menu
Posted by
Message
gsvar2004
LSU Fan
Deep in the woods
Member since Nov 2007
1259 posts
Online

IRA or 401K for the Self employed

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.


GimmieSomeGlitter
Ole Miss Fan
GreenBOW ALABAMA!
Member since Aug 2011
491 posts

re: IRA or 401K for the Self employed
SEP IRA


gsvar2004
LSU Fan
Deep in the woods
Member since Nov 2007
1259 posts
Online

re: IRA or 401K for the Self employed
where would one go to initiate a SEP IRA?

bank, credit union, brokerage?


Siderophore
LSU Fan
Member since Nov 2010
3335 posts

re: IRA or 401K for the Self employed
Sharebuilder.com is a decent option.

Recently bought by Capital One if that influences your choice.


Replies (0)
Replies (0)
Vols&Shaft83
Tennessee Fan
Throbbing Member
Member since Dec 2012
27626 posts

re: IRA or 401K for the Self employed
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.


Replies (0)
Replies (0)
GimmieSomeGlitter
Ole Miss Fan
GreenBOW ALABAMA!
Member since Aug 2011
491 posts

re: IRA or 401K for the Self employed
American Funds, Fidelity, Vanguard.

I personally would choose American Funds or Vanguard. They have the lowest expenses for the most part on the funds.


Vols&Shaft83
Tennessee Fan
Throbbing Member
Member since Dec 2012
27626 posts

re: IRA or 401K for the Self employed
quote:

I personally would choose American Funds or Vanguard


I would too, and did. lol


gsvar2004
LSU Fan
Deep in the woods
Member since Nov 2007
1259 posts
Online

re: IRA or 401K for the Self employed
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.


Janky
LSU Fan
Team Primo
Member since Jun 2011
11172 posts

re: IRA or 401K for the Self employed
Just open a SEP at a brokerage firm. I would not be held captured to a fund family like American funds.


Replies (0)
Replies (0)
first pageprev pagePage 1 of 1next pagelast page
refresh

Back to top

logoFollow TigerDroppings for LSU Football News
Follow us on Twitter, Facebook and Instagram to get the latest updates on LSU Football and Recruiting.

FacebookTwitterInstagram