Self-employed Retirement Plans Farmingdale NY

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.

Philip Capell
Piermont Wealth Management Inc.
(516) 496-7800
135 Crossways Park Drive, Suite 102
Woodbury, NY
Expertises
Ongoing Investment Management, Retirement Planning & Distribution Rules, Estate & Generational Planning Issues, Divorce Planning, Helping Clients Identify & Achieve Goals, Planning Issues for Business Owners
Certifications
NAPFA Registered Financial Advisor, CFP®, JD, MS

David Frisch
Frisch Financial Group, Inc.
(631) 271-7900
290 Broad Hollow Road, Suite 130E
Melville, NY
Expertises
Ongoing Investment Management, Estate & Generational Planning Issues, Tax Planning, Retirement Plan Investment Advice, Women's Financial Planning Issues
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA/PFS

Raymond Mignone
Ray Mignone & Co., Inc.
(516) 203-7194
626 Reckson (EAB)
Uniondale, NY
Expertises
Ongoing Investment Management, Estate & Generational Planning Issues, Retirement Planning & Distribution Rules, Retirement Plan Investment Advice, Helping Clients Identify & Achieve Goals, Planning Issues for Business Owners
Certifications
NAPFA Registered Financial Advisor, BS, CFP®

Gerard Barrasso
United Financial Planning Group, LLC
(631) 234-0871
888 Veterans Memorial Highway, Suite 530
Hauppauge, NY
Expertises
Tax Planning, Helping Clients Identify & Achieve Goals, Retirement Plan Investment Advice, Planning Issues for Business Owners, Middle Income Client Needs, Ongoing Investment Management
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA/PFS

Raymond Mignone
Ray Mignone & Co., Inc.
(718) 229-2514
252-81 Brattle Avenue
Little Neck, NY
Expertises
Ongoing Investment Management, Estate & Generational Planning Issues, Retirement Planning & Distribution Rules, Retirement Plan Investment Advice, Helping Clients Identify & Achieve Goals, Planning Issues for Business Owners
Certifications
NAPFA Registered Financial Advisor, BS, CFP®

Joyce Streithorst
Frisch Financial Group, Inc.
(631) 271-7900
290 Broad Hollow Road, Suite 130E
Melville, NY
Expertises
Ongoing Investment Management, Women's Financial Planning Issues, Retirement Planning & Distribution Rules, Retirement Plan Investment Advice, Divorce Planning, Planning Concerns for Corporate Executives
Certifications
NAPFA Registered Financial Advisor, CFP®, MSFS

Cary Carbonaro
Stonegate Wealth Management, LLC
(646) 388-1460
7 Platt Place
Huntington, NY
Expertises
Ongoing Investment Management, Planning Issues for Business Owners, Women's Financial Planning Issues, Retirement Planning & Distribution Rules, Charitable Giving - Trusts & Foundations, High Net Worth Client Needs
Certifications
NAPFA Registered Financial Advisor, BA, CFP®, MBA

Gerard Barrasso
United Financial Planning Group, LLC
(631) 234-0871
1979 Marcus Avenue
Lake Success, NY
Expertises
Tax Planning, Helping Clients Identify & Achieve Goals, Retirement Plan Investment Advice, Planning Issues for Business Owners, Middle Income Client Needs, Ongoing Investment Management
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA/PFS

Maureen Whelan
M. A. Whelan Financial Planning
(800) 775-8564
1225 Franklin Avenue
Garden City, NY
Expertises
Hourly Financial Planning Services, Middle Income Client Needs, Tax Planning, Financial Issues Between Generations, Investment Advice without Ongoing Management, Women's Financial Planning Issues
Certifications
NAPFA Registered Financial Advisor, CFP®, MBA

Ronald Roge
R.W. Roge & Company, Inc.
(631) 218-0077 Ext: 210
630 Johnson Avenue, Suite 103
Bohemia, NY
Expertises
Ongoing Investment Management, Helping Clients Identify & Achieve Goals, Estate & Generational Planning Issues, Tax Planning, High Net Worth Client Needs, Retirement Plan Investment Advice
Certifications
NAPFA Registered Financial Advisor, BS, CFP®, MS

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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