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The SEP-IRA is for self-employed people and has
higher contribution limits than a regular IRA. You might think of it as a 401K for the self-employed.
In addition to your SEP, you can put $2000 a year,
at your salary probably non-deductible, in a regular IRA, or if your custodian is willing, you can add that non-deductible $2000 to your SEP rather than opening a separate account.
Regards, Chris
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