Listener Retirement Planning Question: To SEP Or Not To SEP. Your Financial Advisor Might Not Be Your Friend...

Today I got an email from a guy with the initials A.J.Here's the exact text:Quick question. I am self-employed and started my own business after being in a partnership for six years. Seven months of 2021 I got to 302,000 so I decided that it is time to talk to Financial Advisor. I want to contribute to a sep IRA but he is saying that instead he recommends a individual joint account with my wife which would also be invested the same SSS in American funds active core. Both will get the same amount of return the difference is tax deferred versus not and one I can pull money out at any time versus the other not to 59 1/2 what are your recommendations do you think the sep is still the right way to go? Main goal is retirementMan, I wish my business would've pulled in $300K in seven months.Remember, go to www.rogueretirementlounge.com/crypto to sign up for your own Blockfi account. You'll get up to a $250 crypto bonus and you'll be on the best exchange out there. AND you'll be able to earn interest on your crypto. And, you'll be supporting this show, as I'm a Blockfi affiliate!If you have a question you’d like me to answer on the podcast, email me at [email protected] out more episodes at my retirement planning podcast website: https://www.rogueretirementlounge.com/Follow me on twitter! https://twitter.com/LoungeRogueFollow me on Instagram! https://www.instagram.com/lairdgrainger/