I started a new practice a little over two years ago and would appreciate since advice on retirement plans. I have three employees, plus me and my wife (non practitioner). We both maxed out a SEP IRA this year, but next year will have to include my employees in any SEP IRA contributions. Both me and my wife are 34, and all of our employees are younger than us.
Our w2 income has been around $250k each, with distributions of less than $200k total between us. I don't expect much change in income up or down in the future.
If you were in my shoes and had no plan already established, what would you do? 401k plus cash balance account? If so, who works you use to set it up? Any advice would be greatly appreciated.
Our w2 income has been around $250k each, with distributions of less than $200k total between us. I don't expect much change in income up or down in the future.
If you were in my shoes and had no plan already established, what would you do? 401k plus cash balance account? If so, who works you use to set it up? Any advice would be greatly appreciated.
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