Author Topic: Max out tax advantaged accounts before Lending Club?  (Read 1058 times)

Hayden Frys Mustache

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Max out tax advantaged accounts before Lending Club?
« on: January 19, 2015, 03:59:37 PM »
I have a SEP-IRA which the boss contributed about $7,000 to this year.

Question 1 - does this level of SEP contribution wipe out my ability to contribute to a traditional IRA?

Question 2: I have about $3k to invest currently - is there a case to be made for using a taxable Lending Club account instead of maxing out my Roth, then going to the taxable account?

Dodge

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Re: Max out tax advantaged accounts before Lending Club?
« Reply #1 on: January 19, 2015, 07:29:30 PM »
I have a SEP-IRA which the boss contributed about $7,000 to this year.

Question 1 - does this level of SEP contribution wipe out my ability to contribute to a traditional IRA?

Question 2: I have about $3k to invest currently - is there a case to be made for using a taxable Lending Club account instead of maxing out my Roth, then going to the taxable account?

If your IRA is maxed, then you can't contribute to a Roth either.  I'd look into that first.  Also, I'd recommend typical stock/bond investing over Lending Club personally.

GGNoob

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Re: Max out tax advantaged accounts before Lending Club?
« Reply #2 on: January 19, 2015, 08:02:31 PM »
For a taxable account, you'll want something a lot more tax efficient than Lending Club.


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