For the SEP, the company still has to create it. For the SE 401, she'd have to

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Sep 30, 2014
2:51:37pm

RyneK

For the SEP, the company still has to create it. For the SE 401, she'd have to

be 1099, so she can deduct it from her own pay, no?

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RyneK

Bio page: RyneK
Joined: Dec 10, 2004
Last login: May 5, 2024
Total posts: 33,909 (13,948 FO)

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Messages

Author

Time

401k options for unemployed or employed without 401k plan?

Indy Coug

9/30/14 2:49pm

1 -- SEP IRA, IRA, or SE 401k. 2 -- IRA

mulletino

9/30/14 2:50pm

For the SEP, the company still has to create it. For the SE 401, she'd have to

RyneK

9/30/14 2:51pm

Yeah, just threw out all options based on the little info provided.

mulletino

9/30/14 2:54pm

IRA, no?

prcoug

9/30/14 2:50pm

like an IRA?

9/30/14 2:50pm

Traditional IRA in both cases

RyneK

9/30/14 2:50pm

Let's take the absurd scenario where she has $50K to invest

Indy Coug

9/30/14 2:52pm

No, the IRA contribution limits are $5,500/year

SFCougar

9/30/14 2:54pm

So what are her options at that point?

Indy Coug

9/30/14 2:54pm

Invest the funds in a non-qualified account.

SFCougar

9/30/14 2:56pm

This is true. Lots of smart $ people on CB

Bronco Mendenhill

9/30/14 2:57pm

Not immediately. If she's under the age of 50

RyneK

9/30/14 2:55pm

This is correct. Key is earned income.

Bronco Mendenhill

9/30/14 2:53pm

Under both scenarios an IRA/Roth IRA is an option

SFCougar

9/30/14 2:52pm

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