Solo 401k vs SEP vs SIMPLE IRAs - Best Small Business Retirement Plan Option

Описание к видео Solo 401k vs SEP vs SIMPLE IRAs - Best Small Business Retirement Plan Option

If you have a small business with income and are looking to save in a tax advantaged way for retirement, there are a lot of options. The 3 most popular options are:

An Individual 401(k) (also called a "solo 401(k), or i401(k))
A SEP IRA
Or, a Simple IRA

We usually find solo 401(k)s to be the best option. They are simple to administer, and cheap to manage. The biggest advantage for you is that you can put away a lot of money into these accounts - $66,000 for 2023!

Small business retirement options can be more complex though if you are considering adding employees. Be sure to reach out if you need help setting up a 401(k), managing the account, or with other parts of your financial plan.

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