Queercents

This is the second installment of a series of articles designed for the small business owner who may be contemplating the plethora of business retirement plans available.

I like simplicity.  I especially like it when I can help my clients in a simple way so that the decision they make is simple, the product I offer them is simple to understand and simple to explain and the benefits are many for both the employer and employee.

Ladies and Gentlemen: I give you the SIMPLE IRA. 

Yes, SIMPLE is an acronym for Savings Incentive Match Plan for Employees of Small Employers.  A SIMPLE IRA provides employers and their employees with a simplified way to contribute toward retirement. It reduces taxes and, at the same time, attracts and retains quality employees. And compared to other types of retirement plans,
SIMPLE IRA plans offer lower start-up and annual costs … they are just simpler to operate. Read the rest of this entry »

This is the first part of a series of articles intended to help readers understand a business owner’s options to the common 401(k), a plan that is often very expensive and time consuming to administer for small-businesses.

Once upon a time, there was a lonely retirement account for small business owners called 401(k). It had cousins like the Keogh and the SEP, but far too few knew of his kin. Most had some idea about 401(k), but many didn’t realize much about its features, benefits and restrictions. 401(k) is a retirement account for business owners and their loyal workers, regardless of how many workers there were.

You see, 401(k) was born and raised in a time (back in the 70s) when we Americans were still under the illusion that our government was this benevolent crew of honest and intelligent businessmen (sorry, ladies, but men did make up almost all of congress back then) who would take care of us when we’re old. In a way, maybe they were thinking long term-as they probably noticed how there was nothing Social Security could do to help all of us out in the long-term, so presto! 401(k) – a “one-size-fits-all” retirement vehicle. Read the rest of this entry »