-employed Americans regularly save for retirement, with affordability a major barrier.

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Story summary

Self-employment growth drives banks to promote solo 401(k) accounts for independent workers.
JPMorgan Chase and Fidelity target high-earning freelancers, allowing up to $72,000 annually, nearly triple the traditional 401(k) limit.
However, fully maxing these accounts typically requires a six-figure income, so benefits mainly accrue to higher earners.
Only about 20% of self-employed Americans regularly save for retirement, with affordability a major barrier.