Build the business.
Plan beyond it.

Start with the business you actually have

Retirement planning for an owner begins with practical questions: Who works in the business? How dependable is cash flow? What can you commit without putting operating reserves under pressure? A plan should support your household while remaining workable for the company.

Separate business revenue from the compensation or net earnings used for retirement-plan calculations. Ask your CPA and plan professional to use the same income information before estimating contributions.

Understand two common starting points

A one-participant, or solo, 401(k) generally covers an owner with no employees other than a spouse. The owner can contribute as employee and employer, subject to applicable limits. Hiring eligible employees can change the plan’s obligations.

A SEP is funded through employer contributions and can involve eligible employees as well as the owner. Contributions for employees must follow the plan’s allocation rules. The amount you want to save personally is only part of the total employer cost.

These are not the only choices. A SIMPLE IRA or a broader employer retirement plan may fit a different workforce. Compare eligibility, required employer funding, administration, and available features before selecting a structure.

Account for the work behind the account

Establishing a plan, making payroll elections, funding contributions, and completing required filings can involve different deadlines and responsibilities. Confirm who handles each step and what information that person needs from you.

A solo 401(k) can still have reporting obligations. If you also participate in another employer’s plan, your individual elective-deferral limit may need to be coordinated across plans. Do not assume a second business creates a second unrestricted employee contribution limit.

Connect the plan to life outside the business

Keep a personal balance sheet that includes assets outside the company. Consider how retirement saving fits with debt, cash reserves, insurance needs, and any intended business transition. The future sale value of a business is uncertain.

Your investment advisor, CPA, attorney, and plan administrator have different roles. UAA can address the confirmed planning and advisory work within its engagement; plan administration, legal documents, and tax preparation remain the responsibility of the appropriate professionals.

Review when the business changes

A new employee, a spouse joining the company, a change in compensation, or a pending sale can justify another look. Review the plan while there is time to act rather than waiting until a filing deadline.

Bring ownership information, employee details, payroll records, current plan documents, and a realistic cash-flow estimate. Contribution limits and rules change; verify the current year and your specific eligibility before funding.