In our discussion on the Individual 401(k) Plan I promised to give an example of how it works. Keep in mind this plan suits a sole proprietor with no employees. Matt M. owns a growing printing and engraving company and...
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HEY, I’M ALONE HELP
Bob, I appreciate your posts on different retirement plans for the Business Owner but I don't have any employees so what can I do beyond a normal, traditional IRA? That's one message I recently received from Mr. Anonymous. There's an...
Making You A Wizard On Self-Employed Pension Plans
SEP-IRAs may very well be an attractive option for the self-employed business owner. It is similar to a Profit Sharing Plan in a 401(k) but much easier to establish and administer. The employer establishes the plan (one document) and sets...
The Alphabet Soup Of Retirement Plans For Business Owners
The Government comes up with letters to shorten various programs in all areas of finances. You have heard of IRA (Individual Retirement Account) and 401k, a special retirement plan. Have you ever heard of SEP? This is short for Simplified...
Posts Apply To Workers of Business Owners As Well
In many of the posts, we have concentrated on the owner or owners of the business. However, I need to point out that many if not all entries also apply to workers of the self-employed. In America, 3 out...