IRA for Self Employed (EVEN BETTER THAN A 401K!)

IRA FOR SELF EMPLOYED // If you’re self-employed, you need to watch this! This is the ultimate self-employed retirement plan.

30 thoughts on “IRA for Self Employed (EVEN BETTER THAN A 401K!)”

  1. Did you know trillions were lost in the 2008 crash. Pensions funds disappeared. That is happening again. People don't realize that wherever you put your money, it is invested in the stock and real estate markets. The worst place to have your money right now is in any retirement account.

  2. I am 55 years old with no passive income and very little set aside for retirement at this point. I have always been curious about the stock market and have witnessed some people who played the game right and retired early because they used the stock market. When I ask them, most said that they invested very little to start with, but their portfolio grew. I do have a significant amount of capital that is required to start up but I have no idea what strategies and direction I need to approach to help me make decent returns.

  3. Good info. Contribution limits as well as income limits for the Roth IRA and tax deductible IRA limits.

  4. Solo 401k accounts allow you to contribute $19,500 dollar for dollar on your net business income PLUS 25% of remaining income for a max of $58,000 as well. (I know this is a few years old) but that’s a lot of savings in self employment tax!

  5. I opened mi LLC company! Do you recommend to open a SEP OR ROTH IRA? I have not job before but my husband yes, he has a Roth IRA,

  6. @investing with rose: so i understand that i should set up a SEP IRA + an individual (or roth) IRA. why both? why not just one? since the limit of 59k is for the bth combined correct? what's the difference between these?

  7. Can you help somebody fill up a “Trust and Custodial Agreement & Standardized Adoption Agreement”?

  8. Thanks for ultimate guide pdf great info! You said E trade was only viable solo 401k option but what about TD Ameritrade's ?

  9. I think in the situation of a self employed person a solo 401(k) has much more advantages than a sep ira. Solo 401k you have option for traditional and roth accnt while sep it is only a traditional. Plus you contribute less into the sep as a solo owner than a 401k. You’ll end up paying more in taxes with a sep than a solo 401k. Pls correct me if I am wrong

  10. Good evening Rose, I have a question for you, I came to the USA a couple of months ago and started working in Uber, so can I open ROTH IRA if I haven't paid my taxes(1099) yet? Thanks in advance

  11. Nice video, well I am new to online investments, I have been practicing using a demo account. I like to prepare for my future, I wanna start up a Roth IRA account. I don't know much about it or which is better. I am scared that I don't know enough to start all by myself. I am willing to try, but I need help with what to do next.

  12. Have a quick question I have a s corp and have 2 full time employees. I’ve maxed out Roth and hsa and I wanna do more but can’t afford to contribute quit yet for employees what should I do? Do I qualify for a sep?

  13. I have an LLC and I’m the sole member of it. I just opened a SEP at Betterment and also have a traditional IRA with Betterment. Are you saying I can max out both and stack them together for tax free savings??? Do I have to pay for Medicare and SS for myself as the single member of my own LLC?

  14. Depending on your business income you may be able to contribute much more to a solo 401k. Your description of the solo 401k limitations ignores the benefits and is a bit misleading.

  15. Love your videos! but your demographic caters to millennials. If you are over 50 the solo is wayyyyy better in every way.

  16. Thanks for sharing! I started a business this year and have been self employed for over a year now. Im trying to research the best option for me as this is something new. I was always used to the 401k that my previous job used, so this was good information.

  17. 2:22 isn't the sep ira much worse than a solo 401k if your earnings is 100k? for example, the solo 401k would allow 19,500$ employee contribution + 20,000$ (20% profit sharing) + 18,500$ MBDR, which is way higher than the sep ira of 25,000$

  18. 25% of your net income (after all your deductions). So 25% of $224K = $57k. That's the amount you can make in a contribution to your plan. as of 2020. It's been bumped up to $58k in 2021.

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