does any1 know about 401k Plans for the Self-Employed? | 401k Questions

Question

Asked 11/27/2006

does any1 know about 401k Plans for the Self-Employed?

I am a self employee for my S Corp..was looking into 401k plans for saving some $

please advice

TIA

Answers

Answer 1/3 - Submitted 11/27/2006

your local bank should help you with that

Answer 2/3 - Submitted 11/27/2006

Google is quite the useful tool.

Type in 401k self-employed and the information is limitless.

I am surprised that more people do not use this function to find info.

Check this link: explains some of the benefits that Solo 401k plans offer

https://www.bcmadvisors.com/retirement_plans/solo- 401k.htm

Answer 3/3 - Submitted 11/27/2006

You'll want to open a SEP IRA. That'll give you lots of flexibility and allow pretty good tax deductions with a higher limit than a 401K.

As another person mentioned, you might try typing in SEP IRA into a GOOGLE search.

If you have other questions, let me know. Good luck!

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