Podcasts about sep ira

Laura reviews the differences between two popular retirement accounts for business owners, a solo 401(k) and SEP-IRA.Money Girl is hosted by Laura Adams. A transcript is available at Simplecast.Have a money question? Send an email to money@quickanddirtytips.com or leave a voicemail at (302) 364-0308.Find Money Girl on Facebook and Twitter, or subscribe to the newsletter for more personal finance tips.Money Girl is a part of Quick and Dirty Tips.Links:https://www.quickanddirtytips.com/https://www.quickanddirtytips.com/money-girl-newsletterhttps://www.facebook.com/MoneyGirlQDThttps://twitter.com/LauraAdamshttps://lauradadams.com/

In this episode, I break down employer-sponsored retirement plans and the different options available. From 401(k)s and Roth accounts to SEP IRAs and the mega backdoor Roth strategy, learn how to maximize your retirement savings. - Overview of retirement account options (401(k), Roth, SEP IRA, etc.)- The significance of employer matches- Catch-up contributions for those aged 50 and above- Investment strategies for long-term growth- Understanding fees and choosing the right funds---------✅ Financial planning for 30-50 year old entrepreneurs: ⁠allstreetwealth.com⁠✅ My personal blog & newsletter: thomaskopelman.com⁠Disclaimer: None of this should be seen as financial advice. It is just for informational purposes.

In this episode, Dr. Preston Cherry breaks down how business owners can choose and use retirement plans to boost income, cut taxes, and maintain their lifestyle. He covers Simple IRAs, SEP IRAs, Solo 401ks, and cash balance plans while explaining key tax-saving strategies, like diversifying tax exposure and using Health Savings Accounts (HSAs).Takeaways:• Maximize income & tax savings• Choose the right plan• Solo 401ks = big contributions• Cash balance = higher limits• HSAs = triple tax benefitsWant to learn more? Connect with us below!Stay informed and inspired! Join our FREE wealth & well-being newsletterDo you want confidence & clarity? Check out our award-winning wealth advice servicesGrab Your Copy of Dr. Cherry's book ‘Wealth In The Key of Life'Disclosure: episodes are educational only, not advice. Review our disclosures here: https://www.concurrentfp.com/disclosures/

EP 121 - In this episode of The Share the Wealth Show, host Nicole Pendergrass welcomes Brittany Hymes, the visionary behind Crown Wells Bank. Brittany shares her bold mission to launch a Black-owned bank, offering both brick-and-mortar and online financial services. Despite the challenges of regulatory approvals and industry experience, she's pushing forward with strategic partnerships and a long-term vision for financial empowerment.Key takeaways include:

Takeaways: 1.      No major changes for 2025 so far 2.      IRA contributions remain the same, 401(k) and SEP IRA have had increases. 3.      Most likely taxes on Social Security benefits will remain. Hopefully they will inflate the brackets to more current levels. They haven't been inflated since the 1980's. 4.      If you own rental properties, be sure to deduct depreciation and recapture it when you sell. 5.      Tax planning strategies. Tax loss harvesting on non-IRA accounts and Roth conversions to help lower taxes for the future.

We're kicking off 2025 with a series designed with the small business owner in mind! 2025 is another big year of retirement plan updates and upgrades, and we don't want to leave you without resources. In this foundational episode, we discuss the more simple/easy retirement plans most business owners start with (SIMPLE IRA, SEP IRA, Solo 401(k)). We then talk about the signs to look for that suggest it might be time for a plan upgrade, and we talk a little bit about 401(k)s (the deep dive comes next episode!).Contact: Ben@abundancewm.comWebsite: Abundance Wealth ManagementShow music: Can We Go by The Violet NinesDISCLAIMERThe discussions contained in and referred to in this podcast are provided for educational, informational, and entertainment purposes only. The information, statements, comments, views, and opinions expressed or provided are not necessarily those of Abundance Wealth Management LLC and may not be current. Abundance Wealth Management LLC does not make any representation or warranty as to the accuracy or completeness of any of the information, statements, comments, views, or opinions contained in this podcast, and any liability therefore (including in respect of direct, indirect or consequential loss or damage of any kind whatsoever) is expressly disclaimed. Abundance Wealth Management LLC does not undertake any obligation whatsoever to provide any form of update, amendment, change or correction to any of the information, statements, comments, views, or opinions set forth in this podcast.You should not make any decision, financial, investment, trading or otherwise, based on any of the information presented in this podcast without undertaking independent due diligence and consultation with a professional wealth management advisor. You understand that you are using all information available on or through this podcast at your own risk. Hosted on Acast. See acast.com/privacy for more information.

I'm thrilled to sit down with Jon Fritzinger, an expert in retirement benefits, to unpack everything business leaders need to know about providing these crucial perks to their teams. Jon starts off by explaining why offering retirement benefits is more than just a great perk—it's a powerful tool for attracting and retaining top talent and supporting your employees' long-term financial well-being. With state mandates and compliance requirements on the rise, Jon shares the ins and outs of what employers need to stay compliant and competitive.We dive deep into the specifics, starting with the SEP IRA and Simple IRA. Jon explains how these options provide straightforward solutions for smaller businesses looking for manageable, cost-effective ways to get started with employee retirement plans. Then, we explore the world of 401(k) plans, which are a staple in retirement benefits that can be tailored to fit companies of various sizes and budgets. Jon walks us through the cost and implementation factors of 401(k) plans. He sheds light on what business owners need to consider for a smooth setup that benefits everyone involved.But it doesn't stop there, Jon also breaks down how to choose the right provider for your retirement plan needs. Whether you're just starting to think about retirement benefits or looking to upgrade your offerings, this episode will leave you armed with actionable insights and a clear roadmap for making the best decisions for your business and team. Join us as we wrap up with Jon's final thoughts on creating sustainable, impactful benefits packages.What you'll hear in this episode:[2:20] Why Offer Retirement Benefits?[3:35] Types of Retirement Plans[5:00] State Mandates and Compliance[6:55] SEP IRA[9:05] Simple IRA[12:00] 401k Plans[18:55] Choosing the Right Provider[24:50] Tax Credits and Incentives[32:35] Conclusion and Final ThoughtsListen to Similar Episodes:If You Aren't Supporting Your Team's Financial Wellness, You Should Be with Mel AbrahamTop Benefits You Should Consider Offering As A Small BusinessBenefit Open Enrollment - What the Heck is it?Find more information the Western Level website https://westernlevel.com/Email Jon hello@westernlevel.comActiveindex.comwork cultured Podcast apple* Connect with me on LinkedIn https://www.linkedin.com/in/jackiemkoch/* Find more information on my website peopleprinciples.co

The murder of United Healthcare CEO Brian Thompson has created a lot of argument and discussion about healthcare and health insurance. Clark addresses the problems and challenges we face with the U.S. healthcare system including lack of choice, hidden pricing, and consumers being squeezed on cost and denied care. Also - Clark discusses new statistics on how long it is taking many workers to find a new job, and how you should prepare. American Healthcare: Segment 1 Ask Clark: Segment 2 Employment Update: Segment 3 Ask Clark: Segment 4 Mentioned on the show: After a shocking shooting, Americans vent feelings about health insurance National Academy of Elder Law Attorneys Home NAELA How Much Money Do I Need in My Emergency Fund? How Much Do You Need To Save a Month To Get $10,000? 17 of the Best High-Yield Online Savings Accounts in December 2024 Is Robinhood Gold Worth It? How To Open a Roth IRA What Is a SIMPLE IRA and How Does It Work? What Is a SEP IRA and Who Is Eligible? Clark.com resources Episode transcripts Community.Clark.com Clark.com daily money newsletter Consumer Action Center Free Helpline: 636-492-5275 Learn more about your ad choices: megaphone.fm/adchoices Learn more about your ad choices. Visit megaphone.fm/adchoices

Key Takeaways: Boost Retirement Savings Putting as much money as possible into retirement accounts like a 401k or SEP IRA isn't just good for your future—it can lower the amount of taxes you pay now. Smart Business Purchases If your business needs big equipment, like a computer or machinery, buying it before the end of the year could reduce your taxes. But only do this if it makes sense for your business plan and budget. Plan Your Spending Wisely Pay attention to how and when you spend money or send out invoices. Sometimes, spending or paying bills a little earlier can help reduce taxes. Celebrate Growth, Even Taxes Getting a tax bill can feel frustrating, but it also means your business or income is growing. It's a sign of success! Get Professional Advice Working with a CPA (a tax expert) and a financial planner can help you find the best ways to save on taxes while growing your money and business.   Chapters: Timestamp Summary 0:00 Year-End Tax Strategies for Business Owners 1:59 Tax Strategies for Retirement and Business Investments 4:07 Bitcoin Mining Machines as Legit Business Expenses 4:22 Balancing Business Growth with Tax Efficiency and Strategic Investments 6:44 Visualizing Success Through Tax Obligations and Business Growth 9:08 Investment Risks and the Importance of Professional Guidance   Powered by ReiffMartin CPA and Stone Hill Wealth Management   Social Media Handles    Follow Phillip Washington, Jr. on Instagram (@askphillip)   Subscribe to Wealth Building Made Simple newsletter https://www.wealthbuildingmadesimple.us/   Ready to turn your investing dreams into reality? Our "Wealth Building Made Simple" premium newsletter is your secret weapon. We break down investing in a way that's easy to understand, even if you're just starting out. Learn the tricks the wealthy use, discover exciting opportunities, and start building the future YOU want. Sign up now, and let's make those dreams happen!   WBMS Premium Subscription   Phillip Washington, Jr. is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.

