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Simple IRAs

A SIMPLE (Savings Incentive Match Plan for Employees) IRA (Individual Retirement Account) is like a traditional IRA, but SIMPLE IRAs are designed for small business owners and those who are self-employed.

As with a traditional IRA, your contributions are tax deductible, and your investments grow tax deferred until you are ready to make withdrawals when you retire. However, a SIMPLE IRA is one of the easiest retirement accounts you can open for your small business because there are very few filing documents required.

One of the main differences between a traditional IRA and a SIMPLE IRA is the annual contribution limit. Another important distinction is that with a SIMPLE IRA, employers are obligated to match their employees’ contributions.

To learn more about switching your SIMPLE IRA to a Self-Directed IRA, call now!

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