Sep 5, 2019
In episode 188 of Financially Simple, Justin looks at Simplified Employee Pension IRAs.
A SEP IRA allows Business Owners and the Self-Employed to contribute to their IRAs, using few nifty tricks. Justin explains why SEP IRAs are useful, the pros and cons, and when you might use one to maximize your IRA benefits.
Don’t forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening!
01:03 - SEP IRAs in All Their Coolness!
01:56 - Why Not Use a Regular IRA?
02:32 - What is a SEP IRA?
03:31 - What if You’re Self-Employed?
05:13 - Who Can Use a SEP?
07:20 - Starting a SEP
08:09 - The Pros
12:27 - The Cons
15:13 - Practical Planning Advice for SEPs
18:27 - Wrap Up
Subscribe to the Financially Simple Newsletter
Host Justin Goodbread, Certified Financial Planner, Certified Exit Planning Advisor, Certified Value Growth Advisor. He is a serial entrepreneur, author, speaker, educator, Investopedia Top 100 advisor, and business strategist with over 20 years of experience. Justin owns Heritage Investors LLC, a registered investment adviser with the State of Tennessee. Heritage Investors only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. This material is for general information only and is not intended to provide specific advice or recommendations for individuals. To determine what is appropriate for you, please consult a qualified professional. The Financially Simple podcast provides information, guidance, and support to Small Businesses in the United States.