Today, I'm continuing my series about year-end tax tips and discussing why it's so important to contribute to tax-advantaged retirement accounts. I'm diving into the differences between 401k's, traditional and Roth IRAs, as well as the SEP IRA option for self-employed individuals.   Join me in this important episode to learn how you can maximize your tax savings and retirement contributions.   Also mentioned in today's episode:    401k and 403b accounts 4:43 IRA contribution limits and tax benefits 7:13 Deadlines and contribution strategies 9:38   If you enjoyed this episode, please rate, review and share it!    Links: IRA income caps Free Class: https://go.sunlighttax.com/free  

In this episode of The Retirement Fiduciary, Adam Koos concludes his NERD-vember series with Part 2 of "Major Factors to Consider When Investing," shifting focus to two additional critical factors in investing: momentum and volume. Building on the foundation set in Part 1, Adam explains how these indicators can help you better understand market behavior and make more informed investment decisions. By exploring the role of momentum, he shows how the speed of price changes can signal future trends, while his discussion on volume highlights its importance in confirming those trends.   Check out the video on YouTube for visuals  Libertas Wealth: https://bit.ly/3HpmN2o   Subscribe on Apple Podcasts:  https://apple.co/3NQHjeO   Subscribe on Spotify: https://spoti.fi/3aTTCse   Subscribe on Google Podcasts: https://bit.ly/3QmGmMU   For more VIDEO podcasts like this one: https://bit.ly/42uevkm  For more AUDIO podcasts: https://bit.ly/3PHXHzo   For educational VIDEOS and Stock Market Updates: https://bit.ly/3Tvh4yR For general financial educational ARTICLES: https://bit.ly/3VyJbzP For more Real-Time Updates on the Economy and State of the Markets Follow Adam Koós on Twitter @AdamKoos: https://bit.ly/3tzccwk   Or follow Adam on Instagram @AdamDKoos https://bit.ly/4aoPI3U --- Adam Koos, CFP®, CMT® is a CERTIFIED FINANCIAL PLANNER and one of only 2,600+ Chartered Market Technicians (CMT) worldwide, as well as a Certified Financial Technician (CFTe®) thru the International Federation of Technical Analysts (IFTA). He's been named by Columbus Business First as one of their 20 People to Know in Finance, was a recipient of the Forty Under 40 award, is ranked by Investopedia as one of America's top 100 Most Influential Advisers, and is the winner of the coveted Better Business Bureau Torch Award for Ethical Enterprising. Adam serves his clients as the president and portfolio manager at Libertas Wealth Management Group, Inc., a Fee-Only Registered Investment Advisory (RIA) firm, located in Columbus, Ohio. ******* The audio and video contained herein is intended for those interested in finance, searching for a financial advisor, wealth manager, financial planner, and/or retirement planning. While we are CERTIFIED FINANCIAL PLANNERS (through the College for Financial Planning) and work with clients all over the country, our business is run out of Columbus / Central Ohio. If you are looking for wealth management, financial planning, a financial counselor, wealth advisor, or financial consultant – especially a fee-only, Fiduciary Registered Investment Advisor – we provide money management and financial services for individuals and couples (i.e. – a 401k rollover), as well as business owners (i.e. – 401k, SIMPLE, SEP IRA's, as well as cash balance and other various retirement plans.

Welcome to episode 74 of the One for the Money podcast. I am so very grateful you have taken the time to listen. In this episode, I will share when you should max out your retirement plan such as a 401k, and when you should not. In the tips, tricks, and strategies portion, I will share a retirement saving tip for those who don't have access to a retirement plan through their job. In this episode...1978 Revenue Act [1:05]When Not to Max Out Contributions [3:03]When You Should Max Out Contributions [6:46]1978 was a watershed moment in the history of retirement for Americans. That was the year that a Revenue Act was enacted by congress and established 401k and 457b retirement plans. 401k retirement plans are for the private sector and 457b plans are for state and local government employees, as well employees of certain tax-exempt organizations. These plans now allowed employees to defer some of their income and avoid taxes on that income until they take it out later in retirement. This was huge. People could now save for retirement in tax advantaged ways. Prior to that, most American's relied on pensions from their employers for income in retirement. With a pension, the employer is committed to providing a specific amount of money to the employee for life during retirement. And that was feasible when people worked for several decades for the same employer and didn't live that long in retirement. But as individuals started changing jobs more frequently for better opportunities and peoples life expectancy increased significantly, the pension system became untenable for both the public and private sector. 401ks are for companies government employees use 457b plans and public school employees (teachers) and non profits use 403(b) plans. Specifically regarding 401ks, 68% of private sector American workers currently have access to an employer sponsored retirement plan.For those Americans who have access to a retirement plan at work be it a 401k, 403b, 457b, SEP IRA or Simple IRA some wonder whether it makes sense to max it out every year. As with any financial planning, it depends upon your unique situation and circumstances.When you should NOT max out your 401k/403b/457b/SEP or Simple IRAThere are times when you shouldn't max out your retirement account. One of the most obvious reason is if you have high interest debt that needs to be paid off first. However, I would recommend in this scenario that you at least contribute to the company match as that is free money. No higher contributions should be made until after your high interest debt is paid off. You need to pay down high-interest debt, for example credit card debt. The average credit card currently has an APR of more than 20%, which is well above the amount you could reasonably expect to earn on a diversified portfolio in any given year. That's why it is always better to funnel extra cash toward paying down high-interest debt instead of maxing out retirement plan contributions.Another reason not to max out contributions to your work retirement plan is if you don't have a sufficient emergency fund. As a reminder, you should have 3-6 months of your minimum expenses in savings to cover a potential financial emergency. We learned this first hand a few months ago when our eldest son nearly drowned while surfing. He was rushed to the hospital and was released the next day, but I was glad we had the savings to cover the incredibly high costs we have incurred as a result.A third reason why you shouldn't max out your company retirement plan is if you haven't yet funded a Health Savings Account or HSA. As a reminder, HSAs are available to individuals with qualifying high deductible medical plans. HSAs are incredibly powerful as they are the only triple tax free retirement account and they have the added advantage of early...

In this episode Adam is diving into the first part of his NERD-vember series, doing a deeper dive into 2 of the major factors to consider when investing... price and trend.  Adam will be looking at these 2 indicators and how to use them to determine if it's a good TIME to buy, or when it's a good time to buy or sell your current investments.  Examing the highs and lows of recent market history, Adam shares more on how trends and moving averages work and how to take this into account when making your financial decisions.    Check out the video on YouTube for visuals  Libertas Wealth: https://bit.ly/3HpmN2o   Subscribe on Apple Podcasts:  https://apple.co/3NQHjeO   Subscribe on Spotify: https://spoti.fi/3aTTCse   Subscribe on Google Podcasts: https://bit.ly/3QmGmMU   For more VIDEO podcasts like this one: https://bit.ly/42uevkm  For more AUDIO podcasts: https://bit.ly/3PHXHzo   For educational VIDEOS and Stock Market Updates: https://bit.ly/3Tvh4yR For general financial educational ARTICLES: https://bit.ly/3VyJbzP For more Real-Time Updates on the Economy and State of the Markets Follow Adam Koós on Twitter @AdamKoos: https://bit.ly/3tzccwk   Or follow Adam on Instagram @AdamDKoos https://bit.ly/4aoPI3U --- Adam Koos, CFP®, CMT® is a CERTIFIED FINANCIAL PLANNER and one of only 2,600+ Chartered Market Technicians (CMT) worldwide, as well as a Certified Financial Technician (CFTe®) thru the International Federation of Technical Analysts (IFTA). He's been named by Columbus Business First as one of their 20 People to Know in Finance, was a recipient of the Forty Under 40 award, is ranked by Investopedia as one of America's top 100 Most Influential Advisers, and is the winner of the coveted Better Business Bureau Torch Award for Ethical Enterprising. Adam serves his clients as the president and portfolio manager at Libertas Wealth Management Group, Inc., a Fee-Only Registered Investment Advisory (RIA) firm, located in Columbus, Ohio. ******* The audio and video contained herein is intended for those interested in finance, searching for a financial advisor, wealth manager, financial planner, and/or retirement planning. While we are CERTIFIED FINANCIAL PLANNERS (through the College for Financial Planning) and work with clients all over the country, our business is run out of Columbus / Central Ohio. If you are looking for wealth management, financial planning, a financial counselor, wealth advisor, or financial consultant – especially a fee-only, Fiduciary Registered Investment Advisor – we provide money management and financial services for individuals and couples (i.e. – a 401k rollover), as well as business owners (i.e. – 401k, SIMPLE, SEP IRA's, as well as cash balance and other various retirement plans.

Today we're learning allllll about IRAs (individual retirement arrangements/accounts) including Roth IRAs, Traditional IRAs, Rollover IRAs and SEP IRAs. You'll understand contribution limits, tax implications, and eligibility requirements for each account. As always, we aim to empower you with all the knowledge you need to make informed decisions for future you. This is not advice.      ✨Roth IRAs are best for you if you are in a lower income tax bracket and do not need a tax break, because you are taxed upfront, not later.  ✨Traditional IRAs are best for you if you do not qualify for a Roth, or if you need a tax break… if you qualify for the deduction. The benefits are before tax dollars, offering you a tax break if you are eligible bc you are in a higher tax bracket.  ✨Rollover IRAs you rollover an employer sponsored plan, like a 401k in the plan you want to keep them separate so you can roll it back into a new 401k plan at a new employer.  ✨SEP IRAs are best for small business owners who do not want the complexities of 401ks. There are higher contribution limits, and all contributions are made by the employer.        Contribution LimitsYou have to have taxable compensation and your modified AGI. Beginning in 2024, the IRA contribution limit increased to $7,000 ($8,000 for individuals age 50 or older) from $6,500 ($7,500 for individuals age 50 or older). This stayed the same for 2025.   Resources:  Contribution limits: https://www.irs.gov/publications/p590a SEP IRA FAQ: https://www.irs.gov/retirement-plans/retirement-plans-faqs-regarding-seps  Still Have More Questions or a Comment? 

In this episode of "The Retirement Fiduciary," Adam sits down with Dan Baron, an expert in estate planning, elder care law, probate, and business succession, to simplify the often daunting process of estate planning. Together, they explore important topics like whether or not you should avoid probate and how the probate process can impact your assets. Dan introduces the concept of asset shrinkage, explaining how poor planning can lead to significant loss of wealth over time, especially in the face of rising nursing home costs, which he discusses in detail with average figures from across the United States. He also shares real-life examples of how trust planning has benefitted families, as well as cautionary tales where the lack of a trust caused serious financial and legal issues. Additionally, Dan provides insights into what constitutes reasonable fees for estate planning services, helping listeners understand what to expect when working with professionals in this field. If you're looking to protect your assets and secure your family's future, this episode offers invaluable advice. https://www.baronlawcleveland.com/contact/ https://www.linkedin.com/in/dan-baron-55abb326    Libertas Wealth: https://bit.ly/3HpmN2o   Subscribe on Apple Podcasts:  https://apple.co/3NQHjeO   Subscribe on Spotify: https://spoti.fi/3aTTCse   Subscribe on Google Podcasts: https://bit.ly/3QmGmMU   For more VIDEO podcasts like this one: https://bit.ly/42uevkm  For more AUDIO podcasts: https://bit.ly/3PHXHzo   For educational VIDEOS and Stock Market Updates: https://bit.ly/3Tvh4yR For general financial educational ARTICLES: https://bit.ly/3VyJbzP For more Real-Time Updates on the Economy and State of the Markets Follow Adam Koós on Twitter @AdamKoos: https://bit.ly/3tzccwk   Or follow Adam on Instagram @AdamDKoos https://bit.ly/4aoPI3U --- Adam Koos, CFP®, CMT® is a CERTIFIED FINANCIAL PLANNER and one of only 2,600+ Chartered Market Technicians (CMT) worldwide, as well as a Certified Financial Technician (CFTe®) thru the International Federation of Technical Analysts (IFTA). He's been named by Columbus Business First as one of their 20 People to Know in Finance, was a recipient of the Forty Under 40 award, is ranked by Investopedia as one of America's top 100 Most Influential Advisers, and is the winner of the coveted Better Business Bureau Torch Award for Ethical Enterprising. Adam serves his clients as the president and portfolio manager at Libertas Wealth Management Group, Inc., a Fee-Only Registered Investment Advisory (RIA) firm, located in Columbus, Ohio. ******* The audio and video contained herein is intended for those interested in finance, searching for a financial advisor, wealth manager, financial planner, and/or retirement planning. While we are CERTIFIED FINANCIAL PLANNERS (through the College for Financial Planning) and work with clients all over the country, our business is run out of Columbus / Central Ohio. If you are looking for wealth management, financial planning, a financial counselor, wealth advisor, or financial consultant – especially a fee-only, Fiduciary Registered Investment Advisor – we provide money management and financial services for individuals and couples (i.e. – a 401k rollover), as well as business owners (i.e. – 401k, SIMPLE, SEP IRA's, as well as cash balance and other various retirement plans.

