SIMPLE IRA vs. 401(k): What’s Best for Your Business? (Ep. 183)

What seems like a small business decision, choosing between a SIMPLE IRA and a 401(k), can quietly shape everything from your personal retirement strategy to your firm’s employee retention. 

The truth? It’s not just about cost. It’s about control, flexibility, and future-proofing your business and your finances.

Whether you’re a solo entrepreneur or managing a team, your retirement plan structure says a lot about your growth mindset.

In this episode of Retirement Unlocked, Larry Heller, CFP®, CDFA®, explores the practical trade-offs business owners face when deciding how much control they want, how much complexity they can handle, and how much opportunity they may be unknowingly leaving on the table.

Here’s what you can expect from this release:

• How contribution limits and tax credits differ between SIMPLE IRAs and 401(k)s
• How Safe Harbor rules can protect owners from compliance headaches
• Why profit sharing and vesting can impact employee loyalty
• The often-overlooked role of plan design in talent retention
• Why cost-saving now may cost you more later, financially and culturally
• And more!

Resources:

• An Employer’s Guide to 401k Plans: A Four-Part Series (Part I) (Ep. 144)

Connect with Larry Heller: 

• (631) 248-3600
• Schedule a 20-Minute Call
• Heller Wealth Management
• LinkedIn: Larry Heller, CFP®, CDFA®, CPA
• YouTube: Retirement Unlocked with Larry Heller, CFP®