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Updated almost 5 years ago,
Where to put my money NOW
I am in the beginning phases of putting together an investment team specifically targeting multifamily properties. I have a few questions regarding money and recommendations of putting it moving forward. I normally contribute about 1250 dollars towards my TSP (Im currently active duty) and I pay my wife a "retirement" vehicle of 350 a month for her Roth IRA. Obviously with the economy downshift over the last week or two, I have lost a significant amount of money in both the TSP an Roth IRA.
1) Should I roll the current TSP and wife Roth IRA amount into a SDIRA and make new payments of 1250+350, so 1600 month to the SDIRA?
2) Leave the TSP and my wife Roth IRA I pay monthly a lone and open a SDIRA and contribute the 1250+350, so 1600 month into the SDIRA?
3) Can my wife roll her Roth IRA into my/our SDIRA or does that have to stay in individualized accounts?
3) I am not very sophisticated with SDIRA, but understand the premise of do's and don's with it along with the tax advantages of using the money to potentially get into a deal and that portion of capital gains would go back into the SDIRA as a "retirement vehicle". Rinse and repeat to allow some breaks a long the way In my real estate journey.
Lee