[ydt]

If you're a straight 1099 / sole proprietor as an individual you can set up a SEP IRA. If you establish an LLC you can create a simple-IRA. Both of these allow you contribute money tax deferred and are much easier to manage than a 401k. Plus, you can trade them like any other brokerage account.

[loeg]

Solo 401(k)s have higher contribution limits and allow you to save more of your business income tax-advantaged. The fees may be worth it.