Laura answers a listener's question about using a SEP-IRA when you have a little or a lot of self-employment income.Money Girl is hosted by Laura Adams. A transcript is available at Simplecast.Have a money question? Send an email to money@quickanddirtytips.com or leave a voicemail at 302-365-0308.Find Money Girl on Facebook and Twitter, or subscribe to the newsletter for more personal finance tips.Money Girl is a part of Quick and Dirty Tips.Links: https://www.quickanddirtytips.com/https://www.quickanddirtytips.com/money-girl-newsletterhttps://www.facebook.com/MoneyGirlQDThttps://twitter.com/LauraAdamshttps://lauradadams.com/

Hey everyone, welcome back! Today, the Traveling Groomers hosted an insightful session with River Lee on retirement planning for small business owners and employees. We dove into the importance of knowing your IRAs—Traditional versus Roth—and why consistent, small contributions can benefit your future. River shared her tips on leveraging business structures like SEP IRAs for significant savings and maximizing tax advantages. We also touched on practical financial strategies, from reducing debt to considering micro-investing apps. Remember, it's about planning ahead and making smart choices today for a secure, enjoyable retirement. Stay tuned for more tips and keep thriving!

"Up The Escalator - Down The Elevator" In this episode of The Retirement Fiduciary, Adam explores the concept of "Daylight," a key metric that investors should pay close attention to when markets become volatile. Daylight refers to the average price of an investment over a specified period, offering a clearer picture of an asset's performance by smoothing out short-term fluctuations. Adam explains how this metric can help investors make better decisions, especially when market conditions are unpredictable or erratic. Using examples from the past five years, Adam illustrates how Daylight has played a role in guiding investment strategies through periods of market instability. He also discusses why it's crucial to consider Daylight alongside other financial indicators to get a more balanced view of the market.   Libertas Wealth: https://bit.ly/3HpmN2o   Subscribe on Apple Podcasts:  https://apple.co/3NQHjeO   Subscribe on Spotify: https://spoti.fi/3aTTCse   Subscribe on Google Podcasts: https://bit.ly/3QmGmMU   For more VIDEO podcasts like this one: https://bit.ly/42uevkm  For more AUDIO podcasts: https://bit.ly/3PHXHzo   For educational VIDEOS and Stock Market Updates: https://bit.ly/3Tvh4yR For general financial educational ARTICLES: https://bit.ly/3VyJbzP For more Real-Time Updates on the Economy and State of the Markets Follow Adam Koós on Twitter @AdamKoos: https://bit.ly/3tzccwk   Or follow Adam on Instagram @AdamDKoos https://bit.ly/4aoPI3U --- Adam Koos, CFP®, CMT® is a CERTIFIED FINANCIAL PLANNER and one of only 2,600+ Chartered Market Technicians (CMT) worldwide, as well as a Certified Financial Technician (CFTe®) thru the International Federation of Technical Analysts (IFTA). He's been named by Columbus Business First as one of their 20 People to Know in Finance, was a recipient of the Forty Under 40 award, is ranked by Investopedia as one of America's top 100 Most Influential Advisers, and is the winner of the coveted Better Business Bureau Torch Award for Ethical Enterprising. Adam serves his clients as the president and portfolio manager at Libertas Wealth Management Group, Inc., a Fee-Only Registered Investment Advisory (RIA) firm, located in Columbus, Ohio. ******* The audio and video contained herein is intended for those interested in finance, searching for a financial advisor, wealth manager, financial planner, and/or retirement planning. While we are CERTIFIED FINANCIAL PLANNERS (through the College for Financial Planning) and work with clients all over the country, our business is run out of Columbus / Central Ohio. If you are looking for wealth management, financial planning, a financial counselor, wealth advisor, or financial consultant – especially a fee-only, Fiduciary Registered Investment Advisor – we provide money management and financial services for individuals and couples (i.e. – a 401k rollover), as well as business owners (i.e. – 401k, SIMPLE, SEP IRA's, as well as cash balance and other various retirement plans.

Today, Amy and Jag delve into the contrasting strategies of lump sum investing versus dollar-cost averaging (DCA). Amy starts by defining lump sum investing as the practice of investing a large amount of money all at once, like a $100,000 bonus, while dollar-cost averaging involves spreading the investment over time, such as $10,000 a month for ten months.Amy explains that dollar-cost averaging helps mitigate risk by buying more shares when prices are low and fewer when prices are high, thereby balancing the overall cost. This strategy is particularly useful for those wary of market volatility. On the other hand, lump sum investing can yield higher returns as it gets the money working in the market immediately, a point backed by research from Vanguard which shows that lump sum investing outperforms DCA 68% of the time over one-year and ten-year periods.We discuss why an investor might choose one strategy over the other. Lump sum investing offers simplicity and higher potential returns but comes with the risk of market downturns right after the investment. Dollar-cost averaging, while potentially yielding lower returns, reduces this risk and provides psychological comfort, preventing panic in the face of market drops.Jag and his wife employ both strategies. She invests consistently each month through her 401(k), embodying dollar-cost averaging, while Jag, as a self-employed individual, saves throughout the year and make a lump sum investment into his SEP IRA at year's end.Market conditions also play a significant role in choosing a strategy. In a bull market, lump sum investing tends to perform better as the market is generally rising. During volatile or bear markets, dollar-cost averaging can be advantageous as it allows investors to benefit from lower prices over time.Amy highlights historical performance, noting that lump sum investing generally yields more over a 10-year period, with 66-67% success across various markets like the US, UK, and Australia. However, risk-averse investors, or those who need time to adjust psychologically to seeing their cash reserves drop significantly, might prefer dollar-cost averaging.Practical tips for deciding between these strategies include assessing personal risk tolerance, considering one's financial situation and goals, avoiding market timing, and seeking professional advice. The key takeaway is that there's no absolute right or wrong choice between lump sum investing and dollar-cost averaging. The best decision is the one that aligns with personal comfort and long-term financial objectives.For further advice, listeners can reach out to Amy and her team at Thimbleberry Financial via their website or phone. It's important to remember that investing should always be approached with a long-term focus and in consultation with financial professionals To get in touch with Amy and her team at Thimbleberry Financial, call 503-610-6510 or visit thimbleberryfinancial.com.

Clark is out today, but returns tomorrow in time for Clark Stinks. Back by popular demand is Wes Moss, a fiduciary financial advisor that Clark and Christa have known for years. A recent article from the Wall Street Journal took a shot at two time-honored investment strategies: the 60/40 portfolio and the 4% rule. Will these two financial principles work in the future? CERTIFIED FINANCIAL PLANNER® Wes Moss, a managing partner with Capital Investment Advisors, joins Christa to discuss the purpose of these fundamentals and explains why they still belong on the Mt. Rushmore of finance. 60/40 Portfolio: Segment 1 Ask Wes: Segment 2 4% Rule: Segment 3 Ask Wes: Segment 4 Mentioned on the show: Mistakes Investors Might Make When Following The Herd A Time-Honored Strategy Puts Your Retirement at Risk of Financial Ruin Wes Moss, Capital Investment Advisors What Is a Solo 401(k) and How Does It Work? What Is a SEP IRA and Who Is Eligible? What Is a SIMPLE IRA and How Does It Work? What A 6% Withdraw Rate Could Mean For Your Retirement How to Start Investing: 10 Steps for Beginners What Is an Annuity, and Why Does Clark Think They Stink? Clark.com resources Episode transcripts Community.Clark.com Clark.com daily money newsletter Consumer Action Center Free Helpline: 636-492-5275 Learn more about your ad choices: megaphone.fm/adchoices Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode of The Retirement Fiduciary, Adam welcomes back Rachel Alley, Realtor and Team Leader for The Millennium Group at Keller Williams Capital Partners in Central Ohio. Rachel revisits the podcast to discuss the significant shifts in the residential real estate market since her last appearance over two years ago. She highlights the challenges buyers and homeowners face today, particularly with interest rates more than doubling, and provides insights into how these changes are reshaping the market. Rachel also explores the topic of refinancing, offering guidance on when it makes sense to refinance a mortgage despite the recent rise in rates. Additionally, she addresses common misconceptions in the market, explaining how a 2-1 Buydown works, and uncovers opportunities that still exist for savvy buyers and sellers. This episode is packed with valuable advice for anyone looking to navigate the complexities of the current real estate landscape.   https://www.columbushousetohome.com/  RachelAlley@KW.com    Libertas Wealth: https://bit.ly/3HpmN2o   Subscribe on Apple Podcasts:  https://apple.co/3NQHjeO   Subscribe on Spotify: https://spoti.fi/3aTTCse   Subscribe on Google Podcasts: https://bit.ly/3QmGmMU   For more VIDEO podcasts like this one: https://bit.ly/42uevkm  For more AUDIO podcasts: https://bit.ly/3PHXHzo   For educational VIDEOS and Stock Market Updates: https://bit.ly/3Tvh4yR For general financial educational ARTICLES: https://bit.ly/3VyJbzP For more Real-Time Updates on the Economy and State of the Markets Follow Adam Koós on Twitter @AdamKoos: https://bit.ly/3tzccwk   Or follow Adam on Instagram @AdamDKoos https://bit.ly/4aoPI3U --- Adam Koos, CFP®, CMT® is a CERTIFIED FINANCIAL PLANNER and one of only 2,600+ Chartered Market Technicians (CMT) worldwide, as well as a Certified Financial Technician (CFTe®) thru the International Federation of Technical Analysts (IFTA). He's been named by Columbus Business First as one of their 20 People to Know in Finance, was a recipient of the Forty Under 40 award, is ranked by Investopedia as one of America's top 100 Most Influential Advisers, and is the winner of the coveted Better Business Bureau Torch Award for Ethical Enterprising. Adam serves his clients as the president and portfolio manager at Libertas Wealth Management Group, Inc., a Fee-Only Registered Investment Advisory (RIA) firm, located in Columbus, Ohio. ******* The audio and video contained herein is intended for those interested in finance, searching for a financial advisor, wealth manager, financial planner, and/or retirement planning. While we are CERTIFIED FINANCIAL PLANNERS (through the College for Financial Planning) and work with clients all over the country, our business is run out of Columbus / Central Ohio. If you are looking for wealth management, financial planning, a financial counselor, wealth advisor, or financial consultant – especially a fee-only, Fiduciary Registered Investment Advisor – we provide money management and financial services for individuals and couples (i.e. – a 401k rollover), as well as business owners (i.e. – 401k, SIMPLE, SEP IRA's, as well as cash balance and other various retirement plans.  

