by Dave Ramsey
Iím employed, and Iíve maxed out my Roth IRA. I also have a small business on the side, so can I do a SEP as well?
Sure you can! If you want, you can do a SEP (Self Employed Pension plan) along with a Roth IRA and a 401(k). Thereís no limitation to how many of these things you can have working for you.
The only limitations youíre looking at would be in terms of income. If your annual household income is more than $154,000, and youíre married, filing jointly, youíre going to run into issues with a†Roth IRA
. When it comes to a SEP, you have to provide it for any full-time employees who have been with you for three of the last five years at the same percentage of their income.
Good question, Bill!