A: The factors to consider include:
- your age
- your contribution and deferral capability
- whether you are a sole proprietor or own a company
- whether you have common law employees
- when you wish to retire
- your tax situation
Do you seek to make the highest contribution and have the most flexibility? Also factor in the complexity you are willing to deal with. You can review the information on our website on our Plans page to receive information regarding plan aspects and contribution comparisons. You should also seek the services of a tax professional or financial planner to work with you on specifics.
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