Sep 9, 2019
In episode 189 of Financially Simple, Justin takes a looks at SIMPLE 401ks.
401ks, SIMPLE IRAs, and now SIMPLE 401ks - the options for a Small Business owner to choose from for their employees’ retirement funds can be overwhelming. Justin gives a breakdown of SIMPLE 401k funds, the why, the who, and the when of having one.
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01:13 - Why Would One Choose a SIMPLE 401k Instead of a SIMPLE IRA, or a Regular 401k Plan?
02:47 - SIMPLE 401ks
02:58 - Who is Eligible for the SIMPLE 401k?
04:46 - Shared Features of the 401k and SIMPLE 401k
07:19 - Advantages of a SIMPLE 401k
09:47 - Disadvantages of a SIMPLE 401k
12:45 - When to Use One
14:36 - Wrap Up
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Host Justin Goodbread, Certified Financial Planner, Certified Exit Planning Advisor, Certified Value Growth Advisor. He is a serial entrepreneur, author, speaker, educator, Investopedia Top 100 advisor, and business strategist with over 20 years of experience. Justin owns Heritage Investors LLC, a registered investment adviser with the State of Tennessee. Heritage Investors only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. This material is for general information only and is not intended to provide specific advice or recommendations for individuals. To determine what is appropriate for you, please consult a qualified professional. The Financially Simple podcast provides information, guidance, and support to Small Businesses in the United States.