
- November15 2004
- Volume 11
- Issue 21
Your Own 401(k)
If you're the only employee in yourmedical practice, it might pay to look intoa solo 401(k) plan, which can give youhigher contribution limits and moreflexibility than other tax-advantagedretirement plans. As the employer, youcan contribute up to 25% of your compensationinto a solo 401(k), and kick inanother $13,000 as the employee, up toa combined maximum of $41,000. Ifyou're over age 50, you can add another$3000 in catch-up contributions.With a solo 401(k), you can also borrowfrom the plan, which you usually can'tdo with other retirement plans, such assimplified employee pension IRA andKeogh plans. For a list of financial firmsthat offer solo 401(k) plans, contact the401khelpcenter.com (503-705-9548).
Articles in this issue
almost 18 years ago
Huge Profits for Nonprofit Physiciansalmost 18 years ago
Flu Shot Blues: Government-Run Health Care on Trialalmost 18 years ago
Arm Yourself with a Solid Strategy to Maximize Tax Returnsalmost 18 years ago
Are Hedge Funds Too Hot for Investors?almost 18 years ago
Sort Through the Employment Statisticsalmost 18 years ago
Model Portfolio Series: Conservative Growthalmost 18 years ago
Turn Back the Clock to Gain Perspectivealmost 18 years ago
Heed the Advice of Wall Street Legendsalmost 18 years ago
Mixed College Bagalmost 18 years ago
Build a No-Scam Zone





































































