Does anyone have a SIMPLE IRA for small businesses (<100 employees)? If so, who did you use to set one up through?
We've talked to one lady but she only offers loaded funds (of course that's how she makes her money). I've also looked into Fidelity and think that may be a more economical option, but will probably lack in customer service (I'd like to meet in person with someone to explain everything to me).
I have a SIMPLE through my old employer through Ameriprise Financial (American Express people). Not sure of how it works from the employer end, but as an employee it was great. I still use the Ameriprise Financial Advisor for my Roth since I don't work for the company I had my SIMPLE through anymore.
dnagirl - are you self-employed? I have a Solo 401(k) through Vanguard. They also offer SIMPLE IRA's. I've been very pleased with them, and their costs are rock-bottom.
My husband owns his own business/corporation and he is an employee of the corporation. We use Vanguard a lot for our personal investments, so I should definitely contact them too regarding the Simple IRA.
Yep, definitely. Also, check into Solo 401(k) aka Individual 401(k). If your husband does not have any employees (fidelity allows additional employees; Vanguard does not), he may be able to defer more thru that than the SIMPLE.
Vanguard is out if he wants to use the Solo 401k, yep. If that's the case, your best bet is Fidelity. Fidelity's Spartan funds are very low cost. Try this calculator to find out which plan allows you to defer more, and also gives descriptions of the different plans (there may be other reasons why he would want to use one plan over the other):
Simple ira
