Summary

In this episode, Mike Metzger discusses the importance of balancing business growth with family and personal health. He introduces the topic of retirement plans for small business owners and provides insights into different options available. The main focus is on SEP IRA, Solo 401k, Safe Harbor 401k, and Traditional 401k plans. Mike explains the eligibility, contribution limits, and benefits of each plan. He also highlights the importance of considering factors like the number of employees and the desire to attract and retain employees when choosing the right retirement plan.

Takeaways

Balancing business growth with family and personal health is crucial for entrepreneurs. Small business owners have various retirement plan options, including SEP IRA, Solo 401k, Safe Harbor 401k, and Traditional 401k. Factors to consider when choosing a retirement plan include eligibility, contribution limits, and the desire to attract and retain employees. Consulting with a certified financial planner or CPA can help in making an informed decision.

Chapters

00:00 Introduction and Purpose of the Podcast 03:20 Retirement Plans for Small Business Owners 06:34 SEP IRA 10:11 Solo 401k 14:29 Safe Harbor 401k and Traditional 401k 18:22 Choosing the Right Retirement Plan

Getting In Contact with Mike

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