BIF Bites: CFP and Financial Planning Resource Center

Choosing the Right Retirement Plan for Clients | BIF Bites

Written by Carrie Mick | Sep 4, 2026, 2:36:29 PM

Join Tiffany Guy CFP® and Kaylee Benting for this Labor Day special that turns retirement planning into a reality-show style matchmaking game. They introduce a self-employed entrepreneur and try to match her with different retirement plans, including SEP IRA, Solo 401(k), Simple IRA, Traditional IRA, and Cash Balance plans to see which plan she's most compatible with. We're looking at how each plan balances contributions, taxes, administrative complexity, and suitability for solo business owners versus growing businesses so you can apply what you learn to the CFP® Exam or to help your clients find their own perfect match retirement plan! 

 

3 Takeaways

  • Find out which plan is the strongest fit for high-income self-employed individuals without employees  
  • Discover which plans offer the highest contribution potential but come with significantly more administrative complexity and obligations.
  • See how some retirement plans serve simpler or more specialized needs but may limit optimization for high earners or growing businesses.

Try The BIF Review FREE for 30 Days

The BIF Bites Podcast offers great tips and helps reinforce your learning, but The BIF Review will provide the instruction and support you need to get exam ready. Try it free for 30 days and see how we've helped thousands of CFP® candidates pass the exam and earn their marks.