Skip to main content
No. of Recommendations: 0
I am a self-employed individual(one man operation)and currently have an SEP-IRA. I am going to open another IRA account before April 17, 2000. After reading the IRS publications, it appears to me I would be better of opening a SIMPLE-IRA where I can contribute up to $6,000.00 per year, as opposed to a TRADITIONAL IRA where I'm limited to only $2,000.00 per year. From what I've read, it appears to me that a self-employed individual can have a SIMPLE-IRA account in addition to an SEP-IRA account.
Have I got this thing figured out correctly or not? Also, if I have both a SEP-IRA and SIMPLE-IRA, am I also allowed to fund a ROTH-IRA?
Thank you for your help!!

Print the post  


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.
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.