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Lawrence B. Keller, CLU, ChFC, CFP®
Feb 27, 2009 - 9:05AM
Re: Are 401K profit sharing plans good for owners of a business?

Jason-

In addition to tax reasons, there are many good reasons to have a retirement plan for the benefit of you and your employees.

However, I agree with you. If we are deferring today only to take money out, in the future, at a higher rate, what have we accomplished? We have actually done reverse tax planning.

There are alternatives such as the Roth 401(k) to consider.

In fact, depending upon the business owner's age, it might not make any sense to contribute at all.

Zip Code: 11797

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