I have a home based eBay business, how do I set up a retirement plan for my fluctuating income?

Asked by Debbie

3 Answers

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Answered by Michael Gilbert, Financial Adviser in San Diego, CA
You can setup just about any type of plan and fund them when you have the money to. For example you can setup an Individual 401(k) and fund it at any point during the year as long as it is before Dec 31st. IRA's can be funded before you file your taxes for the year or April 15th whichever comes first. To pick the right plan is an entirely different item and you should sit down with a professional to figure out what is best for you and your business. | 12.15.15 @ 19:01
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$commenter.renderDisplayableName() — {comment} | 12.04.16 @ 18:47
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Answered by rohloff
First, if you're under 59 1/2, be sure to invest enough capital outside of retirement to provide for any unexpected cash needs. Then, call a Certified Financial Planner (CFP) to set up a SEP IRA (if you don't have employees...) to give you the maximum allowable deduction and flexibility. | 12.15.15 @ 20:24
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$commenter.renderDisplayableName() — {comment} | 12.04.16 @ 18:47
Answered by Dave Bradley, Investment Manager (Financial Advisor) in North Charleston, SC
Hi Debbie,

As an Investment Manager (IM), I love the self-directed retirement plans. There are many variations and most brokerages can set them up for you at no cost. Keep in mind managing your own or anyone else's retirement plan is similar to being a successful business owner. You need to understand what you are doing and have a vested interest in being successful.

Always do what is in your best interest. Feel free to contact us directly to discuss your situation in greater detail. No obligation

It's not what you make, It's what you keep that determines your lifestyle | 05.01.16 @ 18:51
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$commenter.renderDisplayableName() — {comment} | 12.04.16 @ 18:47
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