M6- couldn't you open and max a SEP IRA? Or even better maybe a Self-Employed 401K?
With a traditional IRA, you can only put in $5,500 each (but it will be deductible even at your income level since neither of you are covered y an employer plan).
With the two options I mentioned above, you can contribute roughly $50,000 each per year. That adds up very quickly and it is still tax-advantaged growth. I see no downside, even if you can't trade futures right away (not sure what your minimum needed is for your favorite strategies).
Thanks! I didn't know it was that high. For risk purposes, our smallest strategy's account size recommended is $50k, but we could go as low as $15k. But it's dangerously low. We don't even allow clients to cash fund less than half of any strategies recommended size unless they're high up as a QEP then we'd reconsider.
Actually now that I'm thinking about it, I'm not sure if we are considered self employed anymore because we just restructured our business last fall and now take a salary from our company. It's something I'll have to ask our accountant.
Even if you are structured as another form, you should be able to set up some sort of Profit Sharing Plan/401K or SEP or something. Your accountant should help you maximize this. These types of accounts can grow really quickly due to the contribution limits.