Earlier this year I started reading about FI while closing out my second mortgage and student loans. Now the only debt i have is my main mortgage and I feel great about working so agressively on those 2 loans over the past 18 months.
Twelve weeks ago I started funding my SEP for 2015 (im cathcing up to current) and have now gotten accustomed to putting back $1000 a week into my retirement accout. Another $250 a week is put aside for general savings, as well as $400 a week for my tax payments. The balance of this year I plan to continue the trend every week to finally catch up to being current with my contributions.
As I plan for 2017, I would like to continue the same trend but can't figure out the game plan. If I maintain weekly contriubtions of $1000, I don't know where to put it all. A good problem to have, but looking for some guidance in structuring a game plan for 2017. I have added some details below to help.
I have my own company, make between $115,000 to $130,000 a year. I have a SEP IRA, a Roth IRA, and just opened an i401K but can't fund both (SEP and i401K) in same calendar year, so may convert SEP IRA to tIRA. That would allow $5500. The i401K can be funded 18K plus 20% of my salary. This will be $30,500 to contribute. With more to contribute to the i401K in lieu of the SEP, that may help get my MAGI below the cap so I could possibly fund my Roth IRA as well. That leaves about 10 weeks of contributions to go....??? Bonds? My brokerage account?
Thanks in advance!