Timothy Sumer

Thanks for watching this video on simple IRA advantages and disadvantages. Subscribe for more = ========== KEY POINTS: ========== 00:00 Simple IRA Advantages And Disadvantages 00:29 Flexibility 00:49 Simple 01:06 Tax Benefits 01:21 No Roth IRA Options 01:35 Lower Contributions 01:48 High Withdrawal Fees The simple IRA, stands for Savings Incentive Match PLan for Employees. It's for small business owners with less than 100 employees. It allows them to save for their own retirement. And help contribute to their employees retirement too. Employers will contribute either 3% match or 2% of your salary each month. Here are the main advantages of a simple IRA. #1 - Flexibility. Unlike a 401(k), the money you get is immediately yours. You don't have to wait years before you can claim it. Plus you have more investment options to choose from too. So it's more flexible than a 401(k). #2 - It's simple. As the name suggests, a simple IRA is easier and chea