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Financially Simple Bizcast

The Financially Simple podcast is your one-stop resource for small business owners. Gain unique insights into growing, refining, and selling businesses. You will hear ways business owners have reduced their tax liabilities, increased their income, improved office morale, saved for the retirement of their dreams, and more.
Host Justin Goodbread is a serial entrepreneur, award-winning CFP® (Certified Financial Planning professional), CEPA® (Certified Exit Planning Advisor), and CVGA® (Certified Value Growth Advisor) with years of experience guiding business owners from start to exit in their business.

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.