A few comments:
- when you open a SEP IRA with Vanguard, they do not require a $3000 minimum. I think I opened my SEP with something like $600, because it was all I could contribute that tax year. I was worried about this limit and asked on the phone, but they didn't even flinch, it's not a problem.
- consider an individual 401(k) instead of a SEP, there's a thread on the forum somewhere about that. It's more complex but those who use it say the extra complexity isn't so bad. Unless you're pulling in more than ~$200k, you can set aside more pre-tax money with the solo 401k than you can with a SEP.
- keeping your money in lots of separate places is costing you in increased expenses. For instance, owning VFINX and VTSMX. If the balances of these two accounts together are more than $10k, you're missing out on owning Admiral shares with a greatly reduced expense ratio that is guaranteed to increase your returns by about 0.1% per year. If you can sell one of these funds to buy the other without incurring too many tax consequences, you should do it. Watch out for wash sales from reinvested dividends, making dividends no longer "qualified," and excessive capital gains. If you can't cost effectively sell, convert each fund to Admiral shares as soon as possible by contributing to both until they're at least $10k, then continue contributing only to the one you like more (in your case it sounds like VTSMX)
- Your Oppenheimer fund would be great to sell, but you'd be subject to capital gains taxes. At the very least, stop automatic dividend reinvestment. Next, see if there are "tax lots" of shares that can be sold for either minimal capital gain or a loss, such as reinvested dividends here and there. With the rest, hold them until you encounter a tax year with abnormally low income, such as if you take an extended vacation or your work dries up or something, and sell then.
