Financially Simple

In episode 192 of Financially Simple, Justin continues his discussion with Jennifer McConnell of July Business Services about 401(k) funds. There are two specific provisions of the 401(k) that are worth a closer look: Safe Harbor and Profit Sharing. Justin and Jennifer look at the Safe Harbor and Profit Sharing provisions and consider the pros and cons of each for a Small Business Owner. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! FULL TRANSCRIPTION: BLOG: Small Business Retirement Plan Comparison _________________   TIME INDEX: 01:04 - Exploring the Safe Harbor and Profit Sharing Provisions of a 401(k) 01:19 - Who Can Participate in a 401(k)? 02:31 - Can Minors Participate in a 401(k)? 03:09 - Do You Need to Contribute to Part-Time Employees? 04:03 - What is Safe Harbor 401(k)? 05:25 - SIMPLE Comparison 06:02 - Why Use a Safe Harbor 401(k)? 07:43 - Limitations for Small Business Owners 08:41 - How Profit Sharing Works 10:57 - How Much do Business Ow