SIMPLE IRA
7
MENTIONS
5
EPISODES
5
PODCASTS
Search complete. 7 mentions across 5 episodes found for "SIMPLE IRA".
Sep 15, 2026
Jason AckermanGUEST
The idea is simple.
Jason AckermanGUEST
The key product is Simple IRAs.
Jason AckermanGUEST
So if you don't know, Simple IRA is like a 401k, but 100 or less employees.
Jason AckermanGUEST
There was like no platform out there.
Jackie MeyerHOST
So for target fit, a no-go or not now would be someone that really needs a deduction today, maybe for cash flow, and the Roth contribution would squeeze in real tight.
Jackie MeyerHOST
Uh, number two could be you're trying to do a backdoor Roth, but you have significant traditional SEP or Simple IRA balances and no plan to address the pro rata impact.
Jackie MeyerHOST
We were talking about that kind of before recording, right, Jason?
Jason AckermanGUEST
Yeah, and that's what we were talking about.
19 MINS LATER
Jackie MeyerHOST
Okay.
Jackie MeyerHOST
Three takeaways for advisors.
Jackie MeyerHOST
One, ask about existing traditional SEP and simple IRA balances early.
Jackie MeyerHOST
Two, train your team on how form 8606 ties into 1099-R reporting.
Josh LewisHOST
With a Roth, you can get your contributions without much downside to it, but you cannot do a loan.
Josh LewisHOST
And for the most part, very few of our, our listeners here are self-employed and have a self-employed person IRA or a simple IRA, but for the most part, they follow the same rules.
Jeb SmithHOST
[lips smack] All right.
Jeb SmithHOST
Now, let's, let's, uh, let's tie it all up, put a bow on it, Josh.
Dave RamseyHOST
Yeah, he can set up a SIMPLE or a SEP.
Dave RamseyHOST
Probably a SIMPLE would be better, a SIMPLE IRA, which is a very expensive 40- or inexpensive 401[k] for a small-time employer.
Dave RamseyHOST
Um, the only, it has almost no administrative fees to run it.
Dave RamseyHOST
A big-time 401[k], when you got a bunch of team members, is expensive to run, uh, from the employer's perspective, but this is very inexpensive.
Rachel CruzeHOST
Mm-hmm.
Dave RamseyHOST
It's called a SIMPLE IRA.
Dave RamseyHOST
So ask them about that for your new account, and roll over the old 401[k] just into, as Rachel said, a traditional IRA.
Dave RamseyHOST
Lindsay's in Boise, Idaho.
Kaylee BentingHOST
Let's move on and see who else we have.
Kaylee BentingHOST
All right, here we have Simple IRA.
Kaylee BentingHOST
Great to meet you.
Kaylee BentingHOST
Tell us a little about yourself.