| Roth Vs Sep for Small Business Owner |
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Swordfish
New Member
Cash: $ 1.30
Posts: 6
Joined: 12 Mar 2007
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| Roth Vs Sep for Small Business Owner |
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I am considering going with a SEP IRA only to lower my end of year taxable income... however the ROTH IRA seems to be the smarter IRA of choice as the gains are not taxed.
I am 27 now and want to start making the maximum contributions by making 12 monthly payments.
Should I open the IRA up my current bank or is there a recommended bank you guys use here?
Thanks
Bass Fishing Reports
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Sat Mar 17, 2007 12:53 am |
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coaster
Senior Advisor
Cash: $ 1356.20
Posts: 6678
Joined: 11 Oct 2005
Location: Wisconsin
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I wouldn't open up an IRA with a bank. They'll kill you with fees and commission products. Go with one of the big mutual fund families or online discount brokers.
~Tim~
Eye Candy : Why Whimsy
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Sat Mar 17, 2007 2:47 am |
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Swordfish
New Member
Cash: $ 1.30
Posts: 6
Joined: 12 Mar 2007
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ok, after reading a book on Retirement, SEP IRA is the best option for me..
I'll probably go with ingdirect.
Bass Fishing Reports
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Sat Mar 17, 2007 8:01 pm |
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BlankenshipFP
Money Talk Advisor
Cash: $ 79.56
Posts: 390
Joined: 05 Oct 2004
Location: Illinois
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Depending upon your level of income and how much you can afford to defer, a 401(k) may be a better option for you. You can deduct up to $44k (or 25% of income) as the ER, and up to $15,500 as the EE, reducing income substantially in most cases. Plus you can still make your Roth IRA contributions...
Jim Blankenship, CFP®, EA
Blankenship Financial Planning, Ltd.
www.BlankenshipFinancial.com
Standard IRS Circular 230 Notice Applies
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Mon Mar 19, 2007 3:50 pm |
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chillin5978
New Member
Cash: $ 1.80
Posts: 8
Joined: 22 Jun 2007
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Tax advantages and great interest rates make MetLife Bank IRAs an appealing choice for smart savers. You can contribute to a MetLife Bank IRA even if you already have an employer-sponsored retirement plan.
Make a TON of Money for less than $10.00
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Thu Jun 28, 2007 2:18 am |
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