I was thinking about my current situation, and here it is:
29 years old
Self-employed
No wife (not yet), no kids
Own a triplex (owner-occupied)
My "portfolio" looks like this:
55% US Stocks
35% International Stocks
10% Bonds
and another way of looking at it is:
100% deferred (Roth, solo 401k, rollover IRA)
In other words, I don't own any mutual funds in a taxable account.
I only have a small amount of liquidity in the form of MMs. In addition, I have some I-bonds.
The problem is, the solo 401k allows me to contribute $15,000 + 20% of my income up to $44,000. Last year it was $38,000. This year it will be around the same amount.
I am cash poor, but home equity and nest egg rich, relatively speaking.
I am thinking I need to maybe take it easy on the 401k for a year or two. Maybe just do $15,000. But I like the deduction from the "now" and the contribution to my
retirement (in addition to paying less taxes).
Thoughts?
29 years old
Self-employed
No wife (not yet), no kids
Own a triplex (owner-occupied)
My "portfolio" looks like this:
55% US Stocks
35% International Stocks
10% Bonds
and another way of looking at it is:
100% deferred (Roth, solo 401k, rollover IRA)
In other words, I don't own any mutual funds in a taxable account.
I only have a small amount of liquidity in the form of MMs. In addition, I have some I-bonds.
The problem is, the solo 401k allows me to contribute $15,000 + 20% of my income up to $44,000. Last year it was $38,000. This year it will be around the same amount.
I am cash poor, but home equity and nest egg rich, relatively speaking.
I am thinking I need to maybe take it easy on the 401k for a year or two. Maybe just do $15,000. But I like the deduction from the "now" and the contribution to my
retirement (in addition to paying less taxes).
Thoughts?