SEP IRA vs SIMPLE IRA (FOR SELF-EMPLOYED)

SEP IRA vs SIMPLE IRA (FOR SELF-EMPLOYED) | Are you self-employed or do you run a small business? Would you like to lower your taxes & start saving for retirement? This video teaches you two ways you can do this! At the end, we’ll do a SEP IRA vs SIMPLE IRA comparison to help you decide which is best for you!
#sepiravssimpleira #districtcapitalmanagement
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0:00 - SEP IRA vs SIMPLE IRA (FOR SELF-EMPLOYED)
0:26 - Using a SEP IRA as your retirement plan
5:50 - Using a SIMPLE IRA as your retirement plan
8:01 - Which is best for you?
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Simple, Smart Investing by Ian Kennedy (can help you construct your investment portfolio)
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A Random Walk Down Wall Street by Burton G. Malkiel (classic book that sold me on index funds) amzn.to/2H7pbzS
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[@DistrictCapital]

Any self-employed out there watching this thinking of setting up a SEP or SIMPLE?

[@kbz311]

Such a helpful video! Love the short but thorough overview of these two types of IRAs.

[@DistrictCapital]

Thanks Kateri!

[@AGSwarnson]

Loved this video! Well laid out, thank you!

[@DistrictCapital]

Thanks Aaron!

[@moisengwa9904]

Very good teacher! You teach calm, composed with a good knowledge of the both SEP and SIMPLE IRAs.
Thanks

[@DistrictCapital]

Thank you very much. I appreciate your comment!

[@collinrobinson1864]

Much appreciated, this was a very clear and concise breakdown of the two accounts.

[@DistrictCapital]

Thank you for your comment. I appreciate it!

[@pjre4998]

Very nice video and great explanations. My question is can I open up a Simple IRA and a SEP at the same year?

[@keppela1]

Thanks for the video! Very helpful. One question: you said you could earn dividends or capital gains with money in a SEP or SIMPLE IRA. Do you have to keep track of all these gains over the years (potentially decades) because IRS will expect you to pay taxes on them after you retire? This is one very confusing aspect of IRAs to me. Thanks much!

[@emilygriffioen7172]

What happens if i switch jobs and start a job that provides a w-2 and leave behind my small business? Would I no longer he able to contribute to a simple or sep ira?

[@CreativeSoul333]

So, I just quit my job and I had a SEP retirement plan with them. Can I leave my SEP with the company managing my money and leave it as a SEP IRA even if I am not a business owner? Or, do I have to move my money into a different type of an IRA?

[@DistrictCapital]

Hi Deborah, thanks for the question. You may be able to leave it, but you will want to call the custodian of the SEP account and ask them what your options are for that particular SEP account.

[@DistrictCapital]

0:00 - SEP IRA vs SIMPLE IRA (FOR SELF-EMPLOYED)
0:26 - Using a SEP IRA as your retirement plan
5:50 - Using a SIMPLE IRA as your retirement plan
8:01 - Which is best for you?

[@greyhk2]

yuck, self employed should look at solo 401k over both these iras

[@DistrictCapital]

That will be our next video!

[@DistrictCapital]

Here's our video on solo 401k vs SEP IRA ruclips.net/video/wB7F90yM_Bk/видео.html