| OCR Text |
Show • The Gunnison Valley Gazette Page 6 Thursday, October 6, 2011 Women business owners need retirement plans The Outdoor Report If you're a woman who owns a small business, you've got plenty of company. In fact, women own more than 10 million U.S. companies, and women-owned businesses account for about 40% of all privately held firms in the U.S., according to the Center for Women's Business Research. Clearly, the good news is that women like you are entering the small-business arena at a rapid pace. The not-so-good news is that you may be facing a retirement savings gap in comparison to male business owners. To get a sense of this gap, consider these statistics: • According to the U.S. Small Business Administration's Office of Advocacy, 19.4% of male business owners have 401(k) or similar plans, compared with just 15.5% of women owners. • The percentage of female business owners with Individual Retirement Accounts (IRAs) is about the same as that of male business owners — but the men have more money in their accounts. The average woman's IRA balance is about $51,000, compared with $91,000 for men, according to a recent report by the Employee Benefit Research Institute. Although these figures change constantly with the ebbs and flow of the market, the difference between the genders remains significant. One way to help close this savings gap, of course, is to set up a retirement plan for your business. But for many women business owners (and male owners, too), the perceived cost of setting up and miming a retirement plan has been an obstacle. However, the retirement plan market has opened up considerably for small business owners over the past several years, so you might be surprised at the ease and inexpensiveness of administering a quality plan that can help you build resources for your own retirement — and help you attract and retain good employees. With the help of a financial professional, you can consider some of the myriad of plans that may be available to you: • Owner-only 401(k) This plan, which is also known as an individual 401(k), is available to selfemployed individuals and business owners with no full-time employees other than themselves or a spouse. You may even be able to choose a Roth option for your 401(k), which allows you to make after-tax contributions that can grow taxfree. • SEP IRA — If you have just a few employees or are self-employed with no employees, you may want to consider a SEP IRA. You'll fund the plan with tax-deductible contributions, and you must cover all eligible employees. • Solo defined benefit plan — Pension plans, also known as defined benefit plans, are still around — and you can set one up for yourself if you are self-employed or own your own business. This plan has high contribution limits, which are determined by an actuarial calculation, and as is the case with other retirement plans, your contributions are typically tax-deductible. • SIMPLE IRA — A SIMPLE IRA, as its name suggests, is easy to set up and maintain, and it can be a good plan if your business has fewer than 10 employees. Still, while a SIMPLE IRA may be advantageous for your employees, it's less generous to you, as far as allowable contributions, than an owner-only 401(k), a SEP IRA or a defined benefit plan. As a business owner, you spend a lot of time thinking about what needs to be done today, but you don't want to forget about tomorrow — so consider putting a retirement plan to work for you soon. Courtesy Photo Amy Anderson was able to harvest her first bull elk. She got this bad boy on the Manti unit with a muzzelloader. She had spotted this bull twice in July in the velvet but then he disappeared only to reappear the night before her hunt started. After two successful shots (40 yrds and 200 yrds) and a full day of tracking in the thick oak she found this unbelievable three antler, 6x10 bull the next morning. Amy says, "I couldn't have asked for a more memorable hunt with awesome friends and family." The Outdoor Report is Sponsored by: SATTERWHITE Family.Experimice.halily. 528-5001 Hwy 89 Northeast of Gunnison Open Monday - Saturday The First Word and Last Name in Log Homes! Think Satterwhite for Log Homes, Rough Lumber, Timbers, Animal Bedding and Firewood This article was written by Edward Jones for use by your local Edward Jones Financial Advisor. DREAMING UP THE IDEAL RETIREMENT IS YOUR JOB. HELPING YOU GET THERE IS OURS. Courtesy Photo Darin K Frandsen Financial Advisor www.edwardjones.com 446 South Mall Drive B-7 St George, UT 84790 435-627-2159 Member SIPC Edward J ones MAKING SENSE OF INVESTING On Sunday, September 18th, the Axtell 2nd Spanish Branch held an Eagle Court of Honor for five of their young men. Ashton and Maerick Starks, sons of Brent and Sabrina Starks; Christopher Olsen, son of Brian and Aytana Olsen, and Carlin and Macklin Johnson, sons of Lars and Diane Johnson all received their Eagle award. Two other boys, Nathan Olsen and Joshua Starks are awaiting their Board of Review and final approval for their Eagle Award. The Eagle projects improved areas for Gunnison City including the cemetery, the old fire house, and the city pool. This remarkable achievement would not be possible without the efforts of their former Scoutmaster, Brian Olsen. • • • • • • • • • • • • • • • • • • • • • • • • • • • • • •0• • • • • • • • • • • • • • • • • • • • • • • • ••••••••••••••••••••••• r171111n1 IA 111 a giB 6111]/J (fi)‘' (DJ @a EL ({11',2 olo_ttg Prices effective through October 11, 2011 Pharmacy Hours: Mon.-Thur. 9:30 am to 6:30 pm Fri. 9:30 am to 3 pm Closed Sat. Et Sun. 4/411* °A NrOvait.„/".44bv*4 Case Lot Sale al.Amr; Specialty Beans 2for$1 58e Western Family B oz. Reg. or No Salt Added Western Family 15 oz. with Beans Asst. Tomato Sauce Case of 4 404 120 Chill Con Came Western Family 10.5 oz. Chicken or Mushroom Soup 59c Willimette Valley Regular or Bacon Wrapped Tenderloin Steaks 1.991b. Western Family Western Family 15 oz. Select Varieties Western Family 14.5 oz. Asst. Tomatoes 0.16 •• • • • • • • • • • • • • • • • • • • • • • • • • 58c Western Family 7.25 oz. Original or 5.5 Spirals Mac 6 Chees 39c Crisp - l " Western Family 20 oz. Asst. Case of 24 4.36 PineappleCase of 24 980 130 Western Family 10.5-10.75 lop Raman tOfori aroma or Cauliflower 5901b. Custard Filled Eclairs - 2 pkg Dozen Fresh Baked Onion Dinner Rolls - 1.99 Delicious 6 ct. Apple Cobbler - 149 een Dean or Corr se of 24 Nissan 3 oz. Asst. cas e of 24 Fresh Scratch Bakery 14.5-15.25 oz. Chicken Noodle So 4 lo 25 lb. Bag Utah Yellow Onions $3.99ea. Beef Grilling/Broiling l-Done Steaks $6.99a Fresh Service Deli Columbus Sliced-to-Order Roast Beef $9.99 lb. Fresh Coleslaw - 149 lb. Hot $ Ready Chicken renders - 4.49 lb. • • • • • • • • •• •• •• •• •• •• • • • • • • • • • • • • • • • • • • • • • • • • • • • • • •• |
