Investing outside of your retirement accounts in a traditional brokerage or mutual fund account will provide you with a lot more financial flexibility in the future. There are several reasons why, but primarily it provides you with a tax preferred bucket to tap into at a lower tax rate in the future. In an after tax brokerage account, you are taxed on the capital gains and dividends realized from your investments; this is often a lower rate than your ordinary income rate. I regularly work with retirees who have all of their retirement assets in 401(K) and IRA type accounts. This can limit their flexibility in retirement as in order to purchase a car or replace the roof on their homes they have to take much larger distributions to cover both the tax and the expense. The same is true if you are still working and need to tap into your savings beyond what is in the bank. Throughout life there are unknowns that pop-up, and having a bucket to draw on in the event of an unforeseen expense is very valuable. As you probably know, withdrawals from your retirement accounts are often taxable at ordinary income rates and may carry a 10% penalty; I have seen as much as 50% of the amount distributed due in taxes and penalty the following April. Congratulations on your successful savings thus far, it sounds like you are on track to continue saving and adding to your financial flexibility in the future.
It sounds like you are doing very well, and you should be commended on wanting to take the next step. As Eric suggested, opening an after-tax brokerage account is going to be your best bet. You can look to online brokers like Schwab, Scottrade, E-Trade, etc. It will allow you to have both an after-tax and a pre-tax pool of money to pull from both before, and during, retirement. From the sounds of it, it might be worthwhile to speak with a fee-only financial planner to ensure that you're invested properly for your situation, goals, etc. Saving the money is one thing, but making sure you are not taking too much (or too little) risk and you are investing it in a well-diversified portfolio that will help you reach your goals is a completely separate thing. If you want to continue to manage the account(s) on your own, you can do that, and only call on a planner when you want to review things or have questions, etc. Most fee-only planners charge between $175 and $300 per hour, but it could be money very well spent to make sure that your portfolio is well allocated and diversified and that you are making sensible financial moves elsewhere in your life as well (after all, investing is just one component of an overall financial plan). Best of luck!
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