Jay

Sure you can...but do you need to? That is, will you require the future income that would require you to build another tax deferred plan? If yes, then set it up. A SIMPLE IRA, a SEP or a solo 401(k)...all will allow you to set aside savings pretax that will grow tax deferred...but must come out starting at age 70.5, will come out as ordianry income.and at death, will receive no favorable tax treatment and must be distributed to beneficiaries as ordianry income (except spouse, who may continue tax deferral).

But if you don't need the savings, you may be better served to pay the tax on what you'd otherwise be savings in a tax deferred account, and invest this in long term tax efficient investments, from which you'll never be required to make withdrawals, but when withdrawals are made will be more tax favorable capital gains and if you still hold these at death, will step up in basis to your heirs.

BruceM