SEP IRA

Being your own boss can be rewarding. But it's hard work. It would be nice to know that there's light at the end of the tunnel. With a Simplified Employee Pension (SEP), you can easily set aside retirement money for yourself and any employees without creating a complex benefits plan. This way, when the time comes to stop working, you'll finally be able to relax.

• Ideal for self-employed individuals, sole proprietors or small business owners
• Contributions can be made anytime with a variable CD
• Low opening balance of $50 for a SEP IRA Primary Savings
• No monthly or annual fees
• Contribute either 25 percent of your income or $58,000, whichever is less
• Must make the same contributions for any employees
• Earn guaranteed returns on your savings
• Potential tax deductions in years you make contributions. Funds also grow tax-free until you're ready to withdraw them.
• Withdrawal requirements are the same as Traditional IRAs