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. 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:
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:
Kevin Dale Klare, CFP®
(605) 323-6605
2307 West 57th Suite 200
SiouxFalls, SD
Firm
Northwestern Mutual
Areas of Specialization
Asset Allocation, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Education Planning, Employee and Employer Plan Benefits, Estate Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000



Data Provided by:
Mr. Douglas E. Amen, CFP®
(605) 335-7949
310 S Conklin Ave
Sioux Falls, SD
Firm
Douglas E. Amen, P.C.

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

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. Richard S. Kahler, CFP®
(605) 343-1400
1010 9th St Ste 1
Rapid City, SD
Firm
Kahler Financial Group
Areas of Specialization
Asset Allocation, Budget Development, Business Succession Planning, Comprehensive Financial Planning, Debt Management, General Financial Planning, Investment Management
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Self-Employed Business Owners

Data Provided by:
Mr. Fred Eric Ymker, CFP®
4310 S Technology Dr
Sioux Falls, SD
Firm
Legacy Wealth Group
Areas of Specialization
Wealth Management

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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