Today, choosing the right phone plan could save you up to $1500 a year. Clark introduces our new Phone Plan Finder tool to help you cut through the confusion and make that choice much easier. Then Clark discusses a great new retirement savings option for part-time and self-employed workers. Also - It's vital to understand your liability risks and insure accordingly, which for many, includes umbrella insurance. New Roth Options: Segment 1 Ask Clark: Segment 2 Liability Insurance: Segment 3 Ask Clark: Segment 4 Mentioned on the show: Phone Plan Finder – Find the Best Plan For You - Clark.com Changes in Retirement Savings Rules to Know Before Year's End - WSJ 6% of Your Paycheck Is Becoming the New Standard for 401(k) Saving The 3 Biggest Mistakes You Can Make With Your 401(k) The 401(k) Rollover Mistake That Costs Retirement Savers Billions - WSJ 401(k) Rollover: How To Roll Over a 401(k) (Clark.com) What Is a SEP IRA and Who Is Eligible? What Is a SIMPLE IRA and How Does It Work? Certificate of Deposit (CD): What Is It, Best Places To Open One What Is a Roth 401(k) and How Does It Work? Rollovers From a 529 Plan to Roth IRA: What to Know Umbrella Insurance Covers Worst-Case Scenarios. There Are Now More of Them. - WSJ What Is Umbrella Insurance and Do You Need It? (Clark.com) 6 Things To Know Before Contacting the National Foundation for Credit Counseling Why Clark Says You Should ‘Ignore' Paze as Trendy New Payment Option Clark.com resources Episode transcripts Community.Clark.com Clark.com daily money newsletter Consumer Action Center Free Helpline: 636-492-5275 Learn more about your ad choices: megaphone.fm/adchoices Learn more about your ad choices. Visit megaphone.fm/adchoices

In today's Banking With Life Q&A, James answers questions such as, "Does leaving Medicare affect my existing life insurance policy?", "Is it harder to get or keep a life insurance policy as a U.S. citizen living abroad?", "Is 65 too late to start Infinite Banking?", and more! As always, we hope you enjoy and thank you for listening!1. 0:22 - Does leaving Medicare affect my existing life insurance policy?2. 1:36 - Does my remaining PUA premium contribute to both death benefit and cash value?3. 4:57 - Using a SEP IRA to pay off a high-interest loan through a policy?4. 12:56 - Is it harder to get or keep a life insurance policy as a U.S. citizen living abroad?5. 19:37 - Is borrowing against a whole life policy at lower rates better than traditional bank loans?6. 25:35 - Is 65 too late to start Infinite Banking?Make sure to like and subscribe to join us weekly on the Banking With Life Podcast!━━━Become a client! ➫ www.bankingwithlife.com/how-to-fast-t…ur-own-bankerBuy Nelson Nash's 6.5 hour Seminar on DVD here: ➫ www.bankingwithlife.com/product/the-5…ecorded-live/ (Call us at (817) 790-0405 or email us at myteam@bankingwithlife.com for a DISCOUNT CODE)Register for our free webinar to learn more about Infinite Banking... ➫ www.bankingwithlife.com/getting-started-webinar━━━Implement the Infinite Banking Concept® with the Infinite Banking Starter Kit...The Starter Kit includes Becoming Your Own Banker by R. Nelson Nash and the Banking With Life DVD by James Neathery.It's the perfect primer for everyone interested in becoming their own banker.Buy your starter kit here: ➫ www.bankingwithlife.com/product/becom…pecial-offer/━━━Learn more about James Neathery here: ➫ bankingwithlife.com━━━Follow us on Facebook: ➳ www.facebook.com/jamescneathery/━━━Disclaimer:All content on this site is for informational purposes only. The content shared is not intended to be a substitute for consultation with the appropriate professional. Opinions expressed herein are solely those of James C. Neathery & Associates, Inc., unless otherwise specifically cited. The data that is presented is believed to be from reliable sources and no representations are made by James C. Neathery & Associates, Inc. as to another party's informational accuracy or completeness. All information or ideas provided should be discussed in detail with your Adviser, Financial Planner, Tax Consultant, Attorney, Investment Adviser or the appropriate professional prior to taking any action.

In this episode of The Retirement Fiduciary, host Adam welcomes Natalie Siston, a dynamic speaker and best-selling author of "Let Her Out: Reclaim Who You've Always Been." Natalie dives into her upbringing in a small Ohio town of just 600 people and how these humble beginnings significantly shaped her career trajectory. She explains the pivotal role this close-knit community played in inspiring her to establish her coaching business, "Small Town Leadership," which focuses on harnessing the values and lessons from small-town life to achieve professional success. Natalie also delves into her strategies for staying motivated during challenging times, emphasizing the impact of coaching on enhancing her business acumen. She provides insights into the Positive Intelligence program, detailing how it operates and the benefits it offers. The episode concludes with Natalie discussing her recent book engagements and sharing uplifting stories from her readers that have inspired her along the way. This conversation is a treasure trove of wisdom for anyone looking to draw strength from their roots and leverage it for personal and professional growth.   https://smalltownleadership.com/ https://www.amazon.com/Let-Her-Out-Reclaim-Always/dp/1950710912    Libertas Wealth: https://bit.ly/3HpmN2o   Subscribe on Apple Podcasts:  https://apple.co/3NQHjeO   Subscribe on Spotify: https://spoti.fi/3aTTCse   Subscribe on Google Podcasts: https://bit.ly/3QmGmMU   For more VIDEO podcasts like this one: https://bit.ly/42uevkm  For more AUDIO podcasts: https://bit.ly/3PHXHzo   For educational VIDEOS and Stock Market Updates: https://bit.ly/3Tvh4yR For general financial educational ARTICLES: https://bit.ly/3VyJbzP For more Real-Time Updates on the Economy and State of the Markets Follow Adam Koós on Twitter @AdamKoos: https://bit.ly/3tzccwk   Or follow Adam on Instagram @AdamDKoos https://bit.ly/4aoPI3U --- Adam Koos, CFP®, CMT® is a CERTIFIED FINANCIAL PLANNER and one of only 2,600+ Chartered Market Technicians (CMT) worldwide, as well as a Certified Financial Technician (CFTe®) thru the International Federation of Technical Analysts (IFTA). He's been named by Columbus Business First as one of their 20 People to Know in Finance, was a recipient of the Forty Under 40 award, is ranked by Investopedia as one of America's top 100 Most Influential Advisers, and is the winner of the coveted Better Business Bureau Torch Award for Ethical Enterprising. Adam serves his clients as the president and portfolio manager at Libertas Wealth Management Group, Inc., a Fee-Only Registered Investment Advisory (RIA) firm, located in Columbus, Ohio. ******* The audio and video contained herein is intended for those interested in finance, searching for a financial advisor, wealth manager, financial planner, and/or retirement planning. While we are CERTIFIED FINANCIAL PLANNERS (through the College for Financial Planning) and work with clients all over the country, our business is run out of Columbus / Central Ohio. If you are looking for wealth management, financial planning, a financial counselor, wealth advisor, or financial consultant – especially a fee-only, Fiduciary Registered Investment Advisor – we provide money management and financial services for individuals and couples (i.e. – a 401k rollover), as well as business owners (i.e. – 401k, SIMPLE, SEP IRA's, as well as cash balance and other various retirement plans.  

New statistics showing average 401K balances by generation reveal a trouble spot. Clark focuses on Gen X. Also, if you or someone you know does contract work full time or as a side hustle, Clark has important advice about taxes. Gen X Retirement: Segment 1 Ask Clark: Segment 2 1099 Tax Traps: Segment 3 Ask Clark: Segment 4 Mentioned on the show: The Average 401(k) Balance by Age Axios: Gen X savings gap    7 Best Ways to Save for Retirement in Your 50s 30 Easy Side Hustle Ideas 7 Things To Know Before You Use Zelle 6 Steps To Eliminate Credit Card Debt in 3 Years or Less Consumer Cellular Review: 5 Things To Know Before You Sign Up Lifeline Support for Affordable Communications 1099 Income: Why Prepaying Your Taxes Is More Important Than Ever if You Have a Side Hustle Midyear Tax Planning Strategies: Five Things to Do Now Here's Your Estimated 2024 Tax Refund Schedule What Is a SEP IRA and Who Is Eligible? When Should You Get an Accountant To Do Your Taxes? Clark.com resources Episode transcripts Community.Clark.com Clark.com daily money newsletter Consumer Action Center Free Helpline: 636-492-5275 Learn more about your ad choices: megaphone.fm/adchoices Learn more about your ad choices. Visit megaphone.fm/adchoices

Many therapists struggle with the complexities of managing their private practice, especially when it comes to financial planning, but understanding these elements is essential.Enter Ryan DeRousseau, a CERTIFIED FINANCIAL PLANNER™ specializing in the unique needs of therapists and small business owners. In this Office Hours episode, host Michael Fulwiler jumps into key topics with Ryan, from the benefits of solo 401(k)s and SEP IRAs to the importance of building a support team of professionals. They also discuss common financial pitfalls therapists face and practical strategies for mitigating them. Plus, Ryan covers investment frameworks, types of retirement accounts, and how to incorporate retirement savings as a fixed expense within your budget.In the conversation, they discuss:The benefits and differences between various retirement accounts such as solo 401(k)s, SEP IRAs, and Roth IRAs, and how they can reduce your overall tax billThe importance of having a professional team, including accountants and certified financial planners, to support the financial health of therapists and small business ownersThe significance of starting retirement savings early to avoid common pitfalls such as unpredictable income and the risk of working in retirement due to lack of fundsResources:The Everything Guide to Investing in Crypto Currency: https://www.amazon.com/Everything-Guide-Investing-Cryptocurrency-Everything%C2%AE-ebook/dp/B07GNTLHZN/Learn how to turn income into wealth: https://thinkingcapfinancial.com/selfemploymentincometowealth/How to save for retirement as a therapist: https://www.joinheard.com/articles/how-to-save-for-retirement-as-a-therapistThe complete guide to financial planning for therapists: https://www.joinheard.com/articles/the-complete-guide-to-financial-planning-for-therapistsWebinar: Financial planning for therapists: https://www.joinheard.com/events/financial-planning-for-therapists-with-ryan-derousseauConnect with the guest:Ryan on Linkedin: https://www.linkedin.com/in/ryanderousseau/Ryan's website: https://www.ryanderousseau.com/Thinking Cap Financial: https://thinkingcapfinancial.com/ryan-derousseau/Connect with Michael and Heard:Michael's LinkedIn: https://www.linkedin.com/in/michaelfulwiler/Newsletter: https://www.joinheard.com/newsletter Book a free consult: https://www.joinheard.com/welcome-form Jump into the conversation:[00:00] Introduction to Heard Business School with guest, Ryan Derousseau[01:54] What a CFP is and their role[03:50] The importance of a CPA or CFP when it comes to owning a business[05:19] Ryan's business model and how he works with clients[06:57] Common financial challenges Ryan see's when working with therapists[09:09] Why therapists need to save for retirement[13:37] The skull, the brain, and the neurons when it comes to investing[15:54] How a 401K works[20:03] What a Roth 401K is and how the Roth is different[22:38] What the SEP IRA is[26:29] The range of risk when it comes to investing in retirement[30:30] The issue of taking money out of retirement early[34:01] The difference between a Simple IRA and Traditional IRA[37:15] All about Capital Gains[37:52] The most powerful tool in retirement tax savings[40:52] Common mistakes Ryan see's therapists make[42:48] The impact of compound interest[44:26] Other common forms of investing Ryan teaches therapists[46:06] How Ryan how helps clients navigate this process of investing into their business[48:23] The difference between income and wealth[51:27] Ryan's free ebook about turning income into wealth[52:26] ClosingThis episode is to be used for informational purposes only and does not constitute legal, business, or tax advice. Each person should consult their own attorney, business advisor, or tax advisor with respect to matters referenced in this episode.

