401K-403B-401A-457-Plans  

The 401(k), the 403(b) and the 457 plans are similar — your employer offers the one designed for your type of organization. If you are self-employed, a small-business owner, or the employee of a small business, a SEP plan or a SIMPLE IRA are alternative ways to set aside money income tax-deferred for retirement. In some cases, only your employer (not you) can contribute to a 401(a). All plans let you contribute additional money into your own Traditional IRA or Roth IRA. However, If you are an active participant in a plan, your contribution to an IRA may be limited. Managing your total portfolio is a constant balancing act between providing the resources to grow your business versus maximizing your personal net worth and liquidity needs. Choosing the right capital structure for both your personal and business portfolio is a complex issue, as is determining and increasing the value of your business interests. It’s critical for you to have the resources you need to understand and manage both.

What is a workplace retirement plan?

It is estimated that most of the retirement income for U.S. workers will come from what they have saved through their employer-sponsored savings plan. Here’s how it works: you contribute part of your income into one of these retirement plans, then you manage the growth of that money federal income tax-deferred by purchasing investments such as mutual funds, stocks, bonds and ETFs through the plan. In addition, many plans also allow your employer to make optional contributions.