I just had a few CDs mature within my SEP IRA acct. I was wondering if you could give me your opinion on how I should distribute the $27k within the SEP IRA for best balance. Any help you’re available to offer I would really appreciate!
Welcome @Mskeek!
The fact that your SEP IRA is in CDs makes me think you may have opened it with a bank, not a brokerage? Who is your SEP with?
That said, if my suspicion is correct, you may want to transfer your SEP to a brokerage like Vanguard, Fidelity or Schwab. Then, I would dump 100% of it into a target date index fund. Here’s why:
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Thank you for getting back to me!
It’s in a Schwab brokerage acct. since I didn’t know how to invest the contributions I was making I put it in CDs.
Oh good! Schwab is great! Yeah, CDs are paying next to nothing right now. Like you still may be losing to inflation over time. Check that target date index fund link above. There are ticker symbols for Schwab. Add 65 to your birth year, dump 100% in, leave it for decades, and you’re optimally investing! Keep investing early and often. Don’t sell anything until you retire! 