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SEP 401(k)
Posted on 9/26/17 at 9:16 am
Posted on 9/26/17 at 9:16 am
I have a 401(k) from a previous employer that I would like to roll over into a SEP 401(k). What is the best way to set up a SEP? Through my CPA, financial planner (Northwestern Mutual), bank, etc.?
2
Posted on 9/26/17 at 10:01 am to FredSecunda
SEP and Solo 401(k) are different plans with different contribution limits.
I would say do it through whichever entity charges no commissions. Zero reason to pay loads on mutual funds to someone at Northwester Mutual or your bank just because you are transferring your account. If you want to manage it your self I would look at Fidelity as their pricing on Solo(k) is pretty good.
eTrade would be a good option if you want to get some advice on investing. If your assets are large enough you might want to find a Registered Investment Advisor to work with.
I would say do it through whichever entity charges no commissions. Zero reason to pay loads on mutual funds to someone at Northwester Mutual or your bank just because you are transferring your account. If you want to manage it your self I would look at Fidelity as their pricing on Solo(k) is pretty good.
eTrade would be a good option if you want to get some advice on investing. If your assets are large enough you might want to find a Registered Investment Advisor to work with.
Posted on 9/26/17 at 3:04 pm to Maderan
I set up a SEP for my wife and I for our business through Schwab. It was extremely easy, like 4 pages of very basic paperwork.
Absolutely no reason to go through a 3rd party, the whole idea of a SEP is its "Simple".
Absolutely no reason to go through a 3rd party, the whole idea of a SEP is its "Simple".
This post was edited on 9/26/17 at 3:05 pm
Posted on 9/26/17 at 8:21 pm to FredSecunda
If you're in the market for a hearty chuckle, go to your bank and ask the teller to open a SEP.
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