Skip to main content
Message Font: Serif | Sans-Serif
No. of Recommendations: 0

Yes set up your SEP IRA. I beleive the maximum you can put in is 25K. I have a SEP and a traditioinal IRA. I chose the traditional IRA because of the income in my household for the Roth does not allow us to maximize it.

Your wife can set up both too. However with a Roth IRA it gets difficult because you both have income. Refer to the link below and it might help you out with regards to the Roth. Also your accountant should be able to figure out what is best for you.
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
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.