In Episode 5, we take a closer look at the Solo 401(k) retirement plan. Also called the Individual(k) and the Solo(k), this is a retirement plan option designed specifically for sole proprietors. I cover the pros and cons of this type of employer-sponsored retirement plan, the 2024 contribution limits, contribution type flexibility, the ideal situations for using the Solo(k) and why (or when) it may be a best-fit option for a business owner who wants to save for retirement.

Retirement plan advice, self-employed retirement plan options, 401(k) for small businesses.

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Thanks for tuning in to Financial Flow, brought to you by Tidepool Wealth Strategies. Until next time, stay resilient – and plan to retire well!

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Phillip Smith, CRPC AIF LinkedIn