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Author: ReneeJMorales Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76418  
Subject: Re: Don't qualify for 401K yet. Now what? Date: 9/4/2000 2:09 PM
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Sorry about the aborted first posting. I'm new to this!

What alternatives are available to my husband to keep his retirement savings moving forward?

My husband has recently changed employers and there is a 6-month waiting period before he can participate in the 401K plan. Up to this point he was contributing the maximum (10500).

We will make over 170K AGI jointly for 2000. We started a small side business this year that will net approximately $2300 for the year and are not currently taking any kind of salary from the business.

I have thought about setting up a SIMPLE for the business, but it seems that there are salary tests that he can't meet, even if he took all the net earnings as salary.

Can I set up an IRA for him, or will that fact that he participated in his previous employer's plan for part of 2000 rule out pretax contributions?

Any creative (and legal) suggestions are welcomed!

Thanks so much in advance.
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