Hi everyone you're listening to the Money Girl Podcast.

I'm Laura Adams the author of Moneygirls Smart Moves to Grow Rich.

Nadeen S. sent in a question about SEP retirement plans.

She says, I work a full-time job for a corporation where I contribute to a 401k

with a company match. I also have a Roth IRA that I personally contribute to.

In addition, I opened a business, a dance in performing arts school, where I am the sole employee.

I'd like to learn more about contributing to a SEP and any limitations to having one if I also contribute to a 401k and a Roth IRA.

If you're self-employed or own a small business with employees, you might be like Nadine, who's looking for a way to

sock away even more money for retirement.

If you want a great way to invest more of your income and get a nice tax break at the same time one option is a SEP or

simplified employee pension. In this podcast I'll tell you what you need to know

about who can have a SEP, how to set one up, and the limitations that exist if you

also contribute to other kinds of retirement accounts.

A SEP is known as a SEP IRA, and it's a retirement plan that allows an employer or someone who's self-employed

to set aside money for themselves and for their employees.

The IRA part comes in because contributions are made on a pre-tax basis to a traditional IRA.

You probably know that stands for individual retirement arrangement.

A SEP IRA is available to any size business,

whether you're a sole proprietor, a partnership,

or a big corporation.

And it's very simple and inexpensive to set up and maintain.

You can use a SEP IRA to create a healthy retirement nest egg, whether you're a

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