As with other types of 401(k) plans, the employer portion of a solo 401(k) plan contribution is always pre-tax – that is, it is excluded from the participant’s gross income. However, theemployeeportion can be directed into either a pre-tax (traditional) account or a ...
Having anice emergency fundbefore youpay off debtis important to keeping out of the cycle of using credit to cover the unexpected. A healthy emergency fund should be your number one priority before tackling other financial tasks. You'll keep thismoney in a High-yield savingsaccount so it can ...
These types of pensions are based on the employer’s assumption about your life expectancy. If you live to exactly the expected age, the cost to the employer will be roughly the same no matter which option you choose. You just need to do the math – bigger payments later are made for (...