I have a question about a potential move from my SEP to tIRA and hope you guys can provide some sound feedback.
All my accounts are with Vanguard. I have an SEP IRA, Roth, and just opened an i401K. my SEP is fully funded for 2015 and upon opening the i401K, i intend to fully fund it for 2016 throughout the balance of the year. The amount in the SEP is just below the $50K minimum to conver the account to admiral shares. If my understanding is correct, I cannot continue to fund my SEP for 2016 AND begin to fund my i401K for the same year. Vanguard suggested converting my SEP to an tIRA before the end of the year which would allow me to fund both the tIRA and the i401K for 2016. This would allow the tIRA to get above the $50K minimum for admiral shares (savings on expense ratio).
I'm still relatively new to all the different types of accounts and how/when they can be funded, so I am interested to hear your feedback on if I am thinking about this correctly.
Thanks in advance