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Self-employed and Want to Start a Retirement Fund?

October 17, 2019 by OSYB Staff

If you are one of the many joining the ranks of the self-employed, weave into your business goals a retirement plan. Keep in mind that it is never to early to start thinking of retirement and no matter how small the contribution is in the early years, it’s a good habit to start early on.

Intuit QuickBooks shares some ideas. ” With proper planning and self-discipline, you can fund a retirement savings account with self-employment income. When you fund a retirement account, you reap the benefits of tax-deferred investing. ” Here are somethings to consider as retirement plans offer benefits:

  • offers investment choices like individual stocks and bonds, or mutual funds
  • most retirement plan dollars are not taxed until the money is withdrawn
  • many retirement plans allot for retirement plan contributions as business deductions on the owner’s personal tax return

You will be much happier and able to enjoy your retirement when the times comes, the soonest you start your retirement plan. Set up a meeting with a financial planner to figure out and set in motion a retirement plan that meets your goals today for a an even better tomorrow.


For full article: Can I fund a retirement plan if I’m self-employed?

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