Plan options for a self employed, 58 year old sole employee

[kwalified]

Adviser suggested a DB plan but that seems too archaic and costly for one participant. He is 58, has nothing in retirement, makes $240K a year and has about $72K to play with annually. I suggested a SEP or Uni-K and/or 412(i) plan. Agree? Disagree?

[WDIK]

There is merit to the advisor's suggestion based on the limited information provided.

[ETA Consulting LLC]

Well, the owner could easily get $55,500 into a uni-k each year, so the question becomes how important is the additional $17,000. Anything above $55,500, he'd have to look at a DB unless he has a spouse to add to the payroll. Keep in mind that a 412(e) is a DB plan.

Good Luck!