The current maximum monthly benefit from social security is $4,555/mo or $54,660/yr. If you purchase this much cash flow as an annuity in the public market, it would be worth $1.3 – $1.5 million. Because of this considerable value, it is worth understanding how to maximize both your monthly benefit/expected lifetime benefit, and how this
Category: Retirement plans
How to Contribute $67,500 into a Solo 401k in 2022
Solo 401k’s have always had a large annual contribution limit, but the trick is getting to that limit while living within the rules provided by the IRS. There are four rules to follow to contribute the entire $67,500. Rule #1: Qualifying Business You must work in a for-profit business with “one” employee: you. However, the
Small Business Retirement Plans
One benefit to being a small business owner is access to more retirement accounts than the typical 401k, IRA, and Roth IRA. While there are many options the three most attractive are the SEP IRA, SIMPLE IRA and Solo 401k. These three plans provide business owners a way to save more while providing a valuable