The SIMPLE retirement account is awesome if you own your own business. Any family business applies such as a home based or “brick and mortar” real estate rental and investment business, car-wash, gas station, restaurant, etcetera, can sponsor the SIMPLE IRA. Like the SEP-IRA, the SIMPLE IRA is company-sponsored. As a small business owner, for 2003 for instance you could have matched each employee's pay up to 3 percent or $8,000, whichever is less.
That adds up to a lot of money when it is a profitable business and family members are employees. SIMPLE IRA contributions are fully deductible when you put the money in the account but you will have to pay taxes on any profits you make on the stock when you retire. In addition to a SIMPLE IRA accounts, individuals and home based small businesses have an additional option to sock away money toward future retirement educational needs through educational IRAs.
Small businesses, which cannot afford to sponsor a 401(k) or 403(b), can also offer employees basic retirement plans established for the benefit of their employees. Sole proprietors also now also can open individual 401(k) plans. Examine the options and pick the one that maximizes your long-range savings goal. And don't wait. Take advantage of compound earnings and start socking away cash now for tomorrow.
ABOUT THE AUTHOR: Dr. Scott Brown, Ph.D., a.k.a. “The Wallet Doctor”, is a successful futures trader, real estate investor, and stock investor. Dr. Brown holds a Ph.D. in finance from the University of South Carolina. His 1998 articles in Technical Analysis of Stocks and Commodities were prophetic in predicting an impending stock market crash. He has helped many people become profitable investors by teaching them to look out over many years to spot stocks that are low and primed for rise in the new bull market. His second article met with approval by Dr. Bob Shiller of Yale University. Dr. Shiller is the economist that Alan Greenspan most highly regards who coined the term “Irrational Exuberance.” In 1998 he shouted to the world to “get out” of the stock market but now he is shouting to everyone that it is time to “get in!” The Wallet Doctor is not only sought after for investment advice and coaching in stock investing but also in futures trading and real estate investing. Visit Dr. Brown’s site at http://www.BonanzaBase.com or sign up for his investment tips at http://www.WalletDoctor.com
What do you think about this article? Do you agree or disagree with it? Be the first to comment on this article, and share your thoughts with the world. No registration is required to post comments.
Internet Marketing is very well-known home based business model that many are using to generate a full time online income and become wealthy online. What is Internet marketing and how are people using this to
Internet Marketing is very well-known home based business model that many are using to generate a full time online income and become wealthy online. What is Internet marketing and how are people using this to
The retirement account I am going to tell you about is really neat if you work for a small company or own a family business that is home based or "brick and mortar." A company-sponsored IRA can even be opened
You have a lock on your house. You have a lock on your car. You have a lock on your tool shed. Do you have a lock to protect your stock market investments?Maybe you have a safe at home for your valuables...
If you are serious about the success of your home based business, then Magnetic Sponsoring is the course for you. Be prepared to be changed by what you read. This resource will discover YOU and your reason for
Your dreams of owning a successful business can come true online. Tens of thousands have tapped into the power of Internet marketing as a means of replacing their traditional income. Each day people all...
Whether you are currently working for a successful company or you are a stay at home parent, there is a lot of money to be made in almost any type of venture that can be established with a home based business.
This particular article will be written with the intent of providing the best possible home based business review as well as allow you to discover all there is to know within this booming business.
Some Easy Ways To Start Home Based Business Ideas Ray Michel Just run a search for ?Home Based Business Ideas? and you would end with list of results that would be much longer than what you could go...
Exclusive to paying members of Wealthy Affiliate is the official forum where you could ask fellow forum members (or Wealthy Affiliates) questions about some of the services and tools which are offered on...
If you have a collection of silver half dollars and have made the decision to sell silver half dollars, it's likely that you have Walking Liberty, Franklin, or Kennedy half dollars, which are all 90% silver...
You probably don't want to be one of those people who end up working well into their 70s and beyond just because you cannot afford to retire. Taking steps now to make sure that you retire in the future can...
"Listening to the media I hear that the economy is doomed, the Federal Reserve has lost its influence and deflation will be the result, but printing money will cause inflation, all of it will cause devaluation
There is a reason that employers offer their workers 401ks, they work great and can help you save money for retirement. If you can't invest into a 401k or want to invest some additional money on top of it...
If you ignore your finances it will come around to bite you in the butt when you find yourself in massive debt and no money to pay for it. On the other hand, if you stay on top of it you can do very well on...
Money is one of those things that we all need and we all need to master. If you spend your life not thinking about your money and spending it on whatever you want then you are going to be broke more often...
There are 3 ways that you can earn income for yourself. Ideally you should be involved in each of these ways, at least until you can fully support yourself and be able to save money on top of that in one or...
For anyone who has made it their goal to discover how to make money, shedding the status quo is something that you are going to have to get comfortable with. For some, this may prove to be quite the feat...
I know that the topic of this article relates to creating ways to make money using the following five steps. However, if you follow these five steps, there is not a doubt in my mind that you will get...
Mutual funds were created with the idea that one person can specialize and manage the investments of a large pool of money from multiple investors. Before the great depression mutual funds were called...
Let's go into the details of why non-indexed mutual funds are such a bad deal. When Arthur Levitt became the head of the Security Exchange Commission in 1993 he had to sell off all of his individual stocks so
Arthur Levitt, during his tenure at the SEC, experienced many cases where the non-indexed mutual fund manager bought shares for their own accounts beforee the fund bought the shares. The fund's purchases...
Many investors think that investing in mutual funds is free. What nonsense! Funds collect more than $50 billion a year in fees from investors. That is truly a ton of money. The first way you get hosed in a
One among many ways you lose money in non-indexed mutual funds is the tax trap. You may have to pay taxes even when your mutual fund loses money! To many people this is painfully unexpected. Here is how...
Soft dollars, a form of legal kickback, is a sly way you can get ripped off by mutual fund managers. Full service brokers give these kickbacks to non-indexed mutual funds in the form of a "rebate" to purchase
Non-indexed mutual funds try to keep it secret that actively managed mutual very funds rarely do better stock market indexes. The higher fees of the managed funds really make it hard for these funds to out...
You have probably been hearing, seeing and reading that real estate investing is the best thing since sliced bread. There are many late night cable television infomercials spewing out sales pitches for courses
If you don't know what a Roth IRA is then stop everything, print this article and read it carefully as this will certainly be the most valuable information you read this year. This next retirement account...
There is nothing more valuable to a sentient being then peace of mind that comes from living each day from a place of love. The alternative is an existence where perception is based on fear as taught to us by
Article: Discover Safe And Easy Way Your Home Based Business Can Protect Your Dreams Of Retiring Wealthy! Author: Dr. Scott Brown, Ph.D. Publication Date: 2007-07-23 Total Views: 508 Word Count: 432 Category:Home /
Finance / Wealth Building
Categories
