What is the difference between an IRA and a Keogh Plan?

What is the difference between an IRA and a Keogh Plan?
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#1

I am 37 years old and thinking of quitting my W-2 job and starting my own business.


#2

A Keogh Plan is for self employed people, and allows you to put in 25% of your profit if you are a sole proprietorship or salary if you are a corporation or S-Corporation. An IRA only allows you to put in $5500 if you are under 50 or $6500 if you are 50 or over


#3

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