SEP IRA Explained – Everything You Need To Know

I have my own business, and started learning about taxes.

The next step was to take my profits and try to find ways to invest and reduce my taxes.

SEP IRA is a consideration

* Note that the SEP IRA is an American investment model, it might be available in outside countries under other names.

The Rules

Pros

Cons

Extra Resources

Basics of Savings – The Arkad Way

We’re surrounded by people who spend plenty, but might be bank poor. Saving for the future is difficult because most people cant (and don’t want to) see far into the future, it’s not as tangible as next weeks bills, or the vacation in a few months.

Lucky for you, you’re working on getting out of the debt population, and into the saving class. Don’t get too caught up into worrying about retirement, this post on the basics of savings will help give you the simple guidelines to change your mindset, and set systems in place, so that you will stop worrying about short-term things (bills, repairs, etc..) and focus more on long-term growth.

Savings Step #1 – Look At Your Current Situation

Your financial situation is different than mine and most likely different than anyone else you know. It’s like a fingerprint, everyone has a different one. This is both scary and awesome.

It drives people to take no action at all, because they can’t copy someone else’s system, and they don’t want to think for themselves.

TL;DR

No matter what income, 10% is yours to keep

Recent Posts

Categories