The Truth About 401(k) Plans for Small Business Owners

The Truth About 401(k) Plans for Small Business Owners

| May 11, 2026

The Truth About 401(k) Plans for Small Business Owners

On this episode of the No Lazy Money Show on WJR, financial advisor Nick Hopwood and host Ryan Ermanni sit down with Scott Westgate to discuss why nearly half of small businesses still do not offer a 401(k) plan to employees. Scott explains how offering retirement benefits can help small businesses attract and retain great employees, while also breaking down common misconceptions about the cost, time, and complexity of setting up a 401(k). Learn how retirement plans are more accessible and affordable for small business owners than many think.

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Listen to the full episode here: