Although you don't have an employer providing a retirement plan to you, you can set yourself up for success. In this video, learn how to set up your own retirement plan depending on how much you make and how much you want to save.
- If you're self-employed, … you have more retirement options available to you … than you would as a W2 employee. … But how do you choose which one is right for you? … In this lesson, … I'll show you how to choose a retirement plan … that's right for you and right for your business. … The most important factors to consider are: … Whether you have employees. … How much you can save from your business income … towards retirement. … Retirement account contribution limits. … Tax benefits, whether they be Roth or traditional. … Simplicity. … And cost of administration. … Let's start with whether you have employees. … If you do, most retirement plans for your business … will require you to make contributions … for your employees as well, to keep things fair. … And also because the IRS has lots of rules about it. … For a small business with W2 employees, … connect with a financial planner … to find the most cost-effective plan … that fits the needs of your business. … If you don't have employees, …
This course was created by Madecraft. We are pleased to host this training in our library.