This week Jim and John are going to focus on many of the major decisions that most couples and individuals face during their lives, and how these decisions can significantly impact their financial well-being. Jim shares some lessons learned from over three decades of financial planning, and outlines mistakes which could become very costly later, no matter what your age. However, Jim emphasizes that mistakes clearly become more costly the older you get, as you have less time to recover from them. They also review a number of case studies to illustrate many of these common mistakes. The guest this week is Lowell Smith, president of Inspira, who will be discussing potential pitfalls in SEP IRA employer design & administration, as well as offering a comparison between SIMPLE and SEP IRAs for businesses looking to establish them for employee participants.
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