The Motley Fool Discussion Boards

Previous Page

Investing/Strategies / Retirement Investing

URL:  http://boards.fool.com/i-too-have-a-regular-job-and-have-done-moonlight-19203623.aspx

Subject:  Re: 401(k) and IRAs Date:  6/18/2003  10:51 AM
Author:  decath Number:  36571 of 76421

I too, have a regular job and have done moonlight contract programming on the side (1099 self employment) for the past 5 years when I can get it (nothing so far this year do to the IT/Telecom recession).

In the past 3 years, I maxed out my 401k from my regular job, contributed the max to 2 Roth IRA's (1 for me and 1 for my wife) and contributed the max allowed to a SEP-IRA.

The 2000 & 2001 SEP-IRA max was 13% of my adjusted gross self-employment income. Then in 2002, it went up to 25%.

decath
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us