I work in a commission based sales position. I am receiving a commission check of $99,000 Gross this month. Prior to this I was on track to take home about $150,000-$160,000. As my wife and I were discussing our options, we started looking into ROTH IRAs, as I have a 401k (maxed out to take advantage of full company contribution)through work. Based on our research though we cannot do the ROTH IRA as my projected yearly income this year will be over $203,000. We are planning on paying off our remaining revolving debt to get rid of that. As of this point we are not sure what options we do have. Is there still an option for another type of investment fund? We have 2 young kids, so we have looked into the 529 college savings, but this seems minimal. Since this type of check is most likely a one time thing, we would like to still be able to setup a Roth IRA for future investment. What options do we have outside of a Roth IRA to help with retirement?
Submitted March 14, 2019 at 10:27AM by zoosejk https://ift.tt/2TO3E43
