Dear Dave,
I’m employed, and I’ve maxed out my Roth IRA. I also have a small business on the side, so can I do a SEP as well?
Bill

Dear Bill,
Sure you can! If you want, you can do a SEP (Self Employed Pension plan) along with a Roth IRA and a 401(k). There’s no limitation to how many of these things you can have working for you.

The only limitations you’re looking at would be in terms of income. If your annual household income is more than $154,000, and you’re married, filing jointly, you’re going to run into issues with a Roth IRA. When it comes to a SEP, you have to provide it for any full-time employees who have been with you for three of the last five years at the same percentage of their income.

Good question, Bill!
Dave