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| The sep/ira has worked well for me. One thing to remember when you start putting money in a sep is that when you turn 59 1/2 you can take money out of a sep without paying a penalty. Prior to that you have to pay a 10% penalty for early withdrawal. Last year I took that into consideration when I bought ground. I probably could've made it work without an early withdrawal but the way things look it's nice to have that money in case grain prices tank even further. The ground was attached to two farms that I own and I knew I would only have one chance to buy it. I firmly believe a guy should have a retirement plan besides owning ground but I would hate to drive by it the rest of my life and not own it. | |
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SEP IRA/ Tax question
