There are several retirement plans that can be managed by the individual policyholder. Here are a few examples:
1. Individual Retirement Account (IRA): An IRA is a retirement plan that allows individuals to save for retirement with tax advantages. It can be managed by the individual policyholder, who can choose the investments and make contributions within the annual limits set by the IRS.
2. Solo 401(k): This retirement plan is designed for self-employed individuals or small business owners with no employees, except for a spouse. It allows the individual policyholder to contribute both as an employer and an employee, giving them more control over their retirement savings.
3. Self-Directed IRA: A self-directed IRA is similar to a traditional IRA, but it allows the individual policyholder to invest in a wider range of assets, including real estate, private equity, and precious metals. The policyholder has the freedom to make investment decisions and manage their retirement savings.
4. SEP IRA: A Simplified Employee Pension (SEP) IRA is a retirement plan for self-employed individuals and small business owners. It allows the individual policyholder to make contributions on behalf of themselves and their employees, if any. The policyholder has the flexibility to choose the investments and manage the plan.
5. Keogh Plan: A Keogh plan is a retirement plan for self-employed individuals and unincorporated businesses. It allows the individual policyholder to contribute a percentage of their self-employment income and manage the plan.
It's important to note that while these retirement plans can be managed by the individual policyholder, it's always a good idea to consult with a financial advisor or tax professional to ensure you're making the most informed decisions for your retirement savings.