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Subject:  Re: Mom is 61, has NO retirement plan. Please ad Date:  2/2/2000  4:56 PM
Author:  TMFPixy Number:  18633 of 88775

Greetings, Alvigirl, and welcome. You wrote:

<<Mom is 62. She has no retirement plan. She's self employed and working hard.
She never learned to invest money. She thought that social security would take care of her, maybe she is a product of her generation...
I want to help! to make a plan and to explain it so it's not intimidating.
I'm just learning about investing myself. I thought we could open a SEPIRA, and a Roth IRA. Can one open a SEP after retirement age of 59 1/2?>>

Yes, she sure can. And she can have a Roth IRA at the same time, too. For information on the SEP, see my Retirement Plan Primer at and IRS Publication 560 (Retirement Plans for Small Business) available at


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