In this video I explain several of the retirement accounts for self employed people as well as how to invest if you are self employed. {You might also like SOLO 401k vs SEP IRA: } In order to be able to invest with an irregular income like many self employed are you have to be in GRIND MODE for a while, live below your means, pay yourself first, and then also decide if you want to reinvest back into your business or start to contribute funds into your retirement accounts.
Hope you are able to find a good financial nugget or two in this video. Appreciate you taking the time to invest in yourself by thinking through many of these topics. Cheers!
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Timestamps / Chapters
0:00 – Intro
1:23 – Grind Mode & Live Below Your Means
5:36 – Self Employed Retirement Accounts
14:41 – How to Invest if you are Self Employed
24:09 – My Thoughts
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ABOUT ME 👇
I’ve been involved in people’s financial decisions for 15+ years (7 yrs Real Estate experience & 8+ yrs as a former Financial Advisor)…I now bring the financial successes, mistakes, failures, and best financial habits/tips to you through these videos.
My mission is to bring Financial Awareness to the forefront of your daily decisions so you can: improve your quality of life, increase your net worth, and grow upon your financial literacy. My videos are a reflection of my real-world experience as a real estate investor, stock market investor, student of finance, entrepreneur, and of course…my experience as a Former Financial Advisor.
This channel allows me to share my passion for personal finance, stock market investing, real estate investing, and entrepreneurship. I produce content that I would want to watch, and because of that, I give 100% effort in every video that I make. I also believe in complete transparency and open communication with my audience.
Subscribe if you are interested in:
#SelfEmployed
#RetirementAccounts
#FinancialPlanning
DISCLAIMER: I am not a financial adviser or a certified public accountant. These videos are for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.
AFFILIATE DISCLOSURE: Some of the links on this channel are affiliate links, meaning, at NO additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact my opinion….(read more)
LEARN MORE ABOUT: IRA Accounts
CONVERTING IRA TO GOLD: Gold IRA Account
CONVERTING IRA TO SILVER: Silver IRA Account
REVEALED: Best Gold Backed IRA
SOLO 401(k) vs SEP IRA: https://youtu.be/D8ivxBki-rw
When do you think self employed people should ease-off reinvesting back into their business and start investing into a retirement account? Curious to see what y'all think…
I want to watch each video you suggest thru out this video but its hard to go back and find each part where they are mentioned and the thumbnail is shown. If they were in the description, the links to each video, in the order they are mentioned, I could watch each one much easier and quicker!
So helpful and clear. Great video great production. Watching your other vids now.
Very informative. I appreciate your channel!
You said the solo 401k should fund from your business account…. I assume that’s for the employer contribution only. The 19500 employee contribution should come from my personal no?
I wanna contribute. The best thing I could have done with my business (and not everyone can) is make sure to pay quarterly taxes on time every time. Before I learned how to save for my business, I had to learn to pay quarterly first. In the beginning of my business I’d get screwed every April trying to figure out how I’m gonna pay. After I took some serious pay cuts I started to learn to live more frugally and learned how to allocate money. Taking the quarterly out of every pay check before touching the money was the best financial decision I’ve ever made. While I was doing that I learned that I could take more than I needed for taxes out and split some of it I to savings. And that’s when I later learned if I don’t have the money in checkings, then I won’t spend it.
Great videos!! Who would you recommend to do taxes with as an LLC partnership? Thanks in advance! 🙂
Your Channel is the best of its kind that I’ve found so far! Thanks for the educational content!
Glad I found your channel thank you
Why was this not taught to us in business school? Anyway, thank you for this educational material. So needed!
Very informative! Appreciate the content so i had to subscribe. Keep it up.
Sending this video to my barber since he has a unpredictable income !
Very informative. Always look forward to your videos regarding the self employed.