Start planning! The IRS just released the 2010 Roth IRA limits and Roth 401k contribution limits.
The 401k limits and IRA limits will remain the same in 2010. I highlight the Roth IRA and the Roth 401k because they are my favorite retirement plans; limits for traditional 401ks and IRAs will also remain unchanged in [...]

Posted October 15, 2009 in Retirement by Madison | 4 Comments

Solo 401k or a SEP-IRA, which one is the best retirement plan for the self-employed?
When I told you about my struggles with my Solo 401k contribution at Fidelity, Lee suggested I look at the SEP-IRA, which made us take a step back and relook at all the available plans; the Solo 401k, the SEP-IRA, [...]

Posted October 13, 2009 in Retirement by Madison | 1 Comment

Today we’ll wrap up our look at various retirement plans ideal for small business owners and the self-employed with the one that inspired the series – the Solo 401k. So far, we’ve looked at the SEP-IRA and the SIMPLE IRA.
Solo 401k Overview
A Solo 401k combines the characteristics of a regular 401k plan with a [...]

Posted October 7, 2009 in Retirement by Jill | 1 Comment

SIMPLE IRAs are up next as we continue the series exploring three different types of retirement plans ideal for small business owners and the self-employed. Yesterday, we started the series with an in-depth look at the SEP-IRA.
SIMPLE IRA Overview
SIMPLE stands for Savings Incentive Match Plan for Employees. SIMPLEs were established to encourage small businesses [...]

Posted October 6, 2009 in Retirement by Jill | 2 Comments

After Madison posted about her Solo 401(k) woes, a reader, Lee, suggested she look into a SEP-IRA instead. Let’s take a step back and explore 3 different types of retirement plans ideal for small business owners and the self-employed. We’ll start the series with an in-depth look at the SEP-IRA.
SEP-IRA Overview
SEP stands for Simplified [...]

Posted October 5, 2009 in Retirement by Jill | 2 Comments