Welcome to this month's edition of Waypoint Unscripted. Did you know making any changes in your retirement plan needs to be completed by the end of 2018? Learn more about the different options available.
Click here to listen to the complete blog: Unscripted Blog NOV 18
Below are a few key points:
Three Retirement Plans Available:
- Simple IRA
- Funding this type of plan one time in a calendar year, means you are struck with it for the entire year, making this plan less flexible than other options.
- SEP
- Potentially most expensive retirement plan
- Works well if you have a few employees
- Often not funded due to percentage owner receives of total contributions
- Waypoint Preferred Plan - 401k & Profit Sharing
- Allows you and your employees to defer money from paychecks
- Able to set different contribution %s for you and your employees with certain profit sharing plan designs
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