Does Your Business Offer One of These Retirement Plans?

Offering a retirement plan is often necessary for a business to attract and retain the best employees. ┬áThere are seven major types of retirement plans utilized by companies: Defined Benefit Plans Defined Contribution Plans Profit Sharing Plans 401(k) Plans Roth 401(k) Option Simplified Employee Pension Plans SIMPLE Retirement Plans Determining which type is best for … Continue reading Does Your Business Offer One of These Retirement Plans?

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Owner-Only 401(k) Plans vs. Other Retirement Savings Options

An owner-only 401(k) plan is a way to combine the tax advantages of an employer-sponsored retirement plan with pre-tax personal retirement savings. Reaching a Financially Sound Retirement The Social Security Administration estimates that less than 20% of retirees have an income of more than $75,000. ┬áThis means that 4 out of 5 people who are … Continue reading Owner-Only 401(k) Plans vs. Other Retirement Savings Options