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Saving for retirement is something we talk to a lot of people about. For most, the conversation is around what they employer provides and we make the best of the hand dealt as employers will typically make the plan as cheap as possible for themselves….after all, they have to look out for the shareholders.

It’s not that simple when you’re the boss.

This conversation gets more complicated when you control the business. You have some decision to make:

• Do we make the plan “rich” and give a lot of benefit as a way to get and keep the best talent?

• Do we go cheap thinking about the bottom line, and maybe the best talent won’t be wowed into staying if they get a better offer?

• If you are the only participant in the plan, how much do you put in? Is it best to put some or all away after tax?

• Do you need the ability to make Roth contributions within the plan?

Have questions? Schedule a time to discuss with Will Nunn, CFP®