I own a business as a proprietor and have had a SEP for several years. Recently I opened a Solo 401k as well. It is only me in the business. Is it ok for me to contribute to both during the year? How do I calculate the contribution limits for one or both of them?

You’ve made your resolutions-

Exercise regularly. Eat right. Fill in the blank…

If you jotted down, “Get out of debt”, “Earn more money”, or “Save more” … then you may be serious about improving your financial situation.

But like most well-intentioned Americans, you are likely wondering where to start.

First, examine the goal.

Is the goal SMART? You know…Specific? Measurable? Attainable? Realistic? Timely?

Start with your goal to save money.

How much money can you save per paycheck? If you aren’t sure, then let the bank do the work for you.