Whether you are self-employed and looking to set up a plan to save for your own retirement or a business owner looking to set up a plan for your employees, there are several options available to you. Which plan makes the most sense for you depends on your business, financial situation, and your current and future goals.
The chart below compares some of the most relevant differences between common retirement plans. If you are looking for assistance determining the best type of plan for you and how much to fund it, consider working with a financial advisor to help you weigh your options. Keep in mind there are deadlines not only for contributing to these plans, but also for establishing them.
We are taking new clients and happy to help you determine the best savings plan for your business! Please contact us to review your options or if you have any questions.
These details are provided for informational purposes only and are not a recommendation. The decision of which retirement plan to use, if any, for business owners should be made only after consulting with a qualified professional that is familiar with your specific situation.
