Self-employed Retirement Plans Brookings SD

A SEP IRA is a retirement account for self-employed professionals and business owners. For 2008, you are eligible to contribute up to 25% of your adjusted gross income with a cap of $46,000. One of the great benefits of a SEP IRA is that the money goes in pre-tax, grows tax deferred and you are eligible to save much more than if you had a 401.

Mr. Tracy R. Odegaard, CFP®
(605) 692-1814
419 8th Street South
Brookings, SD
Firm
TRO Investments Inc.

Data Provided by:
Dr. Kathryn J. Morrison, CFP®
(605) 688-5196
Box 2275A
Brookings, SD
Firm
South Dakota State University

Data Provided by:
Wells Fargo Advisors
(605) 692-5501
309 4th St
Brookings, SD

Data Provided by:
Verlyn Earl Hahn, CFP®
(605) 275-3600
3101 S Phillips Ave.
Sioux Falls, SD
Firm
Hahn Financial Group, Inc.

Data Provided by:
Mr. Erik D Syverson, CFP®
(605) 361-4002
4009 West 49th Street, Suite 201
Sioux Falls, SD
Firm
UBS Financial Services
Areas of Specialization
General Financial Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: $500,001 - $1,000,000

Profession: Medical/Dental Professionals

Data Provided by:
Mr. Erich L. Olson, CFP®
(605) 692-6643
307 6th St.
Brookings, SD
Firm
Thrivent Financial for Lutherans
Areas of Specialization
Insurance Planning, Investment Management, Retirement Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

Average Income: $50,001 - $100,000

Profession: Not Applicable

Data Provided by:
Wells Fargo - Brookings
(605) 692-6245
527 Main Ave
Brookings, SD
Type
Branch
Office Hours
Mon-Fri 07:45 AM-06:00 PM
Sat 09:00 AM-01:00 PM
Sun Closed

Richard Kahler
Kahler Financial Group
(605) 343-1400
1010 9th Street, Suite 1
Rapid City, SD
Expertises
Real Estate Investments, Ongoing Investment Management, Helping Clients Identify & Achieve Goals, High Net Worth Client Needs, Retirement Planning & Distribution Rules, Planning Issues for Business Owners
Certifications
NAPFA Registered Financial Advisor, CFP®, ChFc, MSFP

Mr. David G. Monkelien, CFP®
(605) 362-4175
305 W 57th St
Sioux Falls, SD
Firm
HMK Financial Services LTD
Areas of Specialization
General Financial Planning
Key Considerations
Average Net Worth: $250,001 - $500,000

Average Income: $50,001 - $100,000



Data Provided by:
Mr. Kevin John Engbers, CFP®
(605) 271-6023
6209 S Pinnacle Pl Ste 102
Sioux Falls, SD
Firm
Pinnacle Wealth Management Group
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Education Planning, Insurance Planning, Investment Planning, Life Planning, Wealth Management
Key Considerations
Average Net Worth: $500,001 - $1,000,000

Average Income: $100,001 - $250,000



Data Provided by:
Data Provided by:

S.E.P. IRA for Solo Business Owners

Q: I recently launched my own business and have been told to set up a S.E.P IRA account. Can you explain what this is and why it is recommended for independent business consultants?

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A SEP IRA is a retirement account for self-employed professionals and business owners. For 2008, you are eligible to contribute up to 25% of your adjusted gross income with a cap of $46,000. One of the great benefits of a SEP IRA is that the money goes in pre-tax, grows tax deferred and you are eligible to save much more than if you had a 401(k). It is important to note that the SEP IRA is just an account, you still have to pick investments (particularly mutual funds) for it. If you are just getting started, a Target Date Retirement Mutual Fund is a great place to start. Just pick one based on the year you would like to retire.


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