Independent contractors have the ability to start their own SEP-IRA retirement plans, as the traditional 401(k) is only available to salaried employees. However, learning how these plans work along with the associated investments available can be overwhelming for the busy professional. To help with this, ConsultDirect has partnered with First National Corporation, a Registered Investment Advisor, to provide an avenue for easily opening your retirement plan. 

Using our Generational Portfolio Service, investors are able to use an easy paperless enrollment process and have access to online account management that utilizes low-cost ETF investments. Click the Get Started button and use code TJN7 to open your SEP-IRA. For more information or to ask questions about the plan, please email [email protected]

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Rules for the SEP-IRA

Contribution Limit

Employers may contribute up to $55,000 or 20% of net income, whichever is lower.

*If you would like to contribute more than 20% of net income, a solo 401(k) may be best for you. Please contact [email protected] for more information.

Contribution Deadline

Contributions must be deposited by the employer's due date for federal income tax return for the year, such as April 15, 2019 for the year 2018. 

Taxes

Employers are able to deduct contributions on their taxes, deferring income tax until a time when they are in a lower bracket.

Distributions

Withdrawals from the plan are taxed as ordinary income to the owner of the account. Distributions also incur a 10% early withdrawal penalty if they are made before the account owner turns age 59 1/2. 

Consolidate Your Retirement Plans

Most independent contractors have a retirement account from a former employer that they aren't actively managing- or may have forgotten altogether. These old plans may also have high fees associated with them.

You are able to transfer your retirement savings from those employers into your new SEP-IRA or solo 401(k), likely lowering your investment expenses and getting all of your assets moving in the same direction. This is called a rollover.

First National Corporation wants you to know that the rollover process can be easy and we are here to help. Please contact [email protected] to discuss whether this is appropriate for you. 

Generational Portfolio Service (GPS)

Robust Portfolios - Designed for You

We’ve created a diverse set of 12 portfolios, carefully selected from a universe of over 450 low-cost Exchange Traded Funds from Vanguard, iShares, Schwab, and several other top fund providers.  The portfolios provide investment exposure in up to 20 asset classes across stocks, bonds, real estate, and commodities, as well as an FDIC-insured cash component, so they are truly well diversified.  

We monitor the investment and portfolio performance on an ongoing basis to make sure the ETFs continue to provide consistency and diversity.  We can modify the portfolio allocations as needed to meet changing economic and market conditions — again, so you don’t have to.

Automated Portfolio Rebalancing

Rebalancing is critical to successful investing. With any portfolio, natural market fluctuations increase and decrease the value of some of your holdings causing your asset allocation to stray from its target. When that happens, we rebalance by selling overweight asset classes and buying those that are underweight.  

Our Generational Portfolio Service monitors your portfolio with daily check-ins and automatically rebalances across all asset classes, working to keep your investments consistent with your selected risk profile, which may help with investment growth and reduced volatility over time. 

Fees Matter

Over time fees and expenses can make a big dent in your bottom line. With just a small annual advisory fee, which we deduct directly from your account in quarterly increments, our Generational Portfolio Service has no commissions, no transaction charges, no annual IRA fees, and no account service fees — leaving you with more of your money to invest.


This Generational Portfolio Service offers ground-breaking value to our clients and is supported by the strength of Charles Schwab & Co., Inc., one of the industry’s leading RIA custodians with over 25 years of providing service, safety, and security to clients like you.

Get started investing today using our straightforward online enrollment process with the code TJN7.

Please contact Alex at 781-878-7757 if you have any questions or would like to learn more about the enrollment process.

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