As an employee, you’re stuck with whatever retirement plan your company provides. Sure, you can still make regular IRA contributions, but those are limited. That’s not the case if you have your own business. If you’re self-employed or a small business owner you have several retirement plan options beyond just the basic IRA.
The best self-employed retirement plan will depend on your business plan, how much you want to contribute, how many employees you have or expect to have, and if you get income from a regular job.