You did it. You made the leap.

 

You left behind that corporate 9-to-5, the micromanaging boss, the freeloading coworker...

 

Now, you’ve started your own thing. You have endless potential. The world is your oyster. You can do what you’ve always dreamed of.

 

It’s a dream many of us are striving for. But, it’s easy to forget that we still should be saving for retirement. As a self-employed person or a business owner, how do we pick the right retirement plan to set ourselves up for success?

 

Listen in as Stephanie and Kevin shine a torch to guide us down the exciting but often muddy path to retirement by speaking on how to choose between the different retirement savings options available.

 

Key Topics:

“SEP-IRAs still may be the best option for you, but…” (2:37)

How do you save for retirement on a tax-favored basis if you’re self-employed? (2:50)

How to decide on the best plan or account option for you. (9:25)

The traditional and Roth IRA. (13:58)

The SEP-IRA. (20:10)

The SIMPLE IRA. (24:11)

How to save “gobs and gobs of money” with a pension plan. (28:35)

Stephanie and Kevin’s closing thoughts. (30:35)

 

Resources Mentioned:

• IRS Publication 560
• https://www.irs.gov/retirement-plans/retirement-plans-for-small-entities-and-self-employed          IRS landing page for Small Business retirement plans
• https://www.irs.gov/pub/irs-tege/rollover_chart.pdf        Rollover Chart
• Take Back Retirement Episode: 12: What Women Need to Know About IRA's, with Sarah Brenner
• Take Back Retirement Episode: 20: Women + Roth IRA's - What Should You Be Aware Of?

 

If you like what you’ve been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. [email protected] 

 

You can find the transcript and more information about this episode at www.takebackretirement.com.

 

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