Hey Bob's_not_my_name, yes, I could be making up to about $50k in contributions to the SEP-IRA per year, but I only contribute the amount that is deductible from my federal income taxes. This way, I'm not paying tax on the money twice.
The Taxable account has about 70% of the portfolio, and the SEP-IRA has about 30%.
Also, thank you for the backdoor Roth IRA idea. This is the first I've read about the backdoor "loophole". Looks like I picked a good year to file an extension, as I should be able to still make a 2012 contribution to this account. I will be pursuing this for my wife, who already has a 401(k) with her employer.
Hey rickmerrillj, why do you say that a S&D-er should be talking about a sizeable amount of money? The strategy doesn't seem to depend on amount. Thank you for the telltale chart reference, I had not seen that before.
Hey PeterFoley, thank you for the welcome! I agree on your point regarding positions of < 5%. I plan to eliminate them from my portfolio, though I need to wait a few months to ensure I'm not incurring any capital gains taxes from the Taxable account. Are you familar with capital gains taxes regarding funds in an IRA account? I want to make sure I avoid any scenario where I could incur a capital gains tax in the IRA.
I haven't decided what to do about how much, if any, bond funds I should be in. I was a little surprised to read in "The Elements of Investing" by Malkiel,Ellis that Burt recommends 0-10% bonds for those in their 20s - 30s.