surf n turf
Dryer sheet wannabe
- Joined
- Jan 11, 2012
- Messages
- 15
The situation is that I just started a new job and am not eligible for the company 401k until Jan 2017. I started in Feb. and there is some rule that they don't admit new participants into the 401k until they have at least 6 months, but they don't add participants but every 6 months so my next opportunity is in Jan 2017. Also, my S.O. just started a new job and has the option for a SAR-SEP plan that she won't be eligible to participate in for 2 years.
Right now we have Roth IRAs and rollover TIRAs with Vanguard. We max out both our Roths and need to find a place to put a significant amount of money until we are eligible for our company plans. Should we just open up a non-qualifying account with Vanguard and start pouring money in there? Currently we have zero debt and paid off mortgage so we don't have any debt to pay off. We're going to have approximately $1200/mo to invest and we are looking for the best tax efficient mutual funds to invest in with good growth potential. We're looking for any advice anyone has on this subject. The money invested will be long term so I'm assuming I will not have to pay regular income tax on this investment. Timeline is 10-15 years before we draw. We're likely to stay with Vanguard. In retirement I'll have two small pensions and social security in addition to the Roths, TIRAs, and 401k. Is taxable account the obvious choice?
Right now we have Roth IRAs and rollover TIRAs with Vanguard. We max out both our Roths and need to find a place to put a significant amount of money until we are eligible for our company plans. Should we just open up a non-qualifying account with Vanguard and start pouring money in there? Currently we have zero debt and paid off mortgage so we don't have any debt to pay off. We're going to have approximately $1200/mo to invest and we are looking for the best tax efficient mutual funds to invest in with good growth potential. We're looking for any advice anyone has on this subject. The money invested will be long term so I'm assuming I will not have to pay regular income tax on this investment. Timeline is 10-15 years before we draw. We're likely to stay with Vanguard. In retirement I'll have two small pensions and social security in addition to the Roths, TIRAs, and 401k. Is taxable account the obvious choice?