Keogh
plan is a qualified tax-deferred retirement plan targeted to the
self-employed. Administrative fees are generally higher on Keogh
plans than on individual retirement accounts, because Keoghs are
more complex. Yet Keoghs typically allow higher contribution
amounts. Therefore, self-employed people who make good money often
find that a Keogh's benefits outweigh its costs. When they sell,
incorporate or retire, they may choose conversion to a lower-cost
IRA.
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