Basic investing question

[zarapipe]

Help a newbie out please. I’ve always been a lurker and this may be my first post on mm.

DH is self employed and I just started a new job. I cannot contribute to my 401k until next year. The job also has a pension that I will be eligible for in 2022. We have both maxed out our IRAs for 2021. Being self employed he does not have any other retirement. I looked into a SEP account but he has employees and I think we would have to do it for employees too which we aren’t in a position to do right now. We have around $5k more we want to stock away this year and I’m not sure where to put it. IRAs are in vanguard currently. I’m not comfortable just buying individual stocks. Can I buy a fund like my IRA is made up of?

At which point do I feel inadequate and look into a financial advisor? His company is doing well and finally feel like we are in a place to save and invest more but not entirely sure how to do that best.

[tcu2003]

Since your IRAs are at Vanguard, I would open a taxable account there as well. And yes, you can invest the money in mutual funds in a taxable account and not single stocks.