#15 of “21 Critical Retirement Questions Answered” One at a Time by Gene Offredi CFP© RFC

Retirement Saving Terms And Issues

Q #15: “What’s a SEP account for small business owners and the self-employed?”

SEP stands for Simplified Employee Pension. SEP plans are offered to small business owners to set up for their employees. However, sole proprietors may contribute for themselves. You do not have to contribute the same amount every year, which allows you flexibility if you have a difficult year. Talk to a professional if you are interested in this account. There is a contribution limit.


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