Financially Simple Helps Entrepreneurs Choose Between SEP IRA and Solo 401(k)

FOR IMMEDIATE RELEASE

KNOXVILLE, Tenn. — About half of all families in the United States today have “no retirement savings at all,” according to a 2016 report from the Economic Policy Institute. With the Small Business Administration estimating that around 9 million American small-business owners fall into this group, confusion as to the best way of remedying this problem is common. A straightforward new video and accompanying guide at will provide plenty of answers, clarifying the difference between SEP IRAs and Solo 401(k) plans in ways that small-business owners can put to use in their own lives.

As a top online resource for everyone from entrepreneurs and retired people to those just getting started, Financially Simple publishes a wide range of useful, practical advice. The site’s brand-new guide to small-business retirement account options will be of great interest to readers ranging from longtime business owners to newly minted entrepreneurs. A successful business owner himself, the founder of Financially Simple understands what kinds of advice other entrepreneurs need and benefit from the most. As with all the features published at financiallysimple.com, the new video and guide are completely free to all visitors, with many more informative features to follow on a regular schedule.

“Saving for retirement is important for all working Americans, but especially so for small-business owners,” said Financially Simple founder Justin Goodbread. “Both SEP IRAs and Solo 401(k) plans can make excellent sense, but many small-business owners wonder which to choose. Like all the other features at our site, our new video guide to the matter is designed to simplify this topic in ways that will answer all the most common questions. We’ve got plenty of other new features in the pipeline, too, so we invite everyone to check back regularly.”

While the defined-benefit pensions of the past have become rare in the private sector, most employers of a certain size do offer retirement savings opportunities to their workers. According to the American Benefits Council, for example, more than 73 million workers in the United States actively participate in defined-contribution 401(k) plans, with nearly $4 trillion in assets residing in them collectively as of 2013.

Small-business owners, on the other hand, need to see to their own retirement savings arrangements. For those without employees, the decision often comes down to choosing between a form of the 401(k) that accommodates an individual and spouse, and the Simplified Employee Pension Individual Retirement Arrangement, or SEP IRA.

Available in both video and written forms, the new Financially Simple guide to the matter applies the site’s unique, widely admired explanatory approach to this important and fairly complex topic. In the space of a few minutes, readers will learn about the most important differences between these two options and how best to choose from them. From entrepreneurship and retirement planning to balancing a household budget, Financially Simple regularly simplifies complex financial matters for readers, as with the site’s brand-new guide to small-business retirement plan options.

About Financially Simple:
Simplifying difficult financial subjects in ways that anyone can understand, Financially Simple helps everyone from entrepreneurs and retirees to young professionals and growing families make better, more informed financial decisions.