Message Font: Serif | Sans-Serif
 
No. of Recommendations: 2
Hey AJ, could he not also consider a SEP or a SIMPLE for the business?

Yes, that's why I said I would say with your situation, it would be best to consult a professional about what types of retirement plans are available to you as a business owner, and how you can best accomplish your goal of being able to invest in more investment choices than you have in your employer's 401(k). I didn't specifically mention SEP or SIMPLE, but they are a couple of the other types of retirement plans that I was referring to.....

However, I think that his situation is complicated enough (with a significant number of part-time employees, etc.) that he really should be using a professional, rather than a message board, to get any answers beyond 'Yes, it is possible for you to set up retirement plans at your company' because if the retirement plan(s) he sets up are incorrectly utilized, it could cost him a whole lot more money than what he perceives he's losing by not having good investment choices in his current employer's 401(k).

AJ
Print the post  

Announcements

Live Video Event Monday!
The GP team is hosting a live video event on Monday at 4 p.m. ET. Don't worry if you can't make it — we'll have a replay and a transcript. Click for more!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.