best retirement plan for a husband/wife with one employee?
this is their first retirment plan and they have only the one employee. what is the best plan that is not costly?
this is their first retirment plan and they have only the one employee. what is the best plan that is not costly?
Permalink Submitted by Denise Appleby on Fri, 2008-11-14 09:19
The determination of which plan is most suitable requires much more information. It depends on many factors which include:
Their ages
How much they have saved to date
Their retirement horizon
Is this a new business? And if so, do they expect high employee-turnover? And if not, have they experienced high employee turnover?
If high employee-turnover is an issue and a concern, you would need to consider what can be done to address that.
What are they looking for in a in plan…
And the list goes on and on…and on
In short, in order to provide the best solution for the client, you need to have them answer many questions so that it is understood why a particular plan was chose. This also helps to clearly delineate responsibilities under the plan.