I recently landed my first job out of college that is starting soon. Six figures, so the income isn't an issue. I would like to contribute the recommended 15% to a retirement fund, but the IRA limit is $6000. My employer does not offer a 401(k), only an SEP-IRA that I'm not eligible for yet (minimum one year). The SEP-IRA could amount to 15% in the future, but that's not guaranteed by its nature.
How can I contribute 15% currently? Given the IRA limits I can't even do a third of that.
Edit: Given my salary I won't be able to deduct the contribution to a retirement account next year (this year I can because it's effectively prorated)
Edit 2: Signing off for now. Thanks for the info everyone!
Submitted September 04, 2021 at 11:55PM by EastSignal https://ift.tt/3ter9Cs
