EPISODE · Nov 23, 2021 · 34 MIN
30: Retirement Savings Options for Self Employed Women
from Take Back Retirement · host Stephanie McCullough, Kevin Gaines
You did it. You made the leap. You left behind that corporate 9-to-5, the micromanaging boss, the freeloading coworker... Now, you've started your own thing. You have endless potential. The world is your oyster. You can do what you've always dreamed of. It's a dream many of us are striving for. But, it's easy to forget that we still should be saving for retirement. As a self-employed person or a business owner, how do we pick the right retirement plan to set ourselves up for success? Listen in as Stephanie and Kevin shine a torch to guide us down the exciting but often muddy path to retirement by speaking on how to choose between the different retirement savings options available. Key Topics: "SEP-IRAs still may be the best option for you, but…" (2:37) How do you save for retirement on a tax-favored basis if you're self-employed? (2:50) How to decide on the best plan or account option for you. (9:25) The traditional and Roth IRA. (13:58) The SEP-IRA. (20:10) The SIMPLE IRA. (24:11) How to save "gobs and gobs of money" with a pension plan. (28:35) Stephanie and Kevin's closing thoughts. (30:35) Resources Mentioned: IRS Publication 560 https://www.irs.gov/retirement-plans/retirement-plans-for-small-entities-and-self-employed IRS landing page for Small Business retirement plans https://www.irs.gov/pub/irs-tege/rollover_chart.pdf Rollover Chart Take Back Retirement Episode: 12: What Women Need to Know About IRA's, with Sarah Brenner Take Back Retirement Episode: 20: Women + Roth IRA's - What Should You Be Aware Of? If you like what you've been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. [email protected] You can find the transcript and more information about this episode at www.takebackretirement.com. Follow Stephanie on Twitter, Facebook, YouTube and LinkedIn. Follow Kevin on Twitter, Facebook, YouTube and LinkedIn.
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30: Retirement Savings Options for Self Employed Women
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