SEP IRA

Archive for September, 2010

Question: Opened new Sim IRA for rollover from empl retiremnt plan Did not roll Get mnthly chk How use IRA?

Married Age 58 Husband self employed No retirement Plan
Did not deposit anything into the SIMPLE IRA when I opened it in January 2007. So it sits there with a zero balance. Should I put in after tax dollars from my pension check? Before Tax dollars from husbands business? Can I use it at all?

Answer: after tax money out of you check!!!

Question: I am self-employed, no employees- other than IRA what other retirement plan can I have.?

Can I set up a SEP-IRA which allows a higher Contribution?

Answer: sure and you should do it!!!