THE BEST “RETIREMENT CALCULATORS SAVIOR “FOR YOU

retirement calculators

By Anthony Arashi

Are you a solo entrepreneur?? Worried about retirement plan? Don’t. Read this article and you will find out four types of retirement calculators saviors which enables you to save for your retirement.

1. Roth IRA

It is a retirement calculators savior for those who starting to save retirement.

The characteristics of the retirement calculator’s savior;

• Low cost
• Very flexible,
• Let you to save money and withdraw at any time without any tax if you accomplish the distribution rules,(there is tax when you withdraw money before age 591/2 without any certain conditions),
• The contribution can be made up to $4,000.

2. SEP IRA

SEP IRA is a retirement calculators savior is good for them who are looking a low-cost way in planning retirement for yourself and your employees.

Although it is not tax-free like Roth IRA it provides you more capacity of contribution.

The characteristics of retirement calculator’s savior;

• It has low-maintenance fees
• It allows you to save up to 20% of your salary with a limiting cost of $44,000 per year.
• Contributions are tax-deductible
• The contributions are for solo entrepreneurs and employees (the employees can not contribute to their own SEP IRA)

3. Simple IRA

It is a retirement calculators savior which provides low capacity of contribution than SEP IRA; but it allows the employees to contribute the simple IRA and the company as mandatory.

The characteristics of the retirement calculator’s savior:

• Low fees
• Contribution are tax-deductible
• Contributions are made up to $10,000 and an employer match up to 3%

4. Solo 401K

This type of retirement calculator’s savior is good for small business with no employees.

The characteristics of retirement calculator’s saviors;

• No maximum amount.
• Less cost and less requirements
• You can contribute up to 100% of the first $15,000 of compensation
• There is additional amount up to 25% of your compensation.

There is no a retirement calculator’s savior fits for all entrepreneurs. You need to find your need and choose the best retirement calculators savior for you!

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