# High income earner. Maxed out work 401k. What's next best step? **URL:** \ **Category:** Retirement Accounts and Strategies\ **Created:** [January 13, 2023, 8:19pm UTC](https://discussion.mainstreetbusinesspodcast.com/t/high-income-earner-maxed-out-work-401k-whats-next-best-step/52 "2023-01-13T20:19:53Z")\ **Posts on this page:** 2\ **Page:** 1
**Author:** ![JasonBrown](https://avatars.discourse-cdn.com/v4/letter/j/e19b73/32.png) [@JasonBrown](https://discussion.mainstreetbusinesspodcast.com/u/JasonBrown)\ **Post date:** [January 13, 2023, 8:19pm UTC](https://discussion.mainstreetbusinesspodcast.com/t/high-income-earner-maxed-out-work-401k-whats-next-best-step/52/1 "2023-01-13T20:19:53Z")
Retirement question - High-income w2 earner ( I’m over the IRA income limits, barely ). I max out my employer’s 401k ( the contribution limit ). I also have several side gigs ( Single member LLC ) so income goes much higher than IRA will allow. Can not do HSA as work insurance is low deductible. What else can I do for retirement? Not able to do IRA due to income. Can’t do more on 401k. Not interested yet in a Solo401k myself. What is next best step - Would it be a SEP or SIMPLE or am I out of that too because of my income level and contribution to the employer 401k? Want to reduce tax in this example. ---
**Author:** ![GI\_DOC](https://avatars.discourse-cdn.com/v4/letter/g/71c47a/32.png) [@GI\_DOC](https://discussion.mainstreetbusinesspodcast.com/u/GI_DOC)\ **Post date:** [February 6, 2023, 11:52pm UTC](https://discussion.mainstreetbusinesspodcast.com/t/high-income-earner-maxed-out-work-401k-whats-next-best-step/52/2 "2023-02-06T23:52:56Z")
Backdoor Roth IRA for you and your spouse (if applicable). If you are aiming to maximize tax efficient investing, then Solo 401K is the way to go. A solo 401K is generally much more preferrable to SEP or SIMPLE IRA. Hope this helps.