Looking for some free advice...
Currently my practice (7 partners) has a crummy 401k with poor investment options. The best investment options still cost me about 100bps.
I'm about to open an individual 401k through Vanguard and will be contributing 20% of my 1099 call and consulting income as "employer contribution" as well as the $18k employee contribution. Once this is set up, I'll be able to still contribute $35k/year through profit sharing into the crummy 401k.
I have the option of setting up the i401k as traditional or Roth. I'm in 39.6% tax bracket so I'm thinking that traditional makes more sense. Am I wrong?
Thanks!
Currently my practice (7 partners) has a crummy 401k with poor investment options. The best investment options still cost me about 100bps.
I'm about to open an individual 401k through Vanguard and will be contributing 20% of my 1099 call and consulting income as "employer contribution" as well as the $18k employee contribution. Once this is set up, I'll be able to still contribute $35k/year through profit sharing into the crummy 401k.
I have the option of setting up the i401k as traditional or Roth. I'm in 39.6% tax bracket so I'm thinking that traditional makes more sense. Am I wrong?
Thanks!
Comment