Thursday, February 2, 2017
5 Ways a Solo 401(k) Can Help you Save For Retirement ith the New Year upon us, now is one of the best times to focus on your financial goals and decisions for 2017. While general savings and paying down debt are typically two of the most popular finance-related New Year’s resolutions, saving for retirement isn’t far behind. There are many ways one can save for his or her retirement, and retirement savings accounts are considered one of your top options. The question is, with so many different types of retirement savings accounts available, which one would work best for you? For starters, if you are one of the 15 million self-employed individuals in the United States, it may be time to consider setting up an individual or Solo 401(k). Are you worried your freelance or small business is not large enough for an Individual or Solo 401(k)? Fear not, as today there are simple plans for just about everyone who is self-employed, and with many reputable providers online, setting up your own plan is stress-free. In addition to helping you step in right direction as far as saving for retirement and helping you reduce your tax bill for this year, a Solo 401(k) offers a variety of additional benefits. Let’s take a closer look at five ways this type of retirement savings account can help you: http://visual.ly/important-retirement-ages-us https://www.statista.com/chart/2561/americans-with-no-retirement-savings/ SunTrust Bank - https://www.suntrust.com/resourcecenter/article/infographic-the-power-of-compounding#.WHjhSbYrKRs Resources: FORBES - http://www.forbes.com/sites/greatspeculations/2015/12/03/business-owners-may-be-better-off-with-solo-401k-than-sep-ira/#24f440a53e28 CNBC – http://www.forbes.com/sites/greatspeculations/2015/12/03/business-owners-may-be-better-off-with-solo-401k-than-sep-ira/#24f440a53e28 You can also go to my website www.mattloganinc.com for more information on financial topics you may find helpful. Matt Logan is a Representative with Matt Logan Inc and Summit Brokerage and may be reached at www.mattloganinc.com, 336-542-9700 or firstname.lastname@example.org. Matt Logan Inc is an independent firm with Securities offered through Summit Brokerage Services, Inc., Member FINRA, SIPC. Advisory services offered through Summit Financial Group Inc., a Registered Investment Advisor. Summit Brokerage Services, Inc., its affiliates and Matt Logan Inc. do not give tax or legal advice. You should consult an experienced professional regarding the tax consequences of a specific transaction. These are the views of Matt Logan Inc, and not necessarily those of Summit Brokerage Services, Inc. and any of its affiliates and should not be construed as investment advice.