I Maxed My Retirement Accounts. Now What?

A reader faces a first-world “dilemma” that is not at all uncommon among financially savvy physicians.

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All available tax-advantaged space has been filled with investments. What should one do with additional “leftover” money? It’s going to depend on the situation, but the good Dr. Jim Dahle outlines a wide variety of options, some of which you might not have considered before.

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Spousal Retirement Accounts

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Paying Down Debt

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Lobby Employer For Additional Retirement Accounts

[{"selector":"#anim-60f7fa47-8c35-445c-a427-5eafee1c6448","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d1e498dc-f8b7-4aea-90c4-105a797bccb7","keyframes":{"transform":["translate3d(96.81698%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Self-employed physicians can use a Solo 401K or SEP-IRA with a $55K limit. Many partnerships have 401K/Profit-sharing plans in place with the same limit. These physicians may also have a defined benefit plan allowing them to save another $10-50K. Read More

Catch-Up Contributions

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SWIPE UP NOW TO READ MORE

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