Ok I'm a bit confused and will try and make this as clear as possible.
First off my question...
1.Where to invest next and
2. Is there a better way to handle my existing ira and old 401k to better take advantage of limiting taxes.
Given:
Age 46, single / head of household
Salary 150k
Investments:
Old 401k $110,000
Old 401k rolled over into IRA $160,000 (nothing added to this since rollover)
Current 401k $450,000 (company puts in 13% of salary. 5% match. + 8% no $$ match required)
I have access to good low expense funds in all three accounts mentioned above.
I put in max per year into 401k $18000
40k in liquid cash - emergency fund.
Plan to be in a much lower tax bracket once retired.
Not looking at retirement just yet... love my job!! Looking for age 55-60 retirement.
2018 will be adding an HSA.
Here is were I get confused. I can't put additional monies into a Roth IRA because I make too much. I can't back door a Roth IRA because I have an existing IRA from an 401k rollover. I can contribute to an IRA but again because I make too much I can't deduct any of that money. So, in that case what is the advantage of a regular IRA when it's all after tax money and you have IRA withdrawal restrictions. Why not just invest further money into a taxable investment account.
I want to invest an additional 10k a year for the next couple of years and then 10k+ extra till 55/retirement.
Here are my questions again....
1.Where to invest next and
2. Is there a better way to handle my existing ira and old 401k to better take advantage of limiting taxes.
Thanks
