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What long-term, general, investing strategies should I consider if my company doesn't offer a 401(k)?

I'm 27 years old, and I have a 2.5 year emergency fund and I am making good money with raises each year. My company doesn't have a 401(k), so I've been maxing out a Roth IRA on my own into a mutual fund for the past five years. I own a two family rental property that I've completely renovated and paid off and it is now profitable every month. I'm looking for another outlet in which to invest $15,000-$20,000 a year. I don't like real estate renting. Instead of buying another property, should I open a self 401(k) and max that out? What long-term, general, investing strategies should I consider based on my situation?

Estate Planning, Investing, 401(k), IRAs, Mutual Funds, Real Estate, Retirement Plans
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January 2019

Solo 401(k) plans are only available to business owners with a spouse and single business owners with no employees plans – like private practice doctors, CPAs and small family businesses. You mentioned you work for a company, so this definition might not match your employment situation. If so, you’re unfortunately ineligible for the solo 401(k) plan.

Separate from the Roth IRA, you may consider investing a portion of the sheltered funds into a traditional IRA - this will be dependant on your current and projected future tax brackets. A CPA can help determine what the right mix is between Roth & traditional IRAs. After maxing out the IRA side of the savings, you should consider saving in a brokerage account. Depending on your appetite for risk and for growth, you have several options available. If you’re interested in significant growth on your money, it might make sense for you to start investing your savings with a robo-advisor so you can develop a structured plan for investing, that way you can sit back and stay on track for your long-term investment goals.  

March 2018
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January 2019
January 2019