Have any fellow members with substantial self employment income beyond the ~$122K deferral available for Solo 401(k) looked into NQDC vs cash balance plans?
I'm interested in real world feedback from anyone who's done one or both and in particular, pitfalls and real costs? Are there any modeling tools available worth using? There are articles online, but many seem to be copy and paste jobs, and most are geared toward (usually megacorp) employees, not the self employed.
At a simple level, it seems like $1-2K/year of third-party admin/management fees would be easily worth a potential 30% net savings (assuming ~40% marginal tax rate now and 10% in retirement).
I'm interested in real world feedback from anyone who's done one or both and in particular, pitfalls and real costs? Are there any modeling tools available worth using? There are articles online, but many seem to be copy and paste jobs, and most are geared toward (usually megacorp) employees, not the self employed.
At a simple level, it seems like $1-2K/year of third-party admin/management fees would be easily worth a potential 30% net savings (assuming ~40% marginal tax rate now and 10% in retirement).
