Bill Roth was a Senator from Delaware. He realized in the late 1990s that savings rates were too low in the U.S. and he endeavored to find a solution. Enter the Roth IRA. Contributions to a Roth IRA won’t reduce your tax bill now because, while pretax salary goes into a Traditional IRA, after-tax money funds the Roth.
Changing jobs is a much more frequent occurrence than it used to be. Eventually people even retire (at least that is what I hear). When either of these events occurs, it is too many times the case that a person might not know exactly what to do with their former employer plans (we are dealing with 401k’s here, but most of this also applies to 403b’s).
A look at some of the choices.
The Solo 401(K): A retirement savings vehicle designed for the smallest businesses.