No. of Recommendations: 1
Do you have a Roth IRA? Why are you focused on a private (retail) account? Are you looking to day trade, or invest for your future? It is not necessary to transfer 401k money into an IRA to establish a SEP IRA. DW can do that with the profits from her business. I am also not sure it is possible to transfer your 401k money into her IRA of any kind. Now, she can take cash from her business and put it into your IRA, but it won't be her retirement savings anymore.

What do you mean $5500 catch-up money? Are you over 50 and talking about the $6000 IRA contribution you are allowed to make each year? Can DW also make a catch-up IRA contribution to her own IRA? With an eFund, 401k, 529 and HS education taken care of, it sounds like you are in good shape strategically, but if you could address the questions raised, perhaps I could offer you some more focused advice.

Have you thought about in what you would be investing or trading? I am not a big fan of thinking of it as trading - I invest in companies using a buy-and-hold strategy. Others are more comfortable buying and selling daily, weekly or monthly but that's not my style. Are you mostly invested in mutual funds and are now looking into equities? What is the reason you are looking to open a private account and begin trading or investing?

Who would like to see you not carry $5000 in credit card debt, unless you pay it off in full every month, and to set additional savings goals if you are just looking to put some extra cash to work...
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