Hi Mustachians,
I work as a carpenter full time, and am aiming to max out both my 401k and Roth IRA this year through that income. I also have side hustle income, which is from delivering food on my bike. (Yes, my income comes from carpentry and riding my bike.) I'm guessing my side hustle income will be around 10k, and I'd like to invest all of that.
Can any seasoned veterans give me some guidance on my options for investing the side hustle income? There's obviously my taxable account, as well as a solo 401k and sep IRA. The latter two are confusing to me so any clarification there would be much appreciated.
Also, I am wondering if at a certain point it is actually preferable to invest in a taxable account over a tax sheltered one, as you need a substantial chunk that you can live off for 5 years while you wait for your Roth IRA conversion ladder money to "season".
Thanks!
