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Why set up a Retirement Plan

Why set up a Retirement Plan

A small-business retirement plan is simply good business on many levels. It has benefits for you, your employees (if you have any), and your business.

  • Jump-start your savings. As a small-business owner, planning for your retirement is entirely up to you. And if you employ others, you'll be helping them get on the right track for retirement too.
  • Benefit from tax breaks. All retirement plans offer tax deferred growth on earnings. As an employer, you also benefit from tax-deductible employer contributions.
  • Give your money a chance to grow. In addition to your plan contributions, the compounding of interest, dividends, and capital gains allows your account to generate earnings on top of earnings.
  • Attract and retain employees. Offering a retirement plan to your employees can keep you competitive in the job marketplace and help your business flourish.
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