SEP IRA

Archive for July, 2010

Question: What is the difference between a TSP and a SIMPLE IRA? They have different Contribution limits?

I am talking about the Thrift Savings plan that federal employees have access to. Does anyone have a good comparison?
I have a good understanding of SIMPLE and ROTH IRAs, so if you could relate to that, I would be grateful.

Answer: I’m not a financial advisor but I’ll give this my best shot.

My understanding of the Thrift Savings Plan (TSP) is that it is an employers sponsored plan similar to a 401K in the private sector. So one of the main differences is that an Independent Retirement Account (IRA) is, as the name implies, independent, ie. not sponsored by an employer and therefore is set up by the individual employee. I believe the Federal Government may offer some type of “matching” funds, ie. if the employee puts money into the TSP the government will match it up to a certain level. If this is the case it is WAY better to invest in that than in an IRA for which you would receive no matching money from the government. I do not know if the TSP puts in before or after tax dollars. If you work for the Federal Government you can ask your personnel office for help. If you search for it online you should probably find many details.

Finance & Investment Tips : What Is a IRA Account?

Question: Is there a way to find out share price history?

I started contributing to a SIMPLE IRA thru my employer in January, so far i have contributed $510 and my employer shoud have contributed $172, my account was not even opened until august (after they had been deducting payments from my payroll for 8 months) and they have so far only deposited about $120. Im concerned for the investment time lost and was curious to what i would have purchased the same shares for if my funds would have been forwarded to my ira in a timely fashion.. anyone know of a website where i can get share price history on particular funds?.. any input appreciated.. thank you!

Answer: II am not sure whether you are looking for historical info on individual shares or mutual funds.

For individal shares, try Yahoo Finance: http://finance.yahoo.com/

For mutual funds go to Morningstar:

http://www.morningstar.com/cover/funds.aspx

VAN CAMPS PORKS & BEANS THE SIMPLE LIFE

Roth IRA and Silver ETF SLV