No. of Recommendations: 0
Greetings, GoldenBuckeye, and welcome. You wrote:

<<I need some opinions here. I am self employed and was wondering which retirement plan I should use, Roth IRA, SEP IRA, or a Keogh Plan.>>

Each has its advantages and disadvantages, so it's literally impossible to offer an opinion on which type of arrangement may be appropriate for your situation. Also, while the use of a SEP-IRA precludes the use of a Keogh and vice versa, both may be used in conjunction with the Roth IRA. Accordingly, which of the three you use will depend on your self-employed income, desires for tax deferral, willingness to pay administrative/implementation costs, and a whole host of other issues.

To see what's involved, you may want to get an overview of the SEP and Keogh by reading my Foolish Retirement Plan Primer at http://www.fool.com/Retirement/Retirement.htm. You should also download and read IRS Publication 560, Retirement Plans for Small Business, available at http://www.irs.ustreas.gov/prod/forms_pubs/index.html. Both will give you a better understanding of the issues involved in making this choice.

Regards..Pixy
Print the post  

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement