Pension Benefit Tag's Archives
The most expensive and complicated retirement plan for the self-employed, the defined benefit plan is most appropriate for someone with a mountain of money to save for retirement.
Employers can save a maximum of $195,000 per year. But you need an actuary to determine the amount that can be contributed, which adds to the cost of the plan.
In contrast, the Solo-K, SEP and SIMPLE IRAs allow more flexibility by allowing employers to reduce contributions in a year with poor cash flow.
Better Retirement Life, business owner, cash flow, Effective Plan, expenses budget, expenses contributions, Luxury Lifestyle, money management, Pension Benefit, retirement plan, self-employed, tax-dodger
