Brian Boyd

And they reverse engineer it back saying, hey, you need to put in X amount of dollars to fully fund the plan for this year.

And then ostensibly, at the end of the plan, when you're ready to retire, you basically get a pension for life.

And if you have maxed out the plan, I've seen numbers showing that, yeah, your plan is going to pay you $280,000 a year for life.

That's incredible.

I mean, forget about social security.

Who cares about that?

It's a deduction now to you, very much like contributing to your 401k is a deduction.

It's before tax dollars going into the plan that's going to grow.

And once you finish funding the plan, it's yours for life.

Now, the great thing about it is

like your 401k, you can contribute $23,500 as an employee.

On the business owner side, you can contribute as an employee and the employer contribution to max out, I think it's around $69,000, $70,000.

The SEP is very similar.

This year, I think the number is $72,000 that you can fully fund, but that's 25% of your adjusted gross income up to whatever that number is this year.

I haven't looked at the indexing, but-

If you're over 50, you can contribute another $7,500.

It's a catch-up contribution.

For the IRA, there's also a catch-up contribution.

I think it's like $1,000 or something.

But...