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Business Unplugged™
This blog features Carol Roth's tough love on business and entrepreneurship, as well as insights from Carol's community of contributors.

Want to Save BIG $ for Retirement? Here’s How You Can.

Written By: Catherine Morgan | Comments Off on Want to Save BIG $ for Retirement? Here’s How You Can.

Saving for RetirementAre you looking for ways to be able to save more for your retirement? Carol says entrepreneurs can put away more than $200,000 per year tax-free! In a recent post for she begins:

You work and you work and you work, and you save, but it never feels like you’re stashing away enough money. There are always so many expenses it can become overwhelming.

But fear not. There’s at least one way entrepreneurs can save a significant amount of cash for retirement. Let me explain.

There’s been a slew of legislation that is punitive to small-business owners, from minimum wage increases throughout the country to the so-called Affordable Care Act. The tax code isn’t much better, and with many entrepreneurs using pass-through entities that have them paying tax at a personal income tax rate (vs. corporate income tax rate), any future corporate tax reform is not likely to affect the average entrepreneur favorably.

However, there is one part of the tax code that is favorable for entrepreneurs and that’s around tax benefits for retirement savings.

Read the rest of the post here.

Article written by
Catherine Morgan is the founder of Point A to Point B Transitions Inc., a virtual provider of coaching services to individuals who are in business or career transition. She specializes in helping entrepreneurs transition to corporate jobs they love. Catherine is the author of the eBook Re-Launch You: Discovering Your Point B and Embracing Possibility. An experienced independent consultant who was employed by three of the former Big Five consulting firms, Catherine speaks frequently on topics related to career transition, small business, productivity, and mental health. She doesn’t take herself seriously, but takes her subject matter very seriously.