A fuller guide to this term is on the way. In the meantime, the related terms below explain the ideas around it.
Related Brickyard terms
- Traditional IRAA retirement account where you often deduct contributions now and pay taxes later when you withdraw the money.
- SIMPLE IRAA retirement plan for small businesses that lets both employees and the employer contribute with less paperwork than a 401k.
- Solo 401(k)A 401(k) plan built for self-employed individuals with no employees, letting you contribute as both worker and employer.
- Contribution LimitThe maximum amount the government lets you put into a retirement account in a single year.
- Self-Employment TaxThe Social Security and Medicare tax that self-employed people pay to cover both the employee and employer shares.
- Roth IRAA retirement account funded with after-tax money that grows and comes out tax-free.
Turn this into a brick
Knowing what SEP-IRA means is knowledge — the first half. A brick gets placed when you act on it.
More in Retirement
Plain-English education — not personalized legal, tax, or investment advice.