As a solopreneur, planning for retirement is essential. Defined benefit plans offer a unique approach to retirement savings, providing guaranteed income during your golden years. In this article, we’ll discuss the advantages of defined benefit plans and how they can work for you as a solopreneur. What is a Defined Benefit Plan? A defined benefit...
Introduction: As a solopreneur, planning for retirement might seem daunting. However, understanding and utilizing a 401(k) plan can secure your financial future. In this article, we’ll explore the benefits of 401(k) plans and how they can work for you. What is a 401(k) Plan? A 401(k) plan is a retirement savings plan that allows employees...
More importantly, will one help me?! If you are an entrepreneur with with no employees, a cash balance plan can significantly help increase your retirement savings and reduce your tax liability. If you are trying to recruit employees, they can bring in great talent. Lastly, if you have want to retain employees cash balance can truly...