I’m 64 and self-employed. I have a SEP but my income is low. Can I also open a SIMPLE and contribute to it?

I’m trying to reduce the amount of taxes and noticed that the SIMPLE IRA could benefit me if I could make a contribution to it. But, I established a SEP IRA last year on April 14th to help reduce the taxes. I have a qualified annuity 1099R I get every year because we need to draw on it to live on. For that, I pay “regular income” taxes. So, here are my questions: 1) Can I open a SIMPLE, put $10K in it to reduce my taxes; 2) close the SEP IRA if I have to (because the max I can put in that, this year, would be $3K); and then just pay regular income tax on the SEP IRA next year? (Remember, I’m 64, for I assume no penalties. Or, can I keep the SEP AND open a SIMPLE? Then, when I need it, I can “simply” (pun intended) use the money from the SIMPLE as a “qualified” investment, when I need that money without penalty? What am I missing? 

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