Hello!
My husband and I have been imperfect mustacians for 3 years now. I own my own business so we push all profits through our individual 401ks and live off my husband's income.
I'm currently selling my business and need some advice on what to do with the proceeds. Especially since the last post on the up coming recession makes me nervous to put a huge lump sum in the market! But on the other hand, I know timing the market is stupid. Here's our parameters:
2016 taxable income, jointly filed: $20k
38k of the sale money is goodwill so its taxed as capital gains which at our income level is 0%
Will probably put $25k in a "high yield" savings account for 3 months while I figure out my next business venture.
How to invest the additional 25k? Push it through my business as a 401k? (I think that will make me pay payroll taxes on that money so that seems stupid). Roth IRA? Something I haven't thought of?
Thanks in advance! Excited to see what you smart people will come up with!