SEP IRA

Archive for August, 2009

Question: What are my limits on contributing to all the retirement plans available to me combined?

I would like to contribute to an IRA, a 401k, a 403b, a SEP plan, a SIMPLE plan, and a Keogh plan, through multiple businesses and employments. So I would like to know what is the maximum Contribution using the combination of all of these accounts that I can make per year and which accounts are additive. Thank you.

Answer: Read IRS Publication 590.

http://www.irs.gov/pub/irs-pdf/p590.pdf

Investing and Retirement Planning Tips: Personal Finance 101 (Part 1)

realestate2cash_SDIRA4of5.mov

Question: Should I conver my IRAs to Roth IRA?

I make about $170,000 a year.

I have about $300,000 in SEP-IRA and $70,000 in regular IRA.

Also have about $35,000 in my current 401K.

Should I convert them to Roth?

I’m in a high tax bracket so I’ll take a “hit” now, but will it be to my advantage in the future?

Confused.
Oh and I’m 52 years old. Total savings around $750,000. My $300,000 house is payed for. I have no debts.

Answer: With those assets, you should be getting informed advice from a financial planner – not Yahoo advice.

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