Welcome to the Directed IRA Podcast! This is Matt Sorenson, joined by the insatiable Marc J. Koehler. In this episode, we dive into a hot topic: Solo 401(k) vs. SEP IRA. Are you self-employed and wondering which retirement plan suits you best? We break down the differences, benefits, and unique scenarios for both options.Join us as we explore:- The origins and benefits of the SEP IRA.- Why the Solo 401(k) is often considered the superior choice for self-employed individuals.- Strategies for maximizing your contributions and making the most out of these plans.- How to navigate the nuances if you have part-time employees or plan to hire soon.Whether you're a seasoned entrepreneur or just starting your self-employment journey, this episode is packed with valuable insights to help you make informed decisions about your retirement planning.Tune in and discover which plan could be the game-changer for your financial future!Learn how to take control of your retirement - https://directedira.com/Self-directed IRA Podcast - https://matsorensen.com/podcast/Shop my products - https://shop.matsorensen.com/ Blog & Articles - https://matsorensen.com/blog/Ask Mat: https://matsorensen.com/ask-matConnect with Mat online:Instagram: https://www.instagram.com/matsorensen/Facebook: https://www.facebook.com/mat.sorensen.1LinkedIn: https://www.linkedin.com/in/matsorensen/TikTok: https://www.tiktok.com/@sorensenmat YouTube: https://www.youtube.com/@MatSorensenWebsites:https://directedira.comhttps://matsorensen.comhttps://kkoslawyers.comhttps://mainstreetbusiness.com...

  In this quick episode Adam demystifies the strategy of tax-loss harvesting and its benefits for investors. Adam explains how this technique allows you to turn investment losses into financial gains by offsetting capital gains with capital losses, reducing your overall tax liability. Adam discusses how to avoid paying taxes come tax season by trimming investments you own that have unrealized losses to wash out gains from earlier in the year. He also covers when it makes sense to utilize tax-loss harvesting, addressing some of the main complaints about the practice and offering strategies to overcome those downfalls. This episode is a must-listen for investors looking to optimize their tax strategy and make the most of their investments, even in a down market.   Libertas Wealth: https://bit.ly/3HpmN2o   Subscribe on Apple Podcasts:  https://apple.co/3NQHjeO   Subscribe on Spotify: https://spoti.fi/3aTTCse   Subscribe on Google Podcasts: https://bit.ly/3QmGmMU   For more VIDEO podcasts like this one: https://bit.ly/42uevkm  For more AUDIO podcasts: https://bit.ly/3PHXHzo   For educational VIDEOS and Stock Market Updates: https://bit.ly/3Tvh4yR For general financial educational ARTICLES: https://bit.ly/3VyJbzP For more Real-Time Updates on the Economy and State of the Markets Follow Adam Koós on Twitter @AdamKoos: https://bit.ly/3tzccwk   Or follow Adam on Instagram @AdamDKoos https://bit.ly/4aoPI3U --- Adam Koos, CFP®, CMT® is a CERTIFIED FINANCIAL PLANNER and one of only 2,600+ Chartered Market Technicians (CMT) worldwide, as well as a Certified Financial Technician (CFTe®) thru the International Federation of Technical Analysts (IFTA). He's been named by Columbus Business First as one of their 20 People to Know in Finance, was a recipient of the Forty Under 40 award, is ranked by Investopedia as one of America's top 100 Most Influential Advisers, and is the winner of the coveted Better Business Bureau Torch Award for Ethical Enterprising. Adam serves his clients as the president and portfolio manager at Libertas Wealth Management Group, Inc., a Fee-Only Registered Investment Advisory (RIA) firm, located in Columbus, Ohio. ******* The audio and video contained herein is intended for those interested in finance, searching for a financial advisor, wealth manager, financial planner, and/or retirement planning. While we are CERTIFIED FINANCIAL PLANNERS (through the College for Financial Planning) and work with clients all over the country, our business is run out of Columbus / Central Ohio. If you are looking for wealth management, financial planning, a financial counselor, wealth advisor, or financial consultant – especially a fee-only, Fiduciary Registered Investment Advisor – we provide money management and financial services for individuals and couples (i.e. – a 401k rollover), as well as business owners (i.e. – 401k, SIMPLE, SEP IRA's, as well as cash balance and other various retirement plans.

Self employment retirement accounts are one of the best tax planning tools out there. The two main choices to pick from are Solo 401(k)s and SEP IRAs. Both can be good in the right situation. IN this episode, we break down: - what each one is - how it works - contribution limits - which we prefer

  In this quick episode of The Retirement Fiduciary, titled "Investing in Election Years: Trends, Realities, and Seasonal Insights," Adam Koos provides a comprehensive look at how election cycles impact market trends. Adam discusses the importance of not getting swept up in the political excitement and focuses on making informed investment decisions. He analyzes historical market data to highlight common trends and offers practical advice for navigating the unique challenges and opportunities that arise during election years. Adam also dives into seasonality stats, examining how different election scenarios can influence the market. He introduces the concept of "Christmas in July" for investors, focusing on the NASDAQ's 12-day mid-year rally. By breaking down these mid-year jumps, Adam explains their significance and how investors can leverage these patterns. This episode is packed with valuable insights for those looking to strategically invest during election years and capitalize on seasonal market trends.   Libertas Wealth: https://bit.ly/3HpmN2o   Subscribe on Apple Podcasts:  https://apple.co/3NQHjeO   Subscribe on Spotify: https://spoti.fi/3aTTCse   Subscribe on Google Podcasts: https://bit.ly/3QmGmMU   For more VIDEO podcasts like this one: https://bit.ly/42uevkm  For more AUDIO podcasts: https://bit.ly/3PHXHzo   For educational VIDEOS and Stock Market Updates: https://bit.ly/3Tvh4yR For general financial educational ARTICLES: https://bit.ly/3VyJbzP For more Real-Time Updates on the Economy and State of the Markets Follow Adam Koós on Twitter @AdamKoos: https://bit.ly/3tzccwk   Or follow Adam on Instagram @AdamDKoos https://bit.ly/4aoPI3U --- Adam Koos, CFP®, CMT® is a CERTIFIED FINANCIAL PLANNER and one of only 2,600+ Chartered Market Technicians (CMT) worldwide, as well as a Certified Financial Technician (CFTe®) thru the International Federation of Technical Analysts (IFTA). He's been named by Columbus Business First as one of their 20 People to Know in Finance, was a recipient of the Forty Under 40 award, is ranked by Investopedia as one of America's top 100 Most Influential Advisers, and is the winner of the coveted Better Business Bureau Torch Award for Ethical Enterprising. Adam serves his clients as the president and portfolio manager at Libertas Wealth Management Group, Inc., a Fee-Only Registered Investment Advisory (RIA) firm, located in Columbus, Ohio. ******* The audio and video contained herein is intended for those interested in finance, searching for a financial advisor, wealth manager, financial planner, and/or retirement planning. While we are CERTIFIED FINANCIAL PLANNERS (through the College for Financial Planning) and work with clients all over the country, our business is run out of Columbus / Central Ohio. If you are looking for wealth management, financial planning, a financial counselor, wealth advisor, or financial consultant – especially a fee-only, Fiduciary Registered Investment Advisor – we provide money management and financial services for individuals and couples (i.e. – a 401k rollover), as well as business owners (i.e. – 401k, SIMPLE, SEP IRA's, as well as cash balance and other various retirement plan

Mailbag Questions: 1)         “I'm a small business owner, and have a SEP-IRA that I'd contributed to annually until a few years ago.  Then things got tight during COVID and I took a break from making contributions.  Now business is turning around again.  I've been watching the bitcoin ETFs and am wondering if this is a good investment once I start putting money into my plan again.”  

Find the secrets to optimizing your retirement and investment strategies with our latest episode! Discover why solo 401(k) might outshine SEP IRAs for self-employed physicians, especially if backdoor Roth conversions are on your radar. We'll also guide you through the critical decision-making process around contributing to 457(B) plans, dissecting the key differences between governmental and non-governmental options and the potential risks associated with each.Our conversation doesn't stop there. Learn from real-life scenarios about the pitfalls of non-governmental 457(B) plans and explore smart alternatives like brokerage accounts. With insights from Chelsea Jones, our Certified Financial Planner and Retirement Planning Specialist, we delve into the advantages of cash balance plans for both older and younger doctors. Whether you're nearing retirement or just starting out, this episode is packed with expert advice to help you navigate your financial future with confidence. Don't miss this chance to get ahead on your retirement planning!Key Takeaways:1. Solo 401(k) vs. SEP IRA:Recommendation: Solo 401(k) is generally better than SEP IRA for self-employed physicians, especially for those considering backdoor Roth conversions.Reason: Solo 401(K) allow for higher contribution limits and do not block the backdoor Roth strategy, unlike SEP IRAs.2. Governmental vs. Non-Governmental 457(B) Plans:Governmental 457(B) Plans: Highly recommended due to their tax advantages and flexibility.Non-Governmental 457(B) Plans: Generally advised against due to risks of forfeiture and limited flexibility. Instead, consider using brokerage accounts for additional savings.3. Pitfalls of Non-Governmental 457(B) Plans:Risk of Forfeiture: Your money could be at risk if the company offering the plan goes bankrupt.Tax Implications: Upon leaving the job, the distribution could lead to a high tax burden if not managed properly.4. Cash Balance Plans:For Older Doctors Nearing Retirement:Advantages: Allows significant pre-tax contributions and potential tax savings upon withdrawal.Strategy: Can offer a guaranteed return, typically around 4%, making it a great option for those close to retirement.For Younger Doctors:Considerations: Weigh the benefits against those of a brokerage account. Factors such as time horizon, rate of return, and tax implications are crucial.Decision Point: Around age 40, the decision to opt into a cash balance plan becomes more nuanced.5. Rollover IRA vs. Backdoor Roth:Managing Rollover IRAs: A small balance can be converted to open up the possibility for backdoor Roth contributions.Alternative Strategy: Consolidate rollover IRAs into an active 401(K) or 403(B) to facilitate backdoor Roth contributions without immediate tax implications.Transcript Samples From Key Chapters:Chapter 'Retirement and Investment Planning Advice:Discussion on the pros and cons of SEP IRA vs. solo 401(k) for self-employed physicians.Examination of governmental vs. non-governmental 457(B) plans and their associated risks.Chapter 'Rollover IRA Versus Backdoor Roth:Real-life scenarios illustrating the challenges with non-governmental 457(B) plans.Strategies for managing rollover IRAs to enable backdoor Roth contributions.Chapter 'Optimizing Cash Balance Plan Contributions:Detailed explanation of cash balance plans, their guaranteed return rates, and contribution limits based on age.Analysis of the benefits for older doctors nearing retirement and strategic considerations for younger doctors.ARE YOU GETTING ALL THE TAX BREAKS YOU REALLY DESERVE?To...

