SEP-IRA Contribution Limits for the Self-Employed 2021

If you’re self-employed and want to start saving for your retirement, you may wonder what plans are available to you. One excellent option you have is opening up a SEP-IRA retirement plan. SEP IRAs require a simple set-up process, and their maintenance is also easy. SEP-IRAs also don’t have any reporting requirements, and their contribution…
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How Valuable Is A Pension? Knowing Your Worth

Understanding retirement plans can be difficult, especially when one such as a pension plan or a defined benefit plan is at the hands of your employer. Now, this is not a bad thing that your employer is the one managing your retirement investment funds, it is just important to understand what your pension is worth. …
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firefighter retirement plan

Firefighter Retirement Plan, is Your Pension Enough?

The retirement benefits most of us will experience in the future will not be similar to our parents’. A generation ago, a decent job meant having the potential for a reliable retirement income until death. Back then, employers actively engaged with funding and providing for their employees’ future retirements, meaning the employees were passive players…
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Defined Contribution Plan Vs 401(k)

The title of this blog is actually a common search among planning retirees. This search can end up confusing people even more than when they first typed it into google. Understandable as retirement plans have many different options with confusing language that can make it difficult to know which direction to go into.  In fact,…
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retirement plan for small business

Best Retirement Plans for a Small Business with Employees

Small business ownership encompasses a lot of hard work, which means performing additional planning when it comes to retirement for your employees can feel overwhelming. Small business owners have to make challenging decisions every day, including business strategies, finding funding, and hiring employees. With so much to consider when it comes to business ownership, it’s…
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Social Security Timing, Your Guide On When and What to Do

Despite recent warnings that the social security system will be unable to provide benefits in the future as a result of a drying up pool of funds, social security currently accounts for 50% of retirement income for more than half of Americans aged 65 and up, and 90% of income for a quarter of the…
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Retirement Plans for Dummies

Let’s be honest, retirement planning is not the most exciting topic in the world. Considering the number of acronyms and tax implications of different accounts and benefits options, it’s no wonder that many people wait much longer than they should start thinking about their retirement plan. Despite the fact that half of working adults agree…
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Properly Structured Whole Life Insurance, Your Guide

When looking for an overfunded life insurance policy.  It’s important to know that you have opted for a Properly Structured Whole Life Insurance policy. There are 5 simple ways to spot a Properly Structured Whole Life Insurance product It should contain a Paid up Additions Rider There should always be a Term Rider It should…
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How Much Money Do You Need to Retire Comfortably at Age 65?

It’s not hard to understand that retirement savings need to be relatively large in order to live sustainably and achieve each goal you have set out for yourself once in retirement, but understanding exactly how much is a little bit harder to conceptualize. Understanding how much you’ll need to comfortably retire takes a fair amount…
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Can You Exclude Employees From a SEP IRA?

Individual Retirement Accounts (IRAs) are one of the most popular forms of tax-deferred retirement savings accounts. While Traditional IRA accounts are individual (non-employer sponsored) retirement accounts, SEP IRAs behave a little differently. Simplified Employee Pension (SEP) IRAs are tax-deferred retirement plans for individuals who are self-employed, own a business, employ others, or earn freelance income.…
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