---
title: How Retirement Plans Can Boost Your Savings and Future Wealth
description: A Qualified Retirement Plan can be a great tool for small business owners who want to save on taxes and grow their personal wealth at the same time.
---

[Insights | Oberlander & Co ](https://www.oberlanderandco.com/insights)

# [How Retirement Plans Can Boost Your Savings and Future Wealth](https://www.oberlanderandco.com/insights/save-taxes-with-a-retirement-plan)

 Written by [Oberlander & Co Team](https://www.oberlanderandco.com/insights/author/oberlander-co-team) | November 11, 2021

As the year comes to an end, business owners and individuals seek opportunities to maximize their savings through year-end tax planning. A Qualified Retirement Plan can be a great tool for small business owners who want to save on taxes and grow their personal wealth at the same time.

 

An IRA is an account set up with a financial institution that allows an individual to save for retirement, with tax-free growth or on a tax-deferred basis.

 

With a **traditional IRA**, you get a tax deduction when you contribute to the account and will pay taxes when you withdraw the money. Most people find themselves in a lower tax bracket once they retire. Therefore, the funds will be taxed at a lower rate when withdrawn.

- There are no income limitations when not covered by a retirement plan at work.

In a **Roth IRA**, you don't get the deduction when you contribute, but the money grows tax-free. The income from the growth is not taxable. 

For 2025 The IRA contribution limit is $7,000; for 2026, the limit is projected to be $7,500.

 

--

This webinar below is from or archives. It was presented by Jacob I. Oberlander, CPA, and Chesky Deutsch from CSD Financial in which we covered all the basic information of a company and individual retirement plans. 

 

Some of the topics discussed;

- What are the tax benefits of a Retirement Plan?
- What are the different versions of Retirement Plans?
- Am I too young to consider a Retirement Plan?
- Where can I invest my money within a Retirement Plan?
- Is my money locked until retirement?

 

 

 

| [Download the presentation slides](https://hubs.ly/H0_0KHW0) |
| --- |

 

[View full post](https://www.oberlanderandco.com/insights/save-taxes-with-a-retirement-plan)

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