In this episode of The Retirement Fiduciary, Adam Koos discusses the complexities of the new trading rules that have recently come into effect. Adam breaks down these rules, which are far from self-explanatory, offering clarity and guidance for investors navigating this updated landscape. He dives into changes to transaction dates, explaining what these adjustments mean for investors and how they will impact trading strategies moving forward.   Adam also provides a high-level overview of the significant changes in stock trading, ETF trading, and bond trading. Through a series of "Did You Know" facts, he outlines key terminology and simplifies the new regulations. Listeners will gain a clear understanding of how these changes affect their investments and what steps they can take to adapt. This episode is essential for anyone looking to stay informed and make sound decisions in the evolving world of trading.   Libertas Wealth: https://bit.ly/3HpmN2o   Subscribe on Apple Podcasts:  https://apple.co/3NQHjeO   Subscribe on Spotify: https://spoti.fi/3aTTCse   Subscribe on Google Podcasts: https://bit.ly/3QmGmMU   For more VIDEO podcasts like this one: https://bit.ly/42uevkm  For more AUDIO podcasts: https://bit.ly/3PHXHzo   For educational VIDEOS and Stock Market Updates: https://bit.ly/3Tvh4yR For general financial educational ARTICLES: https://bit.ly/3VyJbzP For more Real-Time Updates on the Economy and State of the Markets Follow Adam Koós on Twitter @AdamKoos: https://bit.ly/3tzccwk   Or follow Adam on Instagram @AdamDKoos https://bit.ly/4aoPI3U --- Adam Koos, CFP®, CMT® is a CERTIFIED FINANCIAL PLANNER and one of only 2,600+ Chartered Market Technicians (CMT) worldwide, as well as a Certified Financial Technician (CFTe®) thru the International Federation of Technical Analysts (IFTA). He's been named by Columbus Business First as one of their 20 People to Know in Finance, was a recipient of the Forty Under 40 award, is ranked by Investopedia as one of America's top 100 Most Influential Advisers, and is the winner of the coveted Better Business Bureau Torch Award for Ethical Enterprising. Adam serves his clients as the president and portfolio manager at Libertas Wealth Management Group, Inc., a Fee-Only Registered Investment Advisory (RIA) firm, located in Columbus, Ohio. ******* The audio and video contained herein is intended for those interested in finance, searching for a financial advisor, wealth manager, financial planner, and/or retirement planning. While we are CERTIFIED FINANCIAL PLANNERS (through the College for Financial Planning) and work with clients all over the country, our business is run out of Columbus / Central Ohio. If you are looking for wealth management, financial planning, a financial counselor, wealth advisor, or financial consultant – especially a fee-only, Fiduciary Registered Investment Advisor – we provide money management and financial services for individuals and couples (i.e. – a 401k rollover), as well as business owners (i.e. – 401k, SIMPLE, SEP IRA's, as well as cash balance and other various retirement plan

In part two of "Exposing the Wolves of Wall Street: Unmasking the Dark Side of Investing," financial expert Adam Koos shares essential tips for safeguarding your investments. This episode covers the dangers of insurance agents posing as wealth managers, revealing how their advice may prioritize their profits over your financial goals. Adam also discusses the pitfalls of financial advisors who buy TV time or "advertorials," explaining how these paid segments can mislead viewers into thinking they're receiving impartial advice. Additionally, Adam highlights the importance of scrutinizing financial planner designations, offering guidance on which credentials to be wary of and why. He emphasizes that finding a true fiduciary advisor is crucial, as they are legally obligated to act in your best interest. Tune in to this episode for actionable advice on choosing a reliable financial advisor and protecting your financial future. Don't miss out on these valuable insights—subscribe and hit the notification bell to stay updated!       Libertas Wealth: https://bit.ly/3HpmN2o   Subscribe on Apple Podcasts:  https://apple.co/3NQHjeO   Subscribe on Spotify: https://spoti.fi/3aTTCse   Subscribe on Google Podcasts: https://bit.ly/3QmGmMU   For more VIDEO podcasts like this one: https://bit.ly/42uevkm  For more AUDIO podcasts: https://bit.ly/3PHXHzo   For educational VIDEOS and Stock Market Updates: https://bit.ly/3Tvh4yR For general financial educational ARTICLES: https://bit.ly/3VyJbzP For more Real-Time Updates on the Economy and State of the Markets Follow Adam Koós on Twitter @AdamKoos: https://bit.ly/3tzccwk   Or follow Adam on Instagram @AdamDKoos https://bit.ly/4aoPI3U --- Adam Koos, CFP®, CMT® is a CERTIFIED FINANCIAL PLANNER and one of only 2,600+ Chartered Market Technicians (CMT) worldwide, as well as a Certified Financial Technician (CFTe®) thru the International Federation of Technical Analysts (IFTA). He's been named by Columbus Business First as one of their 20 People to Know in Finance, was a recipient of the Forty Under 40 award, is ranked by Investopedia as one of America's top 100 Most Influential Advisers, and is the winner of the coveted Better Business Bureau Torch Award for Ethical Enterprising. Adam serves his clients as the president and portfolio manager at Libertas Wealth Management Group, Inc., a Fee-Only Registered Investment Advisory (RIA) firm, located in Columbus, Ohio. ******* The audio and video contained herein is intended for those interested in finance, searching for a financial advisor, wealth manager, financial planner, and/or retirement planning. While we are CERTIFIED FINANCIAL PLANNERS (through the College for Financial Planning) and work with clients all over the country, our business is run out of Columbus / Central Ohio. If you are looking for wealth management, financial planning, a financial counselor, wealth advisor, or financial consultant – especially a fee-only, Fiduciary Registered Investment Advisor – we provide money management and financial services for individuals and couples (i.e. – a 401k rollover), as well as business owners (i.e. – 401k, SIMPLE, SEP IRA's, as well as cash balance and other various retirement plan

Welcome to the Alfalfa Podcast

In this episode of The Retirement Fiduciary, host Adam Koos takes listeners on a deep dive into the often murky world of financial planning and investing. Adam sheds light on some of the most misunderstood aspects of working with financial and investment "specialists" and how easily unsuspecting investors can fall prey to deceptive practices. He provides a candid discussion on the pitfalls of commission-based services, the dangers of "churning" and "reverse churning", and the risk of being sold inappropriate insurance policies. Adam also exposes some of the more sinister tactics used by unscrupulous advisors, including creative Ponzi schemes and the push for proprietary investments or insurance products. By demystifying these concepts, Adam aims to equip the audience with the knowledge to recognize and avoid these common traps. This episode is a must-listen for anyone looking to protect their financial future and ensure they are working with a truly fiduciary advisor who has their best interests at heart.       Libertas Wealth: https://bit.ly/3HpmN2o   Subscribe on Apple Podcasts:  https://apple.co/3NQHjeO   Subscribe on Spotify: https://spoti.fi/3aTTCse   Subscribe on Google Podcasts: https://bit.ly/3QmGmMU   For more VIDEO podcasts like this one: https://bit.ly/42uevkm  For more AUDIO podcasts: https://bit.ly/3PHXHzo   For educational VIDEOS and Stock Market Updates: https://bit.ly/3Tvh4yR For general financial educational ARTICLES: https://bit.ly/3VyJbzP For more Real-Time Updates on the Economy and State of the Markets Follow Adam Koós on Twitter @AdamKoos: https://bit.ly/3tzccwk   Or follow Adam on Instagram @AdamDKoos https://bit.ly/4aoPI3U --- Adam Koos, CFP®, CMT® is a CERTIFIED FINANCIAL PLANNER and one of only 2,600+ Chartered Market Technicians (CMT) worldwide, as well as a Certified Financial Technician (CFTe®) thru the International Federation of Technical Analysts (IFTA). He's been named by Columbus Business First as one of their 20 People to Know in Finance, was a recipient of the Forty Under 40 award, is ranked by Investopedia as one of America's top 100 Most Influential Advisers, and is the winner of the coveted Better Business Bureau Torch Award for Ethical Enterprising. Adam serves his clients as the president and portfolio manager at Libertas Wealth Management Group, Inc., a Fee-Only Registered Investment Advisory (RIA) firm, located in Columbus, Ohio. ******* The audio and video contained herein is intended for those interested in finance, searching for a financial advisor, wealth manager, financial planner, and/or retirement planning. While we are CERTIFIED FINANCIAL PLANNERS (through the College for Financial Planning) and work with clients all over the country, our business is run out of Columbus / Central Ohio. If you are looking for wealth management, financial planning, a financial counselor, wealth advisor, or financial consultant – especially a fee-only, Fiduciary Registered Investment Advisor – we provide money management and financial services for individuals and couples (i.e. – a 401k rollover), as well as business owners (i.e. – 401k, SIMPLE, SEP IRA's, as well as cash balance and other various retirement plan

SEP IRAs and Solo 401(k) both offer tax benefits and generous contribution limits. But they also have unique features that are different.

I'm Amanda Hanquist, the Fit Financial. On today's episode I am sharing with you a podcast recording from my good friend Clarita Escalante. She interviewed me about how we as women can change our money story, it was so good I had to bring it over to our platform. In this episode we talk about emotional money triggers, creating consistency, what really is wealth and finally the steps you can take to start your money journey today, I hope you enjoy! Entrepreneurs have a missing link with the education of money We can't “meditate” or health coach our way to financial security Amanda's Story and path to The Fit Financial The coloration of health and wealth We can't fight inner peace if we have this inward battle with finance My “mess becoming my message”- the grief process and trauma triggering poor relationship with money being a careless entrepreneur, to learning the financial principles The moment of courage to change Making a plan, Paying off the debt The entitlement mentality causing bad habits again My Entire year of no personal shopping Uncovering triggers of what's causing the “want” No amount of money will ever fill the void that needs to be filled Putting up guardrails- ex. Unfollowing influencers, unsubscribing from email lists and accountability for your goals The constant culture of newness, not enoughness and fast fashion and anxiety from over-consumption What is wealth Wealth can sound unrelatable and intimidating- wealth has a different meaning for everyone, for me it means financial independence Similar to health and wellness, Consistency is key when it comes to generating long term wealth Steps to Start your wealth journey, the financial order of operations Laying the foundation Deciding that you're going to change, having the courage to say “today is the day” Lay it all out there- the point of understanding of where you're at and what all you have Creating your goal – knowing how much money you need to make; do you need to budget and just get in check, or do you need to make more money? Emergency Savings- 3-6 months of bills in savings Tackle high interest debt- any interest in the double digits Avalanche or Snowball Qualified savings Do you need a Roth IRA or a traditional Entrepreneurs do we need to look at Solo 401k's SEP IRA's? Tax savings strategies Non-qualified savings Cash is king and we don't want all of our money wrapped in red tape Other investment opportunities Future Dreams Paying for kids' education, second home, second vehicle, fun spending, more speculative investing, luxury items Paying off high debt Student loans or low interest long term mortgages What impact do I want to make For women to experience the freedom that comes from a positive relationship with money Radical honesty and courage to start Thank you for listening to The Fit Financial. If you liked this episode, please be sure to subscribe and leave a review. Find me on Instagram at the fit financial or if you'd like to know how you can work with us directly, Visit us at fitwealthadvisors.com IG: Amanda @thefitfinancial_ IG: Clarita @the_clarita_escelante The fit financial is brought to you by Fit wealth advisors. Fit Wealth Advisors is an investment adviser registered under the Investment Advisers Act of 1940. Registration as an investment adviser does not imply any level of skill or training. This presentation has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation.

