| Solo 401k
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Traditional IRA
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| Also can be referred to as "Individual 401k", "Single (k)", "Personal 401k" or "SBO Plan". The Solo 401k plan is designed
specifically to benefit owner only businesses. This retirement plan allows maximization of contributions and valuable tax deductions compared to other types of small business plans.
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Personal savings plan that gives tax advantages for setting aside money for retirement.
A Traditional IRA allows assets to grow tax deferred. You will not pay taxes on the dividends and investment earnings until after you withdraw the assets.
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| SEP IRA
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Roth IRA
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| Stands for "Simplified Employer Pension Plan", This retirement plan is ideally suited for small
business owners and self employed individuals such as independent contractors. The SEP IRA plan allows a much larger contribution than a Traditional or Roth IRA.
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Personal savings plan that gives tax advantages for setting aside money for retirement.
A Roth IRA offers unique tax advantages compared to other retirement plans since contributions are not tax deductible but withdrawals after age 59 1/2 are tax free.
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| Keogh Plan
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IRA Transfers
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| Also referred to as "Money Purchase" and "Profit Sharing". The Keogh retirement plan is designed for owners of un-incorporated small businesses. In other words you must be a partnership, sole proprietorship or LLC.
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Individuals that currently have a retirement plan (such as a previous Rollover, SEP, Traditional or Roth), sometimes may choose to transfer their existing account/s. There are many reasons to consider a transfer.
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