I am often asked about the best retirement plans out there for entrepreneurs and sole proprietors. There are a lot of choices and depending on your circumstances, one may be more appropriate than another. That's why on this episode we're glad to welcome back Michael Goodman for a little small business bootcamp! As the president of Wealthstream Advisors in New York City, Michael knows firsthand what it's like to run a small business. We'll touch on a variety of topics, including which retirement plan is the best choice for your situation. Among the options discussed:

Individual Retirement Account (IRA): You can choose a traditional IRA, where you pay taxes in the future or a Roth, where you pay taxes today.

Simplified Employee Pension (SEP-IRA): This is a good option for those who have up to 25 employees and want to offer a retirement benefit that is easy to operate.

Savings Incentive Match Plan for Employees (SIMPLE IRA Plan): SIMPLE plans were aimed at slightly larger small business owners (usually up to 100 employees), who wanted to provide employees a way to save for retirement.

Solo 401(k) plan: Alternatively referred to as an “individual 401(k)” or “uni-401(k),” this plan is geared to small business owners who have no employees (other than a spouse) and have the capacity to sock away a lot of dough.

This special episode is part of the Small Business Podference presented by Dell Technologies.

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