I am looking for a good retirement plan. I am 40 years old and have being living in the USA for 7 years. I am self employed. Does anyone have some suggestions? I don`t have any clue where to start. Thanks for your imput.
A.-
I am self-employed and my financial advisor set me up with a Single K plan a few years ago and it has done well. You can deduct all your contributions off taxes. You can contribute up to $42K a year. My advice would be to talk to a financial planner if you can. Here is the website for the company that I use. I have the Single K account.
https://www.oppenheimerfunds.com/investors/service/accoun...
A.,
Try Oppenheimer Funds Single K Plan available through Wachovia Securities
A.
My name is O. Chang and in my 40's like you. I am a registered representative with New England Financial since 1995. Retirement plan is one of the financial products that we can design for our clients. If you are interested, please give me a call at ###-###-####.
If you are self-employed, the most probable plan would be a Self-Employed Pension Plan (SEP).
Hi A. -
You have many choices for saving for retirement - and deciphering them all is daunting. I recommend you use the internet to thoroughly research the different options before you speak to a "professional" - remember, professionals, although extremely helpful, also have their own opinions about good strategies. And we all know opinions aren't fact! So at least if you do research ahead of time you'll be armed with enough knowledge to ask the right questions. For money advice, one of the best websites out there is www.smartmoney.com. I went there and found this - http://www.smartmoney.com/retirement/ira/index.cfm?story=...
which has a great table laying out your options for saving as a self-employed person, as well as explanations of each available choice.
Good luck!
S.
A SEP IRA would probably be a good fit. You can open an account through mutual fund companies, discount brokerages, etc.