Friday - Clark Stinks day! Christa shares Clark Stinks posts with Clark. Submit yours at Clark.com/ClarkStinks. Also in this episode, how loyalty programs affect price decision making and may have you “competing with yourself”. Clark discusses how these programs work across many industries, and what to keep in mind to get the most from them.  Clark Stinks: Segments 1 & 2 Loyalty Programs: Segment 3 Ask Clark: Segment 4 Mentioned on the show: How to Start Investing: 10 Steps for Beginners Should We Worry About the National Debt and Budget Deficits? Will Social Security Run Out? What Is a SEP IRA and Who Is Eligible? Clark Deals - Hotels When Is the Best Time To Collect Social Security?  /  Social Security When? 18 Ways To Save at Walmart  /  Walmart+ Membership Program: 4 Things To Know Loyalty programs may limit competition, and they could be pushing prices up for everyone — The Conversation Thank you for listening today, Clarkies! If you want to be part of our “Clarkie” segment, call 404-981-2071 to leave a comment or story. We may play it during a future episode! Clark.com resources Episode transcripts Community.Clark.com Clark.com daily money newsletter Consumer Action Center Free Helpline: 636-492-5275 Learn more about your ad choices: megaphone.fm/adchoices Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome back to Passive Income Pilots! In this episode we delve into essential tax strategies tailored specifically for pilots. With the expertise of Toby Mathis from Anderson Advisors, we explore five key ways you can reduce your tax liability effectively. Toby brings his depth of tax knowledge directly to our pilot audience, discussing everything from maximizing deductions to strategic asset management. Additionally, we'll cover an intriguing opportunity for pilots interested in aircraft ownership—how purchasing an airplane can not only serve personal and professional needs but also offer significant tax advantages. If you're looking to navigate the complexities of taxes with ease and make informed decisions that could save you thousands, this episode is your must-listen guide.Timestamped Show Notes:(00:00) - Introduction to the episode with hosts Tait and Ryan.(01:29) - Introduction of the guest, Toby Mathis, and discussion on tax and legal workshops.(04:02) - Explanation of tax brackets and progressive tax systems.(05:13) - Discussion on aircraft ownership, benefits, and deductions related to taxes.(10:24) - Detailed analysis of leasing aircraft and tax implications.(17:15) - Strategies for pilots to utilize aircraft ownership for tax advantages.(23:46) - Overview of various tax reduction strategies and charitable giving.(28:36) - Introduction to tax and legal workshops offered by Toby's firm.(32:02) - Five top tax tips for pilots including HSA benefits.(44:58) - Discussion on solo 401k benefits and other tax-deferred accounts.(53:15) - Conclusion and thanks to guest Toby Mathis.Resources Mentioned:Tax & Asset Protection WorkshopDallas Conference June 27-29Remember to subscribe for more insights at PassiveIncomePilots.com!Join our growing community on FacebookCheck us out on Instagram @PassiveIncomePilotsFollow us on X @IncomePilotsGet our updates on LinkedInHave questions or want to discuss this episode? Contact us at ask@passiveincomepilots.com See you on the next one!Legal DisclaimerThe content of this podcast is provided solely for educational and informational purposes. The views and opinions expressed are those of the hosts, Tait Duryea and Ryan Gibson, and do not reflect those of any organization they are associated with, including Turbine Capital or Spartan Investment Group. The opinions of our guests are their own and should not be construed as financial advice. This podcast does not offer tax, legal, or investment advice. Listeners are advised to consult with their own legal or financial counsel and to conduct their own due diligence before making any financial decisions. The hosts, Tait Duryea and Ryan Gibson, do not necessarily endorse the views of the guests featured on the podcast, nor have the guests been comprehensively vetted by the hosts. Under no circumstances should any material presented in this podcast be used or considered as an offer to sell, or a solicitation of any offer to buy, an interest in any investment. Any potential offer or solicitation will be made exclusively through a Confidential Private Offering Memorandum related to the specific investment. Access to detailed information about the investments discussed is restricted to individuals who qualify as accredited investors under the Securities Act of 1933, as amended. Listeners are responsible for their own investment decisions and are encouraged to seek professional advice before investing.

Are you a solo entrepreneur puzzled by the myriad of retirement planning options?Mike Jesowshek welcomes back Matt Ruttenberg to discuss retirement plan options for solo entrepreneurs without employees. They highlight various plans like IRAs, SIMPLE IRAs, SEP IRAs, and solo 401(k)s, emphasizing the importance of starting with the desired savings amount to determine the most suitable plan. The episode covers the contribution limits, the benefits of each plan type, and the financial implications of choosing one plan over another, particularly in terms of tax deductions and maximizing retirement savings.Discover how choosing the right plan can maximize your savings and secure your financial future by tuning in![00:00 - 05:48] Exploring Basic Retirement Plan Options, SEP IRAs, and Solo 401(k)sMike introduces the topic of retirement plans for solo entrepreneurs.Matt discusses simple retirement options like individual IRAs and SIMPLE IRAs, highlighting their benefits and contribution limits.He elaborates on the higher contribution limits of SEP IRAs and the advantages of solo 401(k)s, including their structure and potential for higher savings.[05:48 - 15:22] Comparison of SEP IRA and Solo 401(k) Contributions and Decision-Making in Retirement PlanningMatt and Mike share a detailed explanation of how contribution limits are calculated based on business type and income.They discuss the extra benefits of solo 401(k)s, such as catch-up contributions for those over 50.Choosing the right retirement plan based on the amount one wants to save simplifies the decision-making process.[15:22 - 20:05] Closing and Resource MentionDirect Quote:"So you might have a couple hundred dollars of fees, but you are netting a substantial amount more, going into that solo than you are with the SEP IRA." - Matt RuttenbergConnect with Matt Ruttenberg!LinkedIn: https://www.linkedin.com/in/mattruttenberg/ ______Podcast Host: Mike Jesowshek, CPA - Founder and Host of Small Business Tax Savings PodcastJoin TaxElm: https://taxelm.com/IncSight Packages (Full-Service): https://incsight.net/pricing/Book an Initial Consultation (IncSight): https://app.simplymeet.me/o/incsight/sale-------Podcast Website: https://www.TaxSavingsPodcast.comFacebook Group: https://www.facebook.com/groups/taxsavings/YouTube: https://www.youtube.com/@TaxSavings 

In this episode of Unleashed, Ron Harpaz, founder of Lettuce, discusses the importance of an automated tax and accounting system for businesses and that Lettuce is entirely focused on independent consultants. Independent consultants who make over $100,000 per year often overpay their taxes by $10,000 or more. Lettuce is a FinTech software company that helps these professionals incorporate their business into the right S corporation with the IRS, open a business bank account, run bookkeeping, run accounting, predict and file taxes, all done automatically through software. The company offers two levels: Pro (300 dollars a month) and Premium (700 dollars a month). The service includes accounting, bookkeeping, tax preparation, and tax preparation.  Tax Strategies for the Independent Consultants  Ran explains how many independent consultants are often double taxed as sole proprietors due to the IRS's coordination on annual tax returns. He offers an example to demonstrate how this works. Ran also discusses the concept of an S Corp and its implications for tax calculations.  He mentions that Lettuce exists as a software solution that does this daily on every dollar, as income fluctuates throughout the year. This automated solution monitors every payment, calculates and withholds the right amount automatically, and keeps the balance to the IRS constantly close to zero. The S Corp also offers more advanced tax strategies, such as retirement matching, qualified business income deductions, and better healthcare premium payments. Once an S Corp is established, it can unlock all the tax strategies typically available to corporations. The tax system and everything around it are well optimized for corporations, and larger organizations have a finance department, FEMA, and tax experts. While the savings on Social Security and Medicare may be capped, other benefits like retirement and healthcare premium payments open up once an S Corp is established. Using Retirement Plans as a Tax Strategy Ran discusses the advantages of using retirement plans as a tax strategy for individuals, particularly those with limited liability companies (LLCs). They mention that having an SEP IRA or a defined benefit plan can provide tax-free income, but it also comes with higher limits. The speaker emphasizes that this becomes a multivariable optimization problem, as individuals may want to save more through retirement, allocate more to Social Security, optimize for salary distribution, maximize expenses, and consider factors like business use of home and mileage. He suggests that these tax strategies should be solved by software products rather than human efforts. He explains that Lettuce is a replacement for QuickBooks accounting bookkeeping packages. Instead of having multiple software solutions, Lettuce provides a single solution that includes incorporating LLCs, making S corp elections, running books, opening a dedicated bank account, and managing payroll processing. How Lettuce Offers Tax Accounting Solutions  Ran also mentions that Lettuce can handle payroll for individuals who hire employees. They focus on serving businesses of one owner, as they are the essence of the business. The free business bank account is provided by Transpac US Bank, a Texas bank, FDIC insured, and provides the infrastructure for keeping money safe.The company is offering accounting and bookkeeping software that helps with automating quarterly taxes, which are a requirement for people. The software handles complex tasks such as forecasting, withholding the right amount, filing, and payment. It also handles complex transactions like multiple jurisdictions or income from Canada. The company has partnered with a CPA company to serve their specific market segment, offering additional services when needed. This includes offshore investments and rollovers from past investments. The company is also working on rolling out an AI accountant to answer customers' questions 24/7. They are training and fine-tuning the AI engine on specific tax code areas, providing answers as good as human but faster. The AI will be released in the next couple of months, and the company expects to receive positive feedback from users who want guidance and information without having to call a CPA. Timestamps: 03:45 Tax savings for independent consultants 09:39 Tax strategies for small business owners 17:44 Financial management and accounting software for independent professionals   Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.  

