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Author: stone2824 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75335  
Subject: self employed retirement options Date: 12/18/1999 2:03 PM
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I am self employed and have been contributing yearly to
Ira mutual funds (now Roth converted). I have extra income I would like to get into retirement investments and am slowly starting to self direct my own investments. I would like to stick to a mix of mutual funds and individual stocks. I am 31 and very aggressive investor as time is on my side. I think I can invest $6000 per year in a SEP but am having a hard time finding confirmation. Any advice in any of these areas would be greatly appreciated.

Thanks

stone2824
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Author: Donna405 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 16571 of 75335
Subject: Re: self employed retirement options Date: 12/18/1999 9:02 PM
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Stone, go to www.quicken.com/retirement. There you will find all sorts of information on all available IRA's. Scroll down the page and note on the right a box wherein you can inquire into SEP-IRA's. I, too, am self-employed and used this information when I set up my SEP-IRA with Morgan Stanley.

Good luck,

Donna

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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 16587 of 75335
Subject: Re: self employed retirement options Date: 12/19/1999 11:35 AM
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Greetings, Stone2824, and welcome. You wrote:

<<I am self employed and have been contributing yearly to Ira mutual funds (now Roth converted). I have extra income I would like to get into retirement investments and am slowly starting to self direct my own investments. I would like to stick to a mix of mutual funds and individual stocks. I am 31 and very aggressive investor as time is on my side. I think I can invest $6000 per year in a SEP but am having a hard time finding confirmation. Any advice in any of these areas would be greatly appreciated.>>

As a self-employed person, you are eligible to open a SEP, SIMPLE or Keogh plan. Each has its advantages and disadvantages. Because you are talking in terms of a $6K annual contribution, I believe you are interested in a SIMPLE, not a SEP. Regardless, you may get an overview of each type of plan in my Foolish Retirement Plan Primer at http://www.fool.com/Retirement/Retirement.htm. For further details you should read IRS Publication 560 (Retirement Plans for Small Business), which you may download at http://www.irs.ustreas.gov/prod/forms_pubs/index.html.

Regards..Pixy

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