Scenario SE Income Age Type of Contributions Plan Elective Catch-up Employer Total Deferral Contribution Contribution Contributions $ 17,500 $ 5,500 $ 33,500 $ 56,500 1 $270,000 52 401(k) SEP 0 0 51,000 51,000 12,000 2,500 7,480 21,980 IRA $ 17,500 $ 0 $ 33,500 $ 51,000 2 $270,000 40 401(k) SEP 0 0 51,000 51,000 12,000 0 7,480 19,480 IRA $ 17,500 $ 5,500 $ 28,188 $ 51,188 3 $150,000 52 401(k) SEP 0 0 28,188 28,188 12,000 2,500 4,156 18,656 IRA $ 17,500 $ 0 $ 28,188 $ 45,688 4 $150,000 40 401(k) SEP 0 0 28,188 28,188 12,000 0 4,156 16,156 IRA 5 $15,000 52 $ 13,940 $ 0 $ 0 $ 13,940
Scenario SE Income Age Type of Plan Contributions Elective Deferral Catch-up Contribution Employer Contribution Total Contributions 1 $270,000 52 401(k) $ 17,500 $ 5,500 $ 33,500 $ 56,500 SEP 0 0 51,000 51,000 IRA 12,000 2,500 7,480 21,980 2 $270,000 40 401(k) $ 17,500 $ 0 $ 33,500 $ 51,000 SEP 0 0 51,000 51,000 IRA 12,000 0 7,480 19,480 3 $150,000 52 401(k) $ 17,500 $ 5,500 $ 28,188 $ 51,188 SEP 0 0 28,188 28,188 IRA 12,000 2,500 4,156 18,656 4 $150,000 40 401(k) $ 17,500 $ 0 $ 28,188 $ 45,688 SEP 0 0 28,188 28,188 IRA 12,000 0 4,156 16,156 5 $15,000 52 $ 13,940 $ 0 $ 0 $ 13,940
Choosing_a_Retirement_Plan_for_the_Self_employed.docx