Tag Archives: 401k contribution limits

IRA vs 401K – Is One of The Plans Really Better Than The Other?

IRA vs 401K

There are two distinct retirement plans that can give you a return on your investment and an income for the future. One is an IRA and the other is a 401K. Both have benefits for savers, but there are also

Should I Consider Opening 401K For Small Business?

Small Business 401k

Small business 401K plans can be powerful tools in recruiting and retaining potentially good employees. 401K plans provide financial security for retirement and are listed as one of the top benefits employees seek. You need to consider providing 401K retirement

Small Business Retirement Plans Comparison

Small Business Retirement Plans

There are several options when it comes to small business retirement plans, and each of these must be compared and evaluated before you can determine which plan is best for your specific business and employee needs. There are 401ks, SEP

5 Best Retirement Plans For Self Employed Individuals

Retirement Plans For Self Employed

1. Simplified Employee Pensions- These retirement plans for self employed individuals are simple to utilize, and are also referred to as a SEP plan or SEP IRA. This plan can also be ideal with retirement plans for small business owners

Borrowing Against 401k For College – Wise or Not?

Borrowing Against 401k

Borrowing against 401k account balances can be tempting, and most plans allow loans in a number of situations. The good news is that loans from your 401k are not charged a ten percent early withdrawal penalty, and you will not

Simple IRA Contribution Limits – How Are They Determined?

Simple IRA Contribution Limits

How are SIMPLE IRA contribution limits determined? Do employers set these limits, or do the annual numbers come from another source? A SIMPLE IRA is a retirement plan, and the SIMPLE stands for Savings Incentive Match Plan for Employees. These

401K Retirement Plans And Divorce

401k Retirement Plans

401k retirement plans are a very popular option, but what happens to your plan when you are going through a divorce? These plans are governed by many different rules, 401k contribution limits, and withdrawal allowances. An early withdrawal from your

Self Directed 401k Rules

Self Directed 401k

Understanding all of the self directed 401k rules is extremely important if you own or are considering one of these accounts. There are certain prohibitions and restrictions in place with this type of retirement plan that other options may not

Average 401k Balance By Age Review

Average 401k Balance by Age

A 401k investment is a very smart move for most people, but what is the average 401k balance by age? This is a question many people wonder, because of the 401k contribution limits and other factors involved. Answering this question

Third Party Administrator 401K Pros and Cons

Third Party Administrator 401k

A third party administrator 401k is a plan that uses an independent third party to administer many aspects of the plan. This method has both pros and cons, and can be used for both large and small business 401k plans