Can I Have a SIMPLE 401k and a Traditional IRA? Yes, you can maintain and contribute to an individual retirement account (IRA) while also having and contributing to an employer-sponsored SIMPLE 401(k) plan. The Bottom Line Helping your employees save for retirement is a great way to keep...
In order to qualify for a Solo 401(k), you cannot have any employees (other than your spouse), so if you have employees or want to have employees in the future, this plan is not for you.5500 filingWith a Solo 401(k), you are required by the IRS to file an annual report on For...
plans. This would be your typical 401k plan. It is “defined” by how much you can contribute. In addition, it defines how much your employer is going to contribute. There is no guaranteed rate of return or discussion about how much your account balance will be at a certain point in ...
Who doesn’t loveAudible! When you don’t have enough time to just sit and read, you can subscribe toAudible. It is a great way tolisten to bookswhen you commute or when you go for a run. It lets you easily read for 2 hours a day, all while accomplishing other tasks!
percent in VBTLX. In the interest of full disclosure, I do still have a few other investments left in old 401k plans and from my many misguided attempts to pick stocks and fund managers. Boy howdy, I’ve made a lot of mistakes swinging for the fences. That’s a subject for another ...
One last thing to note is that if you have $250,000 or more in your solo 401(k) by the end of the year, you're required to submit a Form 5500-EZ information return to the IRS with your taxes for that year so you don't run into trouble with the feder...
Can I Have a SIMPLE 401k and a Traditional IRA? Yes, you can maintain and contribute to an individual retirement account (IRA) while also having and contributing to an employer-sponsored SIMPLE 401(k) plan. The Bottom Line Helping your employees save for retirement is a g...