What Is a 401(k)? A 401(k) is an employer-provided retirement savings plan offering tax benefits to encourage long-term investment and savings for retirement. The plans are typically included in employee benefit packages. Benefits of a 401(k) One of the primary benefits of a 401(k) is the tax advantages offered. With a 401(k), your savings grow […]
Employee-Established Retirement Vehicles For business owners, retirement planning can be challenging, but don’t worry, we’ll break it down into manageable pieces. Individual Retirement Account (IRA) Think of an IRA as your personal retirement piggy bank. There are two main types: Traditional IRA: With a Traditional IRA, you contribute pre-tax income and then pay taxes […]