May 8

My boss asked me to bring a completed IRA application to my annual review. He will be contributing to it, and used the term SEP. Knowing nothing about IRAs, I went online and did some research. Now, I am really confused. It looks like traditional IRA funds can be used in CDs, Mutual Funds, or annuities. Which one is best? Since it is a retirement account, I want the money to stay there until retirement. What are the pros and cons? And are they all eligible for him to contribute to?

2 comments so far...

  • shiprepairwoman Said on May 8th, 2010 at 10:22 pm:

    A SEP is a employer paid IRA, you are very fortunate to have him fund one for you. You should have a choice of investments.

  • src50 Said on May 8th, 2010 at 10:26 pm:

    Google “SEP IRA.”

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