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Greetings, Sabre, and welcome. You asked:

<<I max out my SEP IRA every year..

Can I still contribute to my IRA?
Can I establish a ROTH IRA?
Can my wife (she is unemployed) establish/contribute to an IRA? >>

Yes, you may make a contribution to an IRA despite your SEP. That contribution may or may not be deductible based on your joint Adjusted Gross Income. If the AGI is more than $61K, it will not be deductible. If it's $51K or less, it will be fully deductible. Between those amounts, it's partially deductible. If not deductible, then almost assuredly a Roth IRA will be a better choice. You may use a Roth until your AGI reaches $160K.

Your wife may make a fully deductible IRA contribution based on your earnings until your joint AGI reaches $150K. Between $150K and $160K, deductibility phases out. At more than $160K, she may still use a nondeductible traditional IRA.

For full details on IRAs, see the IRA discussion in my Foolish Retirement Plan Primer at and in our IRA area at

<<I do not like the fact that annuitys are taxed at the ordinary income rate, but I believe establishing one is a good idea it? I am considering Vanguard...>>

That's a decision for you to make based on your goals and desires. For a Foolish take on annuities, see my post on this board at


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