Mandatory retirement for self-employed

In the past few years, many companies around the world will affect the economy, millions of jobs will be shed. Employment and self-employment has become a serious rival for the landing. In addition to that, many individuals are self-employed retirement plans began a trend. One of the benefits of self-employment, you do not have to drag you under your own boss. What else you have to earn the right to work without the hassle.

The most common self-employed retirement plans, including a solo 401k plans. It is most commonly used in the retirement fund. If you are under 50 years of age, the contribution limit is $ 16,500, and those aged 50 or over is $ 22,000. Not restricted to a certain percentage of your salary that you make contributions as well as tax concessions SEP Compared. 401 (k) plan another big you can contribute an additional contribution of 20% of your income.

Simple IRA retirement plan is another option to finance retirement. IRA is an individual retirement account. The 50-year-old under the maximum contribution of $ 5,000, and those aged 50 and older is $ 6,000. You or your spouse (if you have one) or tax deductions and other controversial issues to avoid the limitations of the 401 (K) and other retirement funds that are the best.

Simplified employee pension plans, IRA or SEP IRA you $ 49,000 up to a maximum of 20 percent of your net income can contribute to a simple IRA, an updated version. Nowadays, the SEP IRA retirement plan for self-employed individuals, the most common type used. This type of plan does not require a mandatory contribution. One year, full-size or half of next year, or you can choose to contribute any amount required. One of the benefits of using the SEP IRA is relatively easy to build and maintain an account.This is a flaw that allowed the loans.

Roth IRA retirement plan, there is no income tax exemption and tax free growth of your investment. This is an income tax deduction for contributions to retirement and you take the money out of a traditional IRA is tax plan is the exact opposite.

Including defined benefit plan to maintain high prices and other personal retirement plans that work very hard. The annual funding requirements for this type of debt retirement fund is permitted, however, is very serious. This type of account the contributions of age and the owner of the average income, up to $ 100,000 or more can be achieved. For more information about the various retirement plans for self-employed individuals, you should start a free retirement planning tools that allow the use of the internet.
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