How To Choose The Best Self-Employed Retirement Plan! (Full Guide)

Video Description

Learn How to Maximize Your Retirement Plan as a Self-Employed Individual and Reduce Your Taxes (Legally). Get a Free Consultation: https://mycpacoach.com/contact/ In this video, I walk through how self-employed individuals can use retirement plans to lower their tax bill, build long-term wealth, and secure their financial future. #retirementplanning #taxstrategy #taxstrategist By utilizing 401(k)s, IRAs, and cash balance plans, you can maximize your contributions, lower your taxable income, and grow your wealth tax-free. I’m going to break this down step by step as a licensed CPA who tax plans around retirement strategies every day at mycpacoach.com — so go ahead and save this video, hit the like button below, and let’s jump right in. Self-Employed Retirement: (0:00) Self-Employed Benefits: (1:14) Retirement Structures: (1:59) Level 1: IRAs: (3:06) Roth IRA: (3:37) IRA Disadvantages: (3:52) Level 2: Simple IRAs (4:26) Level 3: SEP IRAs (5:39) SEP IRA Disadvantages: (6:18) Level 4: Traditional 401Ks (6:47) Traditional 401K Advantages: (7:29) Traditional 401K Disadvantages: (7:51) Level 5: Solo 401Ks: (8:30) Solo 401K Advantages: (8:46) Solo 401K Disadvantages: (10:08) Level 6: Cash Balance (10:33) Cash Balance Disadvantages: (11:50) Choosing the Best: (13:00)