You’ve decided to save for the future using a solo 401k, and you’ve named yourself the solo 401k custodian. But what does that mean? A solo 401k, also called a self-employed 401k, or an individual 401k, is a unique savings vehicle for small business owners without employees except for their spouses. That makes a self-employed…
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Answered by Shaykh Irshaad Sedick Question For a year, I was getting the company matching without investing in the 401K (I contributed to a stable index fund below the inflation rate to get the company matching). I thought this was a good idea at the time since there was no sharia-compliant fund in the 401K.…
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Retirement Plans for Self-Employed Workers When it comes to retirement, many freelancers write it off as a pipe dream. Finding eligible and friendly retirement options can be challenging for self-employed workers. We help you understand how an independent worker can open a 401k and some of the best retirement options for self-employed workers. To build…
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In general, there are some simple rules to follow. That being said, just because the rules are simple doesn’t mean you should follow them. This content was originally published here.
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Wednesday, July 20, 2022 .In June’s 401(k) Compliance Check, we looked at the importance of understanding your 401(k) plan’s definition of compensation and what to do if you had been applying your definition incorrectly. This month we will take a look at five policies or procedures that are important for proper 401(k) plan administration. Why is…
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There are several steps to set up a 401k plan for your small business employees. Today, smaller businesses struggle to offer substantial retirement packages compared to large corporations. According to recent studies, considerable benefit packages are one of the top factors in small companies retaining employees. As a small business owner, you should learn how…
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By Jordan Stewart Modern Christians are not habituated to think about money theologically. Aside from homilies kickstarting the financial giving campaign of the year, most preachers tip-toe their way around the subject of money. Tithing, evidently the only non-taboo topic related to money, is usually presented as a scriptural command and nothing more. The widespread…
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Troy Oz Silver strives to provide the latest precious metals market statistics, data and news feeds for investors around the world. Chart historical market data pulled from several sources across the web using the Precis du Jour utility service. This content was originally published here.
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In the case of a financial emergency, you might have to dip into your 401k plan to find the money you need. This is never an ideal scenario, as taking money out of such accounts can severely set back progress you’ve made in saving for retirement. However, desperate times call for desperate measures. Maybe you…
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As you age, you may begin to think about different strategies to save money for retirement. Investing in gold and silver or other physical precious metals through a specific individual retirement account can provide you with financial security for retirement. It is challenging to invest in physical gold using a standard 401k account. With a…
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