A 401k retirement plan is essentially a savings account that allows you to divert a portion of your paycheck into long-term investments. Your employer can match the contributions you make into the account up to a certain limit. A 401k is eligible for special tax benefits because it is a defined contribution plan.
There are several different 401k companies for you to consider. Landmark Financial can help you sort through the list of options to help you find the 401k provider that is right for you.
When you are self-employed, planning for retirement is solely up to you. Fortunately, there are some retirement plans for the self-employed that will help you build for your post-retirement life.
One favorable option is a self-employed 401k plan. This is known as a one-participant 401k or an individual 401k. This is a special retirement plan just for sole proprietors who do not have any employees.
This plan is very similar to the ones available through several larger companies. The difference is that you can contribute as both an employee as well as an employer. This will give you a higher limit than other tax-advantaged plans.
Landmark Financial can help you with 401k planning to assist you in reaching your retirement goals all the while protecting your investments. To find out how we can help you save for your future, give us a call toll-free at 800-825-3608. Now serving Fort Smith AR, Little Rock AR, Rogers AR, Russellville AR, Surprise AZ, and Scottsdale AZ.