Advanta IRA Administration Holds Event to Educate the Self-Employed Work Force on Saving for Retirement: SEP IRA vs. the Individual 401(k)

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Saving for retirement today may seem impossible to individuals who work for themselves without the benefit of retirement accounts (and contribution matches) offered by employers. Advanta IRA Administration presents a lunch and learn on February 14th to educate the self-employed on the benefits of SEP IRAs and Individual 401(k) plans—designed specifically to help the self-employed build wealth towards retirement.

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Independent workers may find building wealth for retirement using a SEP IRA or Individual 401(k) is easier than they thought—and that in itself is empowering.

According to an article published by Bloomberg Businessweek in September of 2013, a lobbying group called It’s My Business recently estimated there are 10.3 million independent contractors working in the U.S. today. The article adds that Freelancers Union claims 42 million workers, or one-third of the U.S. workforce, are already freelancers. Regardless of what these individuals call themselves, what they have at least one thing in common: they are not considered employees of another individual, organization, or business—and therefore are not able to take advantage of the benefits often offered to those who are considered employees.

Independent workers have to provide themselves with health insurance and also retirement plans. Doing so can be considerably intimidating. “The price tag on individual health insurance certainly gives one pause. On top of that, in today’s economy saving for retirement may seem like a pipe dream to many independent workers,” says Jack Callahan, Managing Partner of Advanta IRA Administration. “Plans such as Simplified Employee Pension plans (SEP IRAs) and Individual 401(k) plans allow the self-employed certain contributions and other advantages that are not available for those who fall under the classification of ‘employee.’”

Many people do not realize that the self-employed may have more options and in some instances can contribute much more to their retirement accounts on an annual basis than those who get their paychecks from an employer. “Being self-employed often seems to implicate duress in saving for retirement. By learning about the different plans available, independent workers may find building wealth for retirement using a SEP IRA or Individual 401(k) is easier than they thought—and that knowledge in itself is empowering,” says Callahan.

Advanta IRA Administration is holding this event at their office on February 14th at no cost (and lunch is included) to attendees who want to learn about the differences between a SEP IRA and an Individual 401(k) and their relative advantages and disadvantages. Topics include:

  •     Eligibility
  •     Contribution limits
  •     Investment rules
  •     Potential investments
  •     From which plan you can borrow

Event: Lunch & Learn – What’s to Love About Being Self-Employed? The SEP IRA vs. the Individual 401(k)
Date: February 14, 2014
Time: 11:45 a.m. – 1:00 p.m.
Cost: No charge; lunch is provided
Location: Advanta IRA Administration, 3525 Piedmont Rd NE, Bldg. 8, Ste. 101, Atlanta, GA 30305
Register: by 5:00 p.m. on February 13th by contacting Teresa Chin at (678)513-8913 ext. 1147 or emailing tchin(at)AdvantaIRAGroup(dot)com

About Advanta IRA Administration

Advanta IRA Services, located in Largo, Florida, has been in operation for over 10 years, providing exceptional administrative service to owners of self-directed IRAs throughout the Tampa Bay and Sarasota, Florida regions. Advanta IRA Administration offers a second location serving Atlanta, Georgia and surrounding areas. Both offices are managed by Jack Callahan, J.D., CFP™. Advanta IRA offers classes, seminars and other educational tools designed to assist clients in managing self-directed IRAs by investing in real estate, notes, private placements and other non-traditional assets that have the potential to maximize IRA earnings on a tax-free or tax-deferred basis.

About Jack Callahan

Jack M. Callahan, J.D., CFP™, is the managing partner at Advanta IRA Services in Largo, FL and Advanta IRA Administration in Atlanta, GA. Jack established the corporate office, Advanta IRA Services, in 2003. Prior to that, Jack delivered specialized counsel to real estate investors, small business owners and real estate professionals on tax, legal and financial matters. As an industry expert, Jack is a frequent speaker on the topic of self-directed retirement plans and an accredited continuing education instructor for the Florida and Georgia Bar Associations, Florida and Georgia Real Estate Commissions, and The American Institute of Certified Public Accountants. He earned his bachelor of science degree in finance and multinational business from Florida State University and his law degree from the University of Florida College of Law.

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