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23 January 2023 - 10:28, by , in Blog, No comments
When you choose to work with a financial advisor you make a HUGE decision about the direction of your life.  You must be careful and thoughtful when you make this decision.  There are endless lists of questions you could ask, but this would take a considerable amount of time.  Fortunately, you can quickly weed out...
9 January 2023 - 9:54, by , in Blog, No comments
Asset location is a high value way of increasing your after-tax return by holding investments in accounts with optimal tax treatment.  The term is often confused with asset allocation (which involves the selection of the investments).  Asset location only considers where those investments are held.  The three groups of tax classification are: Tax-as-you-go Tax-deferred Tax-free Let’s...
26 December 2022 - 10:23, by , in Blog, No comments
Have you ever asked how to manage your investments yourself?  Look no further.  You are about to learn how to manage your investments with eight important steps to build wealth and reach your goals. Remember, it’s not just about learning these techniques, but using them effectively.  All the knowledge in the world is useless without...
12 December 2022 - 10:02, by , in Blog, No comments
Your Solo 401k contribution due date depends on whether you have a sole proprietorship or a corporation.  If you have a corporation the employee deferral and the employer profit share are due at two different times.  It is very important to make your contributions by the correct due date to keep your plan in compliance. ...
28 November 2022 - 11:48, by , in Blog, No comments
Do you know how to pick a 401k plan administrator? This post will teach you exactly what you need to consider to make your choice. Your Solo 401k comes with additional responsibility compared to other retirement plans (like IRAs and SEP IRAs).  One additional responsibility is plan administration.  The administrator is responsible for making sure...
14 November 2022 - 10:36, by , in Blog, No comments
Your contributions to your Solo 401k don’t just reduce your taxable income, they are make you eligible for extra tax credits and deductions.  Adjusted Gross Income (“AGI”) is often the input in determining whether you are eligible for tax credits and deductions.  Accordingly, the lower your AGI the more likely it is you will be...
25 August 2022 - 22:49, by , in Blog, No comments
If you are a solopreneur who fell in love with another solopreneur then congrats!  You are well on your way to a spousal Solo 401k.  You can both set up your own Solo 401k and build tax-advantaged wealth faster than your friends who are employees.  But what if you are a solopreneur who fell in...
25 August 2022 - 22:10, by , in Blog, No comments
A solopreneur has a significant advantage when it comes to retirement planning.  Unlike an employee, a solopreneur has wide latitude with what kind of plan they may use.  They also have the ability to be very generous to themselves or skip the plan altogether, and they may change their minds from year to year.  Two...
25 August 2022 - 22:09, by , in Blog, No comments
What is the best retirement plan for solopreneurs? It’s high time to implement best retirement plan you’ve never heard of: the Solo 401k. So, you’ve got a high cash flowing business and you know you need to take the next step to make certain that you keep as much control over that cash as possible....