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  • Avatar 2DI 
    Participant
    Status: Physician
    Posts: 3
    Joined: 11/10/2017

    Hi,

    Im a novice at best when it comes to my finances. But Im willing to learn. Im an ER physician wondering if there are any other options available for me to contribute.

    I have 2 jobs which are both W2 income so 19K total 401k from those. I do not have any 1099 income and i do not have any time for another job.

    I have maximized our backdoor roth and HSA.

    Are there any other options for me to contribute money?

    My wife has a 1099 income and we maximized her 56K already. Not sure if there is anything else we can do.

    Thanks to anyone that responds.

    #214215 Reply
    jfoxcpacfp jfoxcpacfp 
    Moderator
    Status: Financial Advisor, Accountant, Small Business Owner
    Posts: 7326
    Joined: 01/09/2016

    Next is a taxable account: 11 Reasons You Need a Taxable Investment Account

    This assumes you have appropriate term life and disability insurance, an emergency fund (if necessary), 529s (if applicable), and an appropriate plan for paying off debt.

    Johanna Fox Turner, CPA, CFP, Fox Wealth Mgmt & Fox CPAs ~ 270-247-0555
    https://fox-cpas.com/for-doctors-only/

    #214224 Reply
    Avatar JBME 
    Participant
    Status: Spouse
    Posts: 417
    Joined: 03/26/2018

    do you have a 457 plan available from either W2 employer? otherwise, taxable account for you

    #214225 Reply
    Liked by JBME, 2DI, Lordosis
    Avatar Peds 
    Participant
    Status: Physician
    Posts: 3614
    Joined: 01/08/2016

    Taxable.

    #214294 Reply
    Liked by 2DI

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