401K Plans
A 401K plan is a retirement savings plan that is usually sponsored by an employer, and allows participants to save for retirement tax free until the time that the participant withdraws the funds from the 401K account. Unfortunately for some, until 2001, 401K plans weren’t always a wise investment for self employed persons or individuals looking to purchase a 401K plan independent of a large corporation or employer. Thankfully, however, the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) changed some key tax rules to individual 401K plans, making them a wiser investment for individuals. With this relatively new world of independent 401K’s, it’s easy for consumers to get lost in the jargon and understand the best plan for their particular lifestyle. This is where the 401K experts at Joe Karsner & Associates can help. We can assist you in finding the right 401K for your lifestyle, and help you manage your account for the life of the policy. If you’re interested in learning more about purchasing a 401K retirement plan, please contact Joe Karsner & Associates at 410-551-8392.