I have a mid seven figure regular taxable brokerage account that I direct and oversee. It pays me dividends and distributions mostly at the 15% rate. After watching this video it seems to me I would benefit by having a solo 401k because I don't work anywhere else and this would allow me to more quickly accumulate retirement dollars. I understand you should have earned income to do this. But since I do my own investment research, overseeing, going to conferences etc could I