Looking for some advice around what retirement and then investing beyond that, specifically the investment vehicles for myself and for my business (no employees). 

In two weeks I start a new job (full time W2) and I'm going to be earning about $20,000 more.  I've decided that I'm going to keep my spending all the same, dedicate that $20k to just investments.  

I have no debt, my house is paid for, my car is new, paid for and I'm saving for the next. Paid off student loans. I have 6 months emergency fund. I'm in need of some catch up on retirement, I'm 38 years old. 

In this new job they have an odd retirement benefits package setup, basically I become eligible and gain access to their 401k after working there for 6 month, then they match after I've been their a year.  So I don't want to loose 6+ months of investing time so I need something to fill that gap and hopefully be useful after that.

I also own a small company (single member S Corp) with no employees (all contractors and that will remain that way forever). Since I have a full time job, I have been taking all the money I earn and putting back into the business to grow it.  Right now and for at least the next 2 years I'm not going to be taking any pay at all, but I could have my business contribute $5k-$10k per year for retirement for myself, if it can be pretax or deducted and I can figure out what vehicle to do it in.  

Finally I do consulting on the side as a contractor myself which is a 1099 tax form.   

I've done a lot of research and not sure what's the best retirement vehicle for myself and then what option I could setup within my business with no employees.  It is likely that even after off setting my tax burden with business deduction that my Gross Income will start to edge into Roth IRA limits, but I'm dancing on that line depending on tax deductions.
Given your situation, here are some potential strategies:

1. For your personal investments during the six-month gap until your 401k becomes available, you could consider opening a traditional Individual Retirement Account (IRA) or, if you qualify, a Roth IRA. This would allow you to contribute up to $6,000 per year ($7,000 if you're over 50). If you're near the income limit for a Roth IRA, you might look into a "backdoor" Roth IRA, which involves making a non-deductible contribution to a traditional IRA and then converting that into a Roth IRA.

2. As for your S Corp, since you have no employees, you might consider setting up a SEP-IRA, SIMPLE IRA, or a Solo 401(k), also known as a one-participant 401(k) plan. All three options would allow your business to make tax-deductible contributions, but they have different contribution limits and rules:

    - A SEP-IRA allows contributions of up to 25% of your compensation, with a maximum of $58,000 for 2021.
    
    - A SIMPLE IRA allows you to defer up to $13,500 of your compensation in 2021 ($16,500 if you're over 50), plus an employer contribution of up to 3% of your compensation.
    
    - A Solo 401(k) allows you to contribute as both an employee and employer, with a total limit of $58,000 for 2021 (or $64,500 if you're over 50).

3. For your consulting work, you could also contribute your earnings to the SEP-IRA, SIMPLE IRA, or Solo 401(k) mentioned above, depending on which one you choose to set up.

4. Once your employer's 401k becomes available, you should aim to at least contribute enough to get the full employer match, as that's essentially free money.

5. If you have additional funds to invest after maxing out these tax-advantaged accounts, you could consider a taxable brokerage account. While this won't provide the same tax benefits, it offers more flexibility as there are no limits on contributions or restrictions on withdrawals.

Remember, investing strategies should be personalized to your specific financial situation and goals. It's advisable to consult with a financial advisor or tax professional to ensure you're making the best decisions for your circumstances.
### Human
Looking for some advice around what retirement and then investing beyond that, specifically the investment vehicles for myself and for my business (no employees). 

In two weeks I start a new job (full time W2) and I'm going to be earning about $20,000 more.  I've decided that I'm going to keep my spending all the same, dedicate that $20k to just investments.  

I have no debt, my house is paid for, my car is new, paid for and I'm saving for the next. Paid off student loans. I have 6 months emergency fund. I'm in need of some catch up on retirement, I'm 38 years old. 

In this new job they have an odd retirement benefits package setup, basically I become eligible and gain access to their 401k after working there for 6 month, then they match after I've been their a year.  So I don't want to loose 6+ months of investing time so I need something to fill that gap and hopefully be useful after that.

I also own a small company (single member S Corp) with no employees (all contractors and that will remain that way forever). Since I have a full time job, I have been taking all the money I earn and putting back into the business to grow it.  Right now and for at least the next 2 years I'm not going to be taking any pay at all, but I could have my business contribute $5k-$10k per year for retirement for myself, if it can be pretax or deducted and I can figure out what vehicle to do it in.  

Finally I do consulting on the side as a contractor myself which is a 1099 tax form.   

I've done a lot of research and not sure what's the best retirement vehicle for myself and then what option I could setup within my business with no employees.  It is likely that even after off setting my tax burden with business deduction that my Gross Income will start to edge into Roth IRA limits, but I'm dancing on that line depending on tax deductions.

### Assistant
Given your situation, here are some potential strategies:

1. For your personal investments during the six-month gap until your 401k becomes available, you could consider opening a traditional Individual Retirement Account (IRA) or, if you qualify, a Roth IRA. This would allow you to contribute up to $6,000 per year ($7,000 if you're over 50). If you're near the income limit for a Roth IRA, you might look into a "backdoor" Roth IRA, which involves making a non-deductible contribution to a traditional IRA and then converting that into a Roth IRA.

2. As for your S Corp, since you have no employees, you might consider setting up a SEP-IRA, SIMPLE IRA, or a Solo 401(k), also known as a one-participant 401(k) plan. All three options would allow your business to make tax-deductible contributions, but they have different contribution limits and rules:

    - A SEP-IRA allows contributions of up to 25% of your compensation, with a maximum of $58,000 for 2021.
    
    - A SIMPLE IRA allows you to defer up to $13,500 of your compensation in 2021 ($16,500 if you're over 50), plus an employer contribution of up to 3% of your compensation.
    
    - A Solo 401(k) allows you to contribute as both an employee and employer, with a total limit of $58,000 for 2021 (or $64,500 if you're over 50).

3. For your consulting work, you could also contribute your earnings to the SEP-IRA, SIMPLE IRA, or Solo 401(k) mentioned above, depending on which one you choose to set up.

4. Once your employer's 401k becomes available, you should aim to at least contribute enough to get the full employer match, as that's essentially free money.

5. If you have additional funds to invest after maxing out these tax-advantaged accounts, you could consider a taxable brokerage account. While this won't provide the same tax benefits, it offers more flexibility as there are no limits on contributions or restrictions on withdrawals.

Remember, investing strategies should be personalized to your specific financial situation and goals. It's advisable to consult with a financial advisor or tax professional to ensure you're making the best decisions for your circumstances.<eos_token>