Small business owners can benefit from offering SIMPLE IRA retirement plans to their team. Not only does adding a retirement plan to your employment package help attract and retain 5-star talent, but there are additional perks as a business owner compared to more complex retirement plans. Check out our quick video below to review the main takeaways from the plan and how they differ from traditional IRAs.
The SECURE 2.0 Act of 2022 was signed into law on December 29, 2022 and made many sweeping changes to how retirement plans are managed. Check out our recent video to learn about some of these changes.
The IRS has announced retirement plan contribution and benefit limits for 2023. We have created a quick reference sheet for you below highlights those limits for each applicable category.
Retirement Account Contribution Limit Changes for 2022
Having a financial advisor who has been through this kind of market volatility before can help you stay on target and not let your emotions get the best of you. If you find yourself wanting to make sudden or drastic changes with little information behind those decisions, give us a call and talk to us about your concerns.
Well, compound interest is like a really great sourdough starter. The initial amount is like what you put in, and the beautiful effervescent bubbles that come with time is how the interest works for you over time. Perhaps this baking analogy falls a little flat (sorry, I had to). In that case, let’s consider the following few examples of compounding interest, and why it’s still better late than never to utilize it.
