What is the best way to open a 401(k)?

Does it cost me anything to start one?

401(k)
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September 2017
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This is an excellent question and a bit more information would be helpful.

When looking at opening a 401(k) and the cost associated with it you will want to evaluate the census of the company, would a Solo 401(k) be possible (would need only owners and their family members as employees), how much are you looking to defer annually and other factors.

A Solo 401(k), if an option can be extremely low cost for you to set up but you need to qualify.

I would also explore other retirement plan options, in addition to the 401(k), such as a SEP IRA and SIMPLE and make sure that the 401(k) is the best option for you.  It would be wise to hire a fiduciary advisor to consult and advise you on your options based upon all of the facts of your situation.

Good luck!

September 2017
September 2017