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With the passage of the One Big Beautiful Bill Act (OBBBA) in July 2025, the federal government established a new, federally sponsored investment account for children called “Trump Accounts.”
Only about 20% of U.S. workers have access to a pension, and just 7% contribute to an additional retirement plan alongside one. If you’re fortunate enough to have a pension, you have a tremendous opportunity to get ahead of not only your peers, but the workforce as a whole.
Put simply, if you start collecting Social Security before your Full Retirement Age (FRA), your benefits could be significantly reduced or even completely withheld if your income surpasses certain limits.
Switching jobs can be both exciting and nerve-racking. Along with the obvious stressors of starting somewhere new, there’s the less-obvious question of what this change means for your retirement accounts.
As a self-employed business owner, setting up the right retirement plan for your situation is crucial to lowering your annual tax bill today and securing your financial independence tomorrow.
