Tag: pension
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Pros and Cons of a One Person Pension Plan
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)…
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estimating defined benefit contributions
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…