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UHY is looking to hire across all positions both audit and tax for our office in Melville, Long Island. We the largest book of business in UHY and have grown significantly over the past few years. There is tremendous opportunity for growth and the office is more than just a job. We regularly have golf outings, wine tastings, bbqs at the partners houses and many other events with our team. Anyone who is interested send me a message and I will set up a time to connect and discuss our opportunities UHY Advisors
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Generally if you think you will be in a lower tax bracket when you withdraw the money than you are now, traditional IRA would be better. The difference between IRA and 401k is that IRA has an income limit above which you get no deduction for traditional IRA. At that point traditional IRA is worthless. Also there is an income limit above which you can’t make a direct contribution to Roth IRA and need to use backdoor Roth IRA. The problem is if you have a traditional IRA balance, you would pay taxes doing backdoor Roth IRA. My suggestion is to just do Roth IRA. The other alternative, if you use traditional now is to roll your traditional IRA into your 401k is you get to the point of needy to use backdoor Roth IRA
Yeah use the Roth IRA before regular brokerage because you can pull out principal without penalty, and you can use principal + $10k gains to make your first home purchase as well
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If you are maxing your 401k, you will get no tax deduction for a traditional IRA so you are better off going Roth since it’s post tax dollars anyway. If you are above the income limit you can use a backdoor Roth since it sounds like you don’t already have a traditional IRA balance.
I would highly consider opening a HSA if you are contributing to a HDHP. Triple tax benefits. It’s the best vehicle out there.
You could also do Bonds (9% rate and can contribute up to 10k per year)
I would recommend saving outside of just retirement, so that way if you get to your retirement savings goal early enough, you have the ability to bridge the gap between whenever you retire from work, and whenever you can actually tap your retirement assets