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by: Dr. Scott Brown, Ph.D.
The SIMPLE retirement account is awesome if you own your own business. Any family business applies such as a home based or “brick and mortar” real estate rental and investment business, car-wash, gas station, restaurant, etcetera, can sponsor the SIMPLE IRA. Like the SEP-IRA, the SIMPLE IRA is company-sponsored. As a small business owner, for 2003 for instance you could have matched each employee's pay up to 3 percent or $8,000, whichever is less.
That adds up to a lot of money when it is a profitable business and family members are employees. SIMPLE IRA contributions are fully deductible when you put the money in the account but you will have to pay taxes on any profits you make on the stock when you retire. In addition to a SIMPLE IRA accounts, individuals and home based small businesses have an additional option to sock away money toward future retirement educational needs through educational IRAs.
Small businesses, which cannot afford to sponsor a 401(k) or 403(b), can also offer employees basic retirement plans established for the benefit of their employees. Sole proprietors also now also can open individual 401(k) plans. Examine the options and pick the one that maximizes your long-range savings goal. And don't wait. Take advantage of compound earnings and start socking away cash now for tomorrow.

About the author:
ABOUT THE AUTHOR: Dr. Scott Brown, Ph.D., a.k.a. “The Wallet Doctor”, is a successful futures trader, real estate investor, and stock investor. Dr. Brown holds a Ph.D. in finance from the University of South Carolina and a Master in International Management from the prestigious American Graduate School of International Business a.k.a. Thunderbird. His 1998 articles in Technical Analysis of Stocks and Commodities were prophetic in predicting an impending stock market crash. He has helped many people become profitable investors teaching them to look out over many years to spot stocks that are low and primed for rise in the new bull market. His second article met with approval by Dr. Bob Shiller of Yale University. Dr. Shiller is the economist that Alan Greenspan most highly regards who coined the term “Irrational Exuberance.” In 1998 he was shouting out to the world to “get out” of the stock market but now he is shouting to everyone that it is time to “get in!” The Wallet Doctor is not only sought after for investment advice and coaching in stock investing but also in futures trading and real estate investing. He also teaches investing in Spanish and Portuguese. For more information visit Dr. Brown’s site at www.BonanzaBase.comor sign up for his investment tips at

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