The New Year has closed some doors for 401k and other retirement account owners. But lots of retirement plan options remain. If you haven’t made deposits into a work sponsored 401k plan for 2010, your time is indeed up. (But this could be a wonderful time to get started for 2011!) On the other hand, if you have income in 2010, you have until April 18, 2011 to establish and fund a SEP IRA, for 2010. This will lower your taxable income for 2010 and, moreover, give you a tax-deferred account that can grow until retirement. All of these retirement vehicles would be protected in bankruptcy.
The SEP IRA allows you to contribute up to 20% of your net income (minus half of your self employment tax) up to 49,000 in 2010.
For 2011, also consider a solo 401k which must be set up before the end of the year, but can be funded up until the tax return date in 2012 to fund it.