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Best retirement option for 1099 employees?

Posted on 4/1/16 at 7:12 am
Posted by Panny Crickets
Fort Worth, TX
Member since Sep 2008
5596 posts
Posted on 4/1/16 at 7:12 am
Trying to help out a few of my 1099 folks.

Simple IRA?

Individual 401(k)?

SEP?

Pickle jar buried in the back yard?

Appreciate any input and advice!
Posted by hombreman9
USA
Member since Feb 2009
3781 posts
Posted on 4/1/16 at 7:17 am to
I would vote for solo 401k as well as annual roth contribution or backdoor roth conversion every year. Allows you to put the most away.
Posted by iknowmorethanyou
Paydirt
Member since Jul 2007
6550 posts
Posted on 4/1/16 at 8:00 am to
What kind of net SE income are we talking here?
Posted by LSUFanHouston
NOLA
Member since Jul 2009
37162 posts
Posted on 4/1/16 at 9:07 am to
Solo 401K have higher administrative costs than a SEP, but at the lower income levels you can pile more money into a Solo 401K.

Of course, at the lower income levels, you probably have less actual cash that you can invest that you don't need for everyday life.

Posted by GFunk
Denham Springs
Member since Feb 2011
14966 posts
Posted on 4/1/16 at 10:58 am to
quote:

Panny Crickets
quote:

Trying to help out a few of my 1099 folks.


How many of them do you have on non-competes?

How many of them wear a uniform that references your company?

Do any of them say they work "for you"?

Do any of your customers think they work for your company?

Just curious...
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