The entrepreneurial journey is exhilarating, brimming with possibilities and brimming with pitfalls. One such pitfall, often underestimated, is business disruption. A cyberattack throws your entire network into chaos. A flood devastates your local community, rendering your storefront inaccessible. An economic downturn squeezes consumer spending. These unforeseen events can cripple even the most well-intentioned ventures. But...
Category: Qualified Plans
Secure Your Golden Years: Exploring Defined Benefit Plans for Solopreneurs
Building a successful solo business is exciting, but don’t let planning for retirement fall by the wayside. Defined benefit plans, traditionally associated with large corporations, can be a powerful tool for solopreneurs to achieve financial security in their later years. What Exactly is a Defined Benefit Plan? Unlike traditional IRAs or 401(k)s where the retirement...
Need Money to Start A Side Gig?: Your 401(k) can come to the rescue!
Yep, why not? In today’s world it is tougher and tougher to find money to start businesses. One way you could do so in 2024 is to use your retirement assets. Yes, you can fund a business with your IRA dough. While most people are aware of the option of using their 401(k) to purchase...