Pros and Cons of a One Person Pension Plan

Posted on Leave a commentPosted in Retirement, Small Business, Tax Planning

This post summarizes the pros and cons of a one person private pension plan (sometimes called a “Solo Defined Benefit Plan”) for a successful small business owner as opposed to other self-employed retirement savings options. Pros Potentially larger immediate tax deduction; perhaps in the range of 3 times to 5 times larger than a 401(k) […]

estimating defined benefit contributions

Posted on Leave a commentPosted in Computers and Internet, Employee Benefits, Financial Planning, Small Business, Tax Planning

I was impressed by onepersonplus-for-db.com estimator for maximum defined benefit contribution. The proposal it generates is simple. The discussion that must accompany the planning for this type of strategy is not simple. I know most people who consider a new pension plan are largely unaware of the risks, cost and potential downsides. So A tool […]