Retirement plan options for construction contractors

Contractor Success Forum

Do you know your options for retirement planning? Not only is it crucial to think about your own retirement, but a retirement plan can also be a great incentive for attracting and retaining employees. This week, we talk about the available options and how to choose the right one for your company.
Topics we cover in this episode include:

• What retirement plan options are available to contractors?
• How the Secure Act 2.0 may affect retirement plans
• Defined Benefit Plan vs. Defined Contribution Plan
• Why a Simple IRA might be a good place to start
• Work with a financial advisor to find the right solution for you

LINKS
Visit the episode page at https://CarpenterCPAs.com/retirement for more details and a transcript of the show.
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Wade Carpenter, CPA, CGMA | CarpenterCPAs.com
Stephen Brown, Bonding Expert | SuretyAnswers.com

Bölümler

1. Retirement Plan Options for Construction Contractors (00:00:00)

2. What retirement plan options are available to contractors? (00:03:11)

3. Solo 401(k) (00:04:51)

4. How the Secure Act 2.0 may affect retirement plans (00:06:20)

5. Defined Benefit Plan vs. Defined Contribution Plan (00:09:47)

6. Simple IRA: A good place to start (00:16:17)

7. Work with a financial advisor to find the right solution for you (00:18:51)