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Independents

In a nutshell, your choices are: SEP-IRA, money purchase plan, pension & profit sharing plan, 401k, deferred compensation plan, IRA, Roth IRA, tax-deferred annuity, taxable investment account.

Option 1. Employer investment plans.
You may be able to "buy through the biz ". If your company doesn't have a plan, start one! Your plan options include SEP-IRA, money purchase plan; pension & profit sharing plan; 401k; deferred compensation plan.

Where to go: Options include: 1) RetireMite™ and a discount broker 2) broker, bank, credit union 3) a financial planner 4) deal direct with a company rep 5) one of the low-cost fund companies. 

What to do:  Tell the provider the vehicle you need (if you know it) and the amount you are investing. They'll help you make selections that fit your profile & optimized portfolio. 


Option 2. Accounts you manage.  
That is, accounts you open in your name, not the business'. Your options include an IRA; Roth IRA; tax-deferred annuity; taxable investment account. 

Where to go and what to do: Same drill as above, just open the accounts in your name, not the business'.  

Vehicle selections will vary depending on your "employer's plan" and how you are affected by tax laws. It's usually a good idea to exhaust tax-deferred & tax-free opportunities first. See your tax advisor. 

Maintain all your retirement accounts in one place. Click to see how RetireMite™ automatically checks all your investments with your balanced portfolio model.  Get easy-to-understand graphs and printed reports of all your holdings. It's quick and easy.

This information site is provided as a public service by: RetireMite ... for a retirement you can live with™ . Buy it now, you'll be glad you did!
Copyright © 2002 D. Murphy & Associates, Inc. All rights reserved.