What Retirement Plan Is Best For Self Employed?

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   David RacichPRO

   Fountain Hills, Arizona

   For the self-employed, selecting a retirement plan is a question of your total income and ease of administering the plan. If you’re not making that much money a simple individual retirement account (IRA) or Roth IRA should suffice. But if you’re making six figures or more you may want to look into a Simplified Employee Pension Individual Retirement Arrangement (SEP IRA) that can contribute up to 25% of your income with a cap limit of $51,000 for 2013.
    
   
   

   Answered on July 6, 2013

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