An Individual Retirement Account (IRA) allows you to save and invest money for retirement in a tax advantage way.
Beevav provides four types of IRA accounts:
Ex: Jenny’s income was $100,000 and invested $6000 in her Traditional IRA when she was 22 years (She paid taxes on her $94,000 income that year), her investment became $158,000 when she was 60 years old. She will pay taxes on $158,000 when she will withdraw the money.
Ex: Jenny invested $6000 in her Roth IRA when she was 22 years, her investment become $158,000 when she is 60 years old, She won’t pay taxes on the gain ($152,000)
A Savings Incentive Match Plan for Employees (SIMPLE) IRA is a type of traditional IRA which allows employees and employers both to contribute to a traditional IRA account set up for employees
Employer sponsor SEP or SIMPLE IRA account, we charge monthly fees $5/employee/month
You can potentially get up to $15,000 of tax incentive over the first 3 years and then tax deduction on the cost of retirement benefits and on the money you contributed to your employees’ account.
For Traditional & Roth IRA, we charge 0.15% AUM (Asset under management) fee per year.
Ex: If your Roth IRA has $10,000 invested, we will charge $15 per year. We will deduct that fee ($15/12 = $1.25) directly from your account at the end of the month.
For employer sponsor SEP or SIMPLE IRA account, we charge monthly fees directly to employer. You only pay 0.15% AUM fee per year. Even when you left your job with sponsor employer, you can keep your SEP or SIMPLE IRA account with Beevav, we don’t charge you monthly fees.
For Self-employed/Freelancer/Gig worker SEP IRA account, We charge you $5 monthly fee + 0.15% AUM fee per year
If you are a person, who has some experience investing in the security market and has developed some self-discipline in personal finance then you shouldn’t buy Beevav services. Our AUM fee (0.15% per year) is a waste of your hard earn money. Talk to your financial planner or just shoot us an email at email@example.com