Preview Mode Links will not work in preview mode

Financially Simple Bizcast


The Financially Simple podcast is your one-stop resource for small business owners. Gain unique insights into growing, refining, and selling businesses. You will hear ways business owners have reduced their tax liabilities, increased their income, improved office morale, saved for the retirement of their dreams, and more.
Host Justin Goodbread is a serial entrepreneur, award-winning CFP® (Certified Financial Planning professional), CEPA® (Certified Exit Planning Advisor), and CVGA® (Certified Value Growth Advisor) with years of experience guiding business owners from start to exit in their business.

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!

FULL TRANSCRIPTION:
https://financiallysimple.com/small-business-retirement-plans-comparison-pick-best/

_________________

 

TIME INDEX:

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

_________________

 

RESOURCES:

Financially Simple Educational Website

Financially Simple on YouTube

Financially Simple podcasts are recorded on a Blue Yeti Microphone & Samsung Notebook 9.

Subscribe to the Financially Simple Newsletter

NEW Book: The Ultimate Sale - A Financially Simple Guide to Selling Your Business for Maximum Profit

Publication 560, Retirement Plans for Small Business

_________________

 

BIO:

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.