If you’re considering a rollover to an SEP IRA plan, you’ll probably have a few questions to run by your financial advisor before completing the rollover process. In order to get the firm answers you need to make a solid financial decision about SEP IRA rollover, you’ll want to go into this meeting prepared. (more…)
Archive for the ‘SEP IRA Rollovers’ Category
Questions to Ask Your Financial Advisor about an SEP IRA Rollover
Posted by bobrichards on April 27th, 2010
Why Perform an SEP IRA Rollover?
Posted by bobrichards on April 22nd, 2010
SEP IRA rollovers are a financial tool that will allow you to consolidate your retirement savings into a single target rollover IRA. There are several advantages to performing this rollover, but there are also a few guidelines that you’ll need to keep in mind when performing SEP IRA rollover process. SEP IRA rollovers will allow you to maintain the tax deferred status of your money, while doing what’s best for you in the short term and for your long term investment goals.
The first and most common reason to perform a SEP IRA rollover is that you have access to a new type of IRA. This usually comes as part of a benefits package at a new job. Alternatively, you may also elect to establish a personal IRA outside of your current employer. In either event, be sure to contact the management of the newest IRA before you attempt the rollover from the SEP IRA accounts. A very common mistake is to request the rollover before the new SEP IRA account is ready to accept the transfer. This can trigger a whole host of problems that can be avoided by simply making that one phone call. (more…)
How Will My SEP IRA Rollover be Taxed?
Posted by bobrichards on April 8th, 2010
Aside from simply wanting to save money for their retirement years, most people participate in some form of retirement savings vehicle, such as an IRA, because they want to improve their tax situation – specifically, they want to pay less income tax. The fact that contributions to a retirement savings vehicle often have a tax deferred status is a primary selling point for IRAs. When you’re thinking about taking money out of an IRA, as in the case of a rollover, you may have questions about how that will affect the tax deferred status of your money. You’ll be relieved to know that the chances you’ll lose the tax deferred status of your money are very slim indeed. (more…)
Should You Transfer Your Funds to an SEP IRA Rollover Account?
Posted by bobrichards on April 4th, 2010
As you may already be aware, SEP stands for Simplified Employee Pension Plan, and an SEP IRA is a type of qualified plan designed especially for those who are self-employed or for employers who own small businesses. As with any qualified plan, an SEP IRA enables your retirement investment to grow over time, while deferring taxes until the funds are withdrawn. But does that mean you should transfer your existing retirement funds into an SEP IRA account? (more…)
What Rules Apply to My SEP IRA Rollover?
Posted by bobrichards on March 31st, 2010
An SEP IRA is different from a traditional IRA in that it’s designed specifically for small business owners and for people who are self-employed. In fact, the SEP stands for Simplified Employee Pension and, as the name suggests, an SEP IRA is, in many ways, simpler to use in terms of management and record keeping than other types of IRAs. If you have decided that the time is right for you to move your money out of an SEP IRA and into another qualified retirement savings plan, the process is fairly simple, but there are a few rules you’ll need to be aware of. (more…)