A little help here...

KennyBSAT

KennyBSAT

Moderator
Staff member
So I don't really care about money. In fact I dislike the stuff. But it comes in handy occasionally, and 2014 was good to us. We need to set up a SEP IRA for Bonnie due to the success of her relatively new income and business, and we have two choices: go to our credit union's affiliated investment company and take whatever they feed us, or learn a few things and come up with a much better account. If someone can point me to a circles-and-arrows DIY retirement accounts 101 or offer any advise, I'd appreciate it. Otherwise I'll head back over to the award booking threads - they're a lot more fun!
 
Hutch

Hutch

Level 2 Member
Since you don't sound experienced in financial planning I'd suggest taking a look at going to a house with personal planners/advisers. Think edward jones, schwabs, or fidelity. Else hire a independent adviser at $100+/hr who has no stake or commission in what you buy.
But please whatever you do never, I mean never, even entertain the thought of buying annuities or any other structured "insurance" policy. They are all shit and are geared to make them money.
 
Matt

Matt

Administrator
Staff member
Hey @KennyBSAT you can set up a SEP at Fidelity with ease, I've done this in the past. Their retirement team is actually quite helpful and knows their stuff.

In terms of what you need to invest in, that is a discussion that needs to balance risk with goals. Broadly speaking, you should be looking at ETFs. You'll be able to start up an account, fund it, and allocate your money fee free. There will be a marginal ETF maintenance fee to look at.

You can call me to discuss further.
 
KennyBSAT

KennyBSAT

Moderator
Staff member
Thanks guys! I think we are on the right track now, of course I'm happy for additional suggestions.
 
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