One-Participant 401(K) as a Tool for Farmers and Ranchers (Feb. 1, 2024 Webinar)
February 1, 2024
With: Jessica Groskopf, Agricultural Economist and Extension Educator, UNL; Cory Walters, Professor, Agricultural Economics, UNL; and Doug Nelson, Certified Financial Planner, Adjunct Faculty (Child, Youth and Family Studies), UNL.
According to USDA, only 40% of farm households participate in some type of retirement account. For self-employed farmers and ranchers without full-time employees, the opportunity to invest in a One-Participant 401(k) plan is a way to (1) save money for retirement, (2) reduce taxable income, and (3) provide the potential option to borrow from the plan.