A defined-benefit Keogh would allow you to sock away a lot more, with the amount you contribute depending on your age and compensation. It makes the most sense for someone older making a significant amount of money.
More Quotes from Ed Slott:
You used to think that you couldn't afford to make a mistake, but now it's really true. You need a ruling if you make a mistake and it can be corrected, but now it's just more important that you do things right, or that your adviser does everything right.Ed Slott
That's so ridiculous. Go up the chain and find out where on earth they got that policy. They could be costing people a lot of money.
Ed Slott
Ralph Jones IRA (deceased) FBO for the benefit of Marie Jones, beneficiary.
Ed Slott
It isn't a killer deal to drop 2 percent. Only if it's a huge holding. But the bigger the holding, the more market risk there is. I wouldn't bank on that.
Ed Slott
This way, if there are any problems, all the retirement money isn't at risk.
Ed Slott
Every time something like this has happened in the past, people were grandfathered into the program.
Ed Slott
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Based on Topics: Money & Wealth QuotesBased on Keywords: defined-benefit, keogh, sock
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