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#1
04-11-2007, 03:49 AM
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Starting a SEP IRA
I'm an internet poker pro doing ok, made almost $50k last year and am on pace for maybe $110k this year. I may or may not move up soon, and there's a small chance at a huge score in the WSOP too. Anyway.
My accountant gave me 3 options for my 2006 taxes. File as a hobby, business, or business with SEP contribution. After thinking about it for a while and speaking with some people more knowledgable than myself, I decided to file as a business and start a SEP. The problem is I am completely clueless as to what to put this money in. As I understand it I will be able to change what I have the money invested in without too much hassle, so anything decent for the time being would be great. After that I'd like to perhaps do some reading on my own that will allow me to pick a good mutual fund/index myself. Mutual Fund picks/reading material advice all greatly appreciated! 
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#2
04-11-2007, 05:57 AM
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Re: Starting a SEP IRA
http://www.fundadvice.com/fehtml/bhs...309/0309a.html
http://www.fundadvice.com/articles/b...-strategy.html Buy the book All About Asset Allocation by Rick Ferri if you want further info. Once you've read those, don't get too caught up in details. Any of the allocations in Ferri's book or on Fundadvice are going to be tough to beat.
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