It’s becoming that time of year again – only two months of 2015 remain, meaning the next 60 days are going to quickly carry us to the end of the year. That’s crunch time for the folks who have yet to setup a Solo 401k plan and the companies that have committed to helping them do it.
Only November and December still stand, each of the other months having had all of their days crossed out in red magic marker, their pages neatly extracted from the calendar and stored in an alphabetized filing cabinet archiving most of modern history by the all-too-organized people who always seem to possess more time than we ever remember having. These are the people who take their first LSAT 5 years before applying to law school, the overachieving individuals who send their first mortgage payments in before the payment coupon book arrives, and the members of society who generally irritate the people around them even if those feelings come from some frustrated form of jealousy. These people have also, not surprisingly, already setup their Solo 401k plans and as a result don’t have to worry about such silly things as deadlines or getting stuck paying way too much on their 2015 taxes.
For the rest of us, on the other hand, the final 8 weeks of 2015 likely hold more tasks for us to check off on more lists for us to find and consolidate from napkins, scratch paper, typed notes, and voice recordings than we care to think about. Add to this that a couple of those weeks are all but completely taken up with mega holidays that seem to suck the sand from our hour glass like a Dyson vacuum modified with forced induction and possibly pumped full of performance enhancing drugs. Ok, perhaps I’m a bit susceptible to frustration from these tendencies too.
So, what’s this post all about? Well, it’s not to suggest that you are an underachiever and it is certainly not to remind you of all that you have to do and how precious little time we often seem to have. This post is, however, intended to inform you that you still have time to take care of a really important money saving and future brightening task, but that you need to get on it sooner rather than later.
We looked at timing in setting up your plan from a different perspective in a previous Solo 401k deadline reminder post. You can read it here.
But you may want to go here to setup your Solo 401k plan first.