Issue #58: The Power of Retirement Plans for Business Owners: A Solo 401(k) Revelation

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This week I encourage you to focus on your plan not the plan of the media or others, your wealth is not their wealth!

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Individual 401(k) or Solo (k) FOR THE WIN!

Hey there, #businessowners, we're a different breed, ain't we? We put in sweat and blood, loads of undocumented hours, and these small gestures of understanding go a long, long way for us. Respect all of you!

Alright, let's talk shop. When it comes to retirement plans, business owners got their own set of rules to play by. It's not just about cashing in and kicking back - it's a whole different ball game. As an owner, you might not be hauling in a steady paycheck. Your business could be your lifeblood, every dollar being pumped right back into the grind (been there, done that, got the frickin' t-shirt). Plus, if you're rollin' solo or only got a handful of contractors or family on board, that's a whole other kettle of fish.

Oh, and don't forget, your business can be your retirement ticket if you play your cards right - ever thought about selling the damn thing? Yeah, it's a frickin' possibility!

Now, for this issue, let's shine a light on those badass business owners without a horde of employees to worry about. If you're part of the lone wolf club, listen up. Your go-to move? The Solo 401(k), baby! Yeah, you heard that right - the Solo #401k. It's like your regular 401(k), but with a badass twist. You and your better half are the sole players here. That means you, your trusty accountant, and your savvy planner can maneuver through the maze of tax planning like bosses.

How much can you throw in?

Same as the regular 401(k), up to a sweet $66,000. You can pitch in $22,500 (as the "employee") and let the business splash in the rest up to $66,000. You're not onboard yet? What the hell, man? Get your ass in gear! You gotta set up shop by 12/31/2023. Our team can make it happen in less than 10 business days for regular investing, or within 15 days for the Self-directed version (we'll get to that in a sec). Need our help? Hit us up pronto. Got your own advisor? Bug them, like, yesterday. We can guide them through the process too, in case they're feeling clueless.

Self-Directed Solo (k)?! WTH is that?

Now, here's the juicy bit. Brace yourselves, peeps, 'cause I'm about to blow your frickin' mind. Investing for business owners can take a wild turn, and we're not just talking about the regular old vanilla stuff. We're talking about diving into the rabbit hole of a Self-directed Solo K. Yeah, you heard that right, the Self-directed Solo K. And by "self-directed," I ain't just talking about picking stocks or mutual funds.

Oh no, my friends, I mean diving deep into the abyss of Real Estate, Private Funds & Offerings, Promissory Notes & Lending, Small Businesses & Startups, Stocks & Mutual Funds, Bitcoin & Crypto. Yeah, that's right, the whole shebang! This ain't your grandma's retirement plan, folks. This is some next-level shit right here. You can even pull this same concept with your HSA's and all kinds of IRA's. Trust me, it's a goddamn gold mine, and we got the legal eagles at KKOS Lawyers backing us up in managing these plans. Wanna get a taste of the magic? Take a peek at their website . It's our secret sauce for growing your wealth, my friends.

Stay tuned, 'cause we're gonna dive deeper into the whole process and how we'll guide you through the madness. But for now, remember this: you set up a solo-k, you roll that sucker into a self-directed frenzy, and you keep your planner on speed dial to vet the hell out of those investments. Boom! Mind officially blown, am I right?

Next Week’s Issue

Will be about the new structure of the newsletter, expectations to come and some brief insight into a near future project that is going to be amazing!

#NoBSWealth?Clip of The Week

Cannot wait until next week or just want more, check out our podcast @nobswealth and catch us on Youtube . You can always follow me on Instagram and Twitter as well! Or just email me, [email protected] .

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