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If you are self-employed or own your own business, retirement planning is an important part of your business plan. It allows you to plan not only for your future, but also for that of your employees, which is a great way to attract and retain good staff. |
At Bank of Canton, our Infinex Financial Advisor, Brian Allsop, can help you professionally manage your retirement benefits. He will take time to meet with you to discuss your retirement needs and those of your employees to determine the best retirement option for your company. He will then find the best products for you. He is an unbiased and objective resource that is uninfluenced by anything other than how to put all the elements of a successful plan together in a way that is best for his customers.
He can offer many investment vehicles, as aggressive or conservative as you want to be. Some of the retirement plan options include:
Retirement Plan Options
SEP (Simplified Employee Pension Plan)
A SEP IRA allows employers and self-employed individuals to establish a simple business retirement plan. The plan is flexible allows for tax deductible contributions that must be made for all qualified employees that are made directly into a Traditional IRA. As the employer, you may choose whether or not to make contributions from year to year.
SIMPLE(Savings Incentive Match Plans for Employees)
Is for companies with less than 100 employees without another qualified retirement plan that are looking for a retirement plan that is flexible and partially funded by employees. Employer contributions are not currently taxable to employee and earnings accumulate tax deferred.
Single (K)
If you own a family business there is now a solution called the Single (K). If you employ only immediate family members which include your spouse, grandparents, children and grandchildren, this plan was designed for you.
401(k)
A 401(k) is a salary deferral plan for employers. Employer contributions to the plan are tax deductible to the business* and the plan may provide a voluntary employer matching fund. The employer may make discretionary contributions any year, so long as allocation is nondiscriminatory.
Profit Sharing Plan
Allows you control over your company's plan. You have the option to make a discretionary contribution on behalf of your eligible employees and can choose to vary your contribution from year to year.
As you can see, the retirement planning process can seem complicated. Let our objective Financial Advisor help you to create a plan that works for you. Contact us today for a free, no obligation consultation.
Brian Allsop
Investment Executive
Infinex Financial Group located at Bank of Canton
Phone: (781) 737-1918
*Consult tax advisor.
Investment products and services are offered through INFINEX INVESTMENTS, Inc. Member FINRA/SIPC. Insurance products are offered through Infinex Insurance Agency of Massachusetts, Inc. Infinex and the bank are not affiliated. Products and services made available through Infinex are not insured by the FDIC or any other agency of the United States and are not deposits or obligations of nor guaranteed or insured by any bank or bank affiliate. These products are subject to investment risk, including the possible loss of value.