Self-Employed (Solo) 401(k): A Retirement Plan Option for Solo Entrepreneurs
Solo 401(k)s are specially designed for small businesses with no employees, including solo entrepreneurs and the self-employed. Here’s everything you need to know to determine if a Solo 401(k) is the right retirement plan for you and your business. Since they were first introduced in the early 1980s, 401(k) plans have become the most popular […]
Simple Employee Pension (SEP) IRA – 2025
If you’re a small business owner or self-employed individual looking for a way to prepare for retirement, it’s worth exploring the Simplified Employee Pension-Individual Retirement Account (SEP-IRA). What is a SEP-IRA? With its easy setup, high contribution limits, and tax advantages, SEP-IRAs offer an attractive retirement planning option for self-employed individuals who want to help their […]
Savings Incentive Match Plan for Employees (SIMPLE IRA) – 2025
Lots of small business owners want to help their employees save for a financially secure retirement by offering them a retirement plan. However, the cost and complexity of most plans, including the popular 401(k) plan, dissuade many from doing so. This is one reason why more than 40% of full-time employees in the United States don’t have […]
How Do Self-Employed 401(k) Contributions Affect Take-Home Pay? And Other 401(k) Questions
By Cliff O’Conner, Financial Advisor Question 1: Does my 401(k) contribution amount come from my gross pay or net pay? How will my contribution to my Self-Employed 401(k) affect my take-home pay? When discussing Self-Employed 401(k) plans with our clients, we are often asked how the contributions to this type of retirement savings plan will affect […]