Ep 41 – How to Pick The Best Retirement Plan for Your Small Business


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Picking out a small business retirement plan can be daunting. This is why we see many small business owners, or those with side income, not taking advantage of a retirement plan for them or their employees. In most cases, this is because they are overwhelmed by the number of plan options, plan administration requirements, fiduciary responsibilities or they think they are too expensive.

Episode 41 - How to Pick The Best Retirement Plan for Your Small Business- Financial Symmetry, Inc.

On this episode we share some insights to options that are not as complicated or as expensive as you might think. Making this decision could put you on the fast track to significant tax savings while also saving more for your retirement goals.

Facts and Links Mentioned In the Show

What You’ll Learn in This Episode

  • What qualifies as a small business.
  • Best options for one employer vs. an employer with employees.
  • Differences between Traditional IRA, SEP-IRA, SIMPLE IRA, and Solo 401k.
  • Case study of the decision making of a solo business employee with consulting income.
  • How turning 50 is a nice benefit when it comes to retirement savings.
  • How you could save in multiple 401(k) accounts with unrelated businesses.

 

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