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IRA or 401K for the Self employed
Posted on 1/28/13 at 12:56 pm
Posted on 1/28/13 at 12:56 pm
i have a single memember LLC and really need to look at saving for retirement. i am almost 27 and had a 401k at one point but withdrew it to start the business i currently run. it was through principle and my previous employer.
can anyone offer advice on the "best" way to start saving for retirement once again.
i am currently only saving through a normal savings account, but its not specifically for retirement.
can anyone offer advice on the "best" way to start saving for retirement once again.
i am currently only saving through a normal savings account, but its not specifically for retirement.
1
Posted on 1/28/13 at 1:00 pm to gsvar2004
SEP IRA
Posted on 1/28/13 at 1:17 pm to GimmieSomeGlitter
where would one go to initiate a SEP IRA?
bank, credit union, brokerage?
bank, credit union, brokerage?
Posted on 1/28/13 at 1:27 pm to gsvar2004
Sharebuilder.com is a decent option.
Recently bought by Capital One if that influences your choice.
Recently bought by Capital One if that influences your choice.
Posted on 1/28/13 at 2:24 pm to GimmieSomeGlitter
quote:
SEP IRA
Usually the best choice, unless you have a bunch of employees that have been with you 3 or more years. Do a Roth too if you qualify.
Posted on 1/28/13 at 3:43 pm to gsvar2004
American Funds, Fidelity, Vanguard.
I personally would choose American Funds or Vanguard. They have the lowest expenses for the most part on the funds.
I personally would choose American Funds or Vanguard. They have the lowest expenses for the most part on the funds.
Posted on 1/28/13 at 3:51 pm to GimmieSomeGlitter
quote:
I personally would choose American Funds or Vanguard
I would too, and did. lol
Posted on 1/28/13 at 8:35 pm to Vols&Shaft83
No employees. Just me.
My wife has retirement through her employer which is pretty good. We are about to have a baby so I really need to lock down some sort of retirement savings.
I'm going to check out y'all's recommendations. Thanks.
My wife has retirement through her employer which is pretty good. We are about to have a baby so I really need to lock down some sort of retirement savings.
I'm going to check out y'all's recommendations. Thanks.
Posted on 1/28/13 at 8:43 pm to gsvar2004
Just open a SEP at a brokerage firm. I would not be held captured to a fund family like American funds.
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