Author: Benjamin Lee
Benjamin Lee is an experienced independent insurance broker, licensed in Life, Health, Property & Casualty insurance. He has been serving clients for over 15 years, providing comprehensive insurance solutions that help them prepare for the unexpected. Benjamin has a background in accounting and finance, which has helped him to develop a deep understanding of the financial needs of his clients. He is passionate about financial education and is committed to helping his clients achieve their financial goals through smart insurance planning. Although Benjamin primarily services the New York area, he is licensed in several other states and has clients all over the country. He specializes in life insurance, business insurance, and home insurance, and is dedicated to providing his clients with the information they need to make informed decisions about their insurance coverage. Benjamin is a valuable member of the Investment Guide team, and we are proud to have him as one of our contributors.
IntroductionA profit-sharing plan is a type of retirement plan that allows employers to share a portion of their profits with their employees. This type of plan is designed to reward employees for their hard work and dedication to the company. It is also a great way for employers to incentivize their employees to work harder and increase the company’s profits. Profit-sharing plans can be used to supplement other retirement plans, such as 401(k)s, and can be tailored to meet the needs of the employer and employees.What is a Profit-Sharing Plan and How Does it Work?A profit-sharing plan is a type…
IntroductionA Keogh plan is a retirement plan that is available to self-employed individuals and unincorporated businesses. It is a tax-deferred retirement plan that allows individuals to save for retirement while also receiving tax benefits. The plan is named after the U.S. Congressman Eugene James Keogh, who introduced the plan in 1962. The Keogh plan is similar to other retirement plans such as 401(k)s and IRAs, but it has some unique features that make it attractive to self-employed individuals. This article will provide an overview of the Keogh plan, including its benefits, eligibility requirements, and contribution limits.What is a Keogh Plan…
IntroductionA self-directed IRA is a type of retirement account that allows individuals to invest in a wide range of assets, including real estate, stocks, bonds, and other alternative investments. Unlike traditional IRAs, which are limited to investments approved by the IRS, self-directed IRAs allow investors to make their own investment decisions. Self-directed IRAs are a great way for investors to diversify their retirement portfolios and take advantage of alternative investments. They also provide tax benefits, such as tax-deferred growth and tax-free withdrawals in retirement.What is a Self-Directed IRA and How Can It Help You Reach Your Retirement Goals?A Self-Directed IRA…
IntroductionA SIMPLE IRA (Savings Incentive Match Plan for Employees) is a retirement plan designed for small businesses and self-employed individuals. It is a type of Individual Retirement Account (IRA) that allows employers to make contributions to their employees’ retirement savings. Employees can also make contributions to their own accounts. The SIMPLE IRA is an attractive option for small businesses because it is easy to set up and maintain, and it offers tax advantages for both employers and employees.What is a SIMPLE IRA and How Does it Work?A SIMPLE IRA (Savings Incentive Match Plan for Employees) is a retirement plan designed…
IntroductionA SEP IRA (Simplified Employee Pension Individual Retirement Account) is a retirement savings plan that allows employers to make contributions to their employees’ retirement accounts. It is a type of Individual Retirement Account (IRA) that is designed to provide retirement benefits to self-employed individuals and small business owners. SEP IRAs are easy to set up and maintain, and they offer tax advantages for both employers and employees. They are also a great way to save for retirement without having to make large contributions.What is a SEP IRA and How Can It Benefit Your Retirement Savings?A SEP IRA (Simplified Employee Pension…
IntroductionA Traditional IRA is a type of retirement savings account that allows individuals to save for retirement on a tax-deferred basis. Contributions to a Traditional IRA are typically tax-deductible, and the earnings on the account are not taxed until they are withdrawn. Traditional IRAs are a popular retirement savings option for individuals who want to save for retirement in a tax-advantaged way.What is a Traditional IRA and How Does it Work?A Traditional IRA (Individual Retirement Account) is a retirement savings plan that allows you to save for retirement on a tax-deferred basis. This means that you can contribute pre-tax dollars…
IntroductionA Roth IRA is a type of retirement savings account that allows you to save money on a tax-advantaged basis. It is a great way to save for retirement, as contributions are made with after-tax dollars and all earnings are tax-free when withdrawn in retirement. Contributions to a Roth IRA are not tax-deductible, but the money grows tax-free and withdrawals in retirement are tax-free. This makes a Roth IRA an attractive option for those looking to save for retirement.What is a Roth IRA and How Can It Help You Reach Your Retirement Goals?A Roth IRA is a type of retirement…
IntroductionAn IRA contribution limit is the maximum amount of money that an individual can contribute to their individual retirement account (IRA) in a given year. The contribution limit is set by the Internal Revenue Service (IRS) and is based on the individual’s income and filing status. The contribution limit is an important factor to consider when planning for retirement, as it can help individuals maximize their retirement savings.What Are the Contribution Limits for an IRA?If you’re looking to save for retirement, an Individual Retirement Account (IRA) is a great option. An IRA is a tax-advantaged account that allows you to…