During the pandemic, many people decided to buy or adopt a dog. Due to changing circumstances, many former “pandemic puppies”  are now in need of homes, presenting an opportunity for would-be pet owners. Also today, scams have morphed over the decades and exploded with technology. It pays to be savvy to the latest permutations of tech imposter scams. Pandemic Puppies Fill Shelters: Segment 1 Ask Clark: Segment 2 Tech Scams: Segment 3 Ask Clark: Segment 4 Mentioned on the show: Survey: 91% of dog owners have experienced financial stress over the cost of pet ownership - USA Today       Clark.com - Is Pet Insurance Worth It? 10 Things Homeowners Insurance Doesn't Always Cover Discover Free Checking Account - No Fee Cashback Debit The Safer Way To Use Your Debit Card New tech support scammers want your life savings Never move your money to “protect it.” That's a scam What's a verification code and why would someone ask me for it? Will your bank or investment fund stop a transfer to a scammer? Probably not Did you get a call or text about a suspicious purchase on Amazon? It's a scam 16 of the Best High-Yield Online Savings Accounts What Is a SEP IRA and Who Is Eligible? Best Investment Companies for Investors in 2024 Southwest - Transferable Flight Credits Clark.com resources Episode transcripts Community.Clark.com Clark.com daily money newsletter Consumer Action Center Free Helpline: 636-492-5275 Learn more about your ad choices: megaphone.fm/adchoices Learn more about your ad choices. Visit megaphone.fm/adchoices

Friday - Clark Stinks day! Christa shares Clark Stinks posts with Clark. Submit yours at Clark.com/ClarkStinks. Also in this episode, a handful of automakers are selling their customers down the river and it's an inexcusable invasion of privacy that impacts insurance premiums.  Clark Stinks: Segments 1 & 2 Automakers Selling Driving Data: Segment 3 Ask Clark: Segment 4 Mentioned on the show: PenFed Power Cash Rewards Visa Signature® Card Review: Up to 2% Unlimited Cash Back When Should You File a Claim on Your Homeowners Insurance? What Is a SIMPLE IRA and How Does It Work? What Is a SEP IRA and Who Is Eligible? Best Investment Companies for Investors in 2024 What Is a Fiduciary Financial Advisor and Do I Need One? How To Pack a Carry-On the Right Way 4 Things You Should Always Pack in Your Carry-On Should You Allow Your Auto Insurance To Monitor Your Driving? New York Post: Your car is secretly spying on you and driving your insurance rates through the roof: report NYTimes: Automakers Are Sharing Consumers' Driving Behavior With Insurance Companies What Is a C.L.U.E Report and Its Impact on Your Insurance How to Dispute Your C.L.U.E. Report How To Open a Roth IRA How to Buy a New Car in 5 Steps Study: The 10 Best New Cars for the Money Rollovers From a 529 Plan to Roth IRA: What to Know Clark.com resources Episode transcripts Community.Clark.com Clark.com daily money newsletter Consumer Action Center Free Helpline: 636-492-5275 Learn more about your ad choices: megaphone.fm/adchoices Learn more about your ad choices. Visit megaphone.fm/adchoices

 Get my Monthly Newsletter here Today Erica is joined by Sean Mullaney, a Los Angeles-based advice-only financial planner and author of "Solo 401k: The Solopreneur Retirement Account". Sean shares his expertise on the differences between SEP IRAs and Solo 401(k)s, the benefits of each, and why most solopreneurs might favor the latter for their retirement savings.  Some of the questions they discuss are: What is the difference between a SEP IRA and a Solo 401(k)? How can an advice-only financial planner benefit your retirement planning? Can a Solo 401(k) be a better option for solopreneurs than a SEP IRA? Make sure you check out the resources below! The discussion is intended to be for general educational purposes and is not tax, legal, or investment advice for any individual. Erica and the Coaches, Consultants, and Money podcast do not endorse Sean Mullaney, Mullaney Financial & Tax, Inc., and their services.  Important Resources Mentioned: Choose FI podcast | How to Access Your Retirement Accounts Before 59.5  Sean's Book | Solo 401(k): The Solopreneur's Retirement Account (on Amazon) Sean's Favorite Money Books: Millionaire Next Door, Thomas J. Stanley  The Simple Path to Wealth, by JL Collins Ep. 61 - When is an S-Corp a Bad Idea? Ep. 21 - What's an S-Corp and When Should I Become One?   Connect with Sean: Website | https://fitaxguy.com/ YouTube | @seanmulaneyvideos Mullaney Financial | https://www.mullaneyfinancial.com/   Connect with Erica: Instagram  LinkedIn Email List  

What are you paying for home internet? One provider that was low cost has now raised its prices. Clark tells you how to shop around for the best price based on your particular internet needs. Also- there's a segment of the population long ignored when it comes to financial literacy. Clark discusses this gap and how to fix it.  SAVE MORE On Home Internet: Segment 1 Ask Clark: Segment 2 Financial Literacy For Senior Women: Segment 3 Ask Clark: Segment 4 Mentioned on the show: T-Mobile quietly raises Home Internet monthly price to $60 for new customers Internet Archives - Clark Howard UPGRADE - Cash Rewards Elite Card There's a financial literacy gender gap − and older women are eager for education that meets their needs — The Conversation Investing & Retirement Archives - Clark Howard What Is a Roth 401(k) and How Does It Work? How To Open a Roth IRA Target Date Funds: Clark's Favorite Retirement Investment What Is a Solo 401(k) and How Does It Work? What Is a SEP IRA and Who Is Eligible? 3 Simple Ways To Delete Your Google Data Want To Guard Your Privacy Online? Search the Web With DuckDuckGo 13 Steps To Keeping Your Email Safe and Secure 16 of the Best High-Yield Online Savings Accounts What Are Index Funds? / Clark.com SAVINGS TABLE How Much Should You Have Saved for Retirement by Now? Best Investment Companies for Investors in 2024 Clark.com resources Episode transcripts Community.Clark.com Clark.com daily money newsletter Consumer Action Center Free Helpline: 636-492-5275 Learn more about your ad choices: megaphone.fm/adchoices Learn more about your ad choices. Visit megaphone.fm/adchoices

Learn retirement savings strategies tailored for self-employed individuals to secure a financially stable future. How can self-employed individuals effectively save for retirement? What tailored retirement plans should freelancers and small business owners consider? NerdWallet's Sean Pyles and Elizabeth Ayoola discuss the unique challenges of retirement savings for the self-employed and the different retirement plans available to help you understand how to secure your financial future while running your own business. They begin with a discussion of the hurdles of inconsistent income and strategies to manage expenses, with tips and tricks on proactive contribution, the transformative power of compounding interest, and paying oneself a consistent salary. Ayesha Selden, a stock broker, certified financial planner, real estate investor, and art collector,  joins Elizabeth to discuss the intricacies of various retirement accounts for the self-employed. They delve into the benefits of using qualified plans like solo 401(k)s, SEP IRAs, and SIMPLE IRAs, aligning retirement plans with business models, and the strategy of funding retirement through the sale of a business. They also highlight the importance of diversification to mitigate risks, building strong savings habits early on, and the potential of setting a consistent salary for financial stability. In their conversation, the Nerds discuss: retirement savings, self-employed financial planning, retirement plans, retirement strategy, retirement contributions, solo 401(k), SEP IRA, SIMPLE IRA, compounding interest, certified financial planner, financial independence, retirement planning strategies, saving for retirement, business owners, retirement savings options, tax-deferred investments, managing expenses, investment diversification, retirement funding options, self-employment tax, financial management, employee and employer contributions, retirement accounts, consistent salary, fluctuating income, wealth management, retirement savings habits, retirement savings goals, employer matching, retirement savings accounts, retirement nest egg, saving habits, retirement planning advice, self-employment benefits, maximizing retirement savings, investment vessels, financial foresight, and retirement income streams. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com. Like what you hear? Please leave us a review and tell a friend.

Friday - Clark Stinks day! Christa shares Clark Stinks posts with Clark. Submit yours at Clark.com/ClarkStinks. Also today - do you use apps to get points & free items at restaurants? Are there app tricks going on to get us to spend more money? A current lawsuit calls this into question - but the real issue is larger. What to know about app stored payment systems.  Clark Stinks: Segments 1 & 2 Restaurant & Retail In-App Payments: Segment 3 Ask Clark: Segment 4 Mentioned on the show: Clark Howard's Simple Steps To Get Better Customer Service When Is the Best Day and Time To Call Customer Service? Clark's take: Why everyone should have a dash cam Clark Deals - Dashcams What Is Umbrella Insurance and Do You Need It? How to clean a washing machine and how often to do it Travel Archives - Clark Howard / Travel Archives - Clark Deals Ask Clark: What Is a Backdoor Roth IRA? A new complaint claims Starbucks' app traps customers in a cycle of spending 10 Best Restaurant Apps for Fast Food Deals 16 of the Best High-Yield Online Savings Accounts in January 2024 What Is a SEP IRA and Who Is Eligible? What Is a Solo 401(k) and How Does It Work? Clark.com resources Episode transcripts Community.Clark.com Clark.com daily money newsletter Consumer Action Center Free Helpline: 636-492-5275 Learn more about your ad choices: megaphone.fm/adchoices Learn more about your ad choices. Visit megaphone.fm/adchoices

Today is another Friends of WCI episode. Tyler Olson of Olson Consulting joins Dr. Dahle to answer your questions. They talk about paying taxes and if you should use a professional or do them yourself. They discuss medical loans and how taxes work with those. They discuss what to do with an old SEP IRA, if it is ever a good idea to over contribute to a 403(b) and the difference between average cost basis and actual cost basis. Cerebral Tax Advisors: As the new year starts, it's crucial to take a proactive approach towards tax planning to ensure that you're leveraging all available money-saving strategies. Cerebral Tax Advisors, a White Coat Investor-recommended tax firm trusted by physicians nationwide, specializes in court-tested and IRS-approved strategies, helping medical professionals lower both, their personal and business taxes. Their services are flat-rate, focusing on the client's return on investment. Alexis Gallati, founder of Cerebral Tax Advisors, comes from a family of physicians and has over two decades of experience in high-level tax planning strategies and multi-state tax preparation. To schedule a free consultation, visit https://cerebraltaxadvisors.com. The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor is for you! Main Website: https://www.whitecoatinvestor.com  YouTube: https://www.whitecoatinvestor.com/youtube  Student Loan Advice: https://studentloanadvice.com  Facebook: https://www.facebook.com/thewhitecoatinvestor  Twitter: https://twitter.com/WCInvestor  Instagram: https://www.instagram.com/thewhitecoatinvestor  Subreddit: https://www.reddit.com/r/whitecoatinvestor  Online Courses: https://whitecoatinvestor.teachable.com  Newsletter: https://www.whitecoatinvestor.com/free-monthly-newsletter 

#473: Sarah has cash to pay a $8,000 medical bill but she's reluctant to drain her savings. Should she sign up for the hospital's interest-free payment plan? Jennie is an independent consultant but gets paid as a W-2 employee. Without access to a SEP IRA or a 401k plan, is there another option to save for retirement? An anonymous caller is wondering how to run a cost-benefit analysis on pursuing a graduate degree. Brian is getting inundated with spam calls as a real estate investor. Is there a way to stop the madness? Former financial planner Joe Saul-Sehy and I tackle these four questions in today's episode. Enjoy! P.S. Got a question? Leave it at https://affordanything.com/voicemail For more information, visit the show notes at https://affordanything.com/episodes473 Learn more about your ad choices. Visit podcastchoices.com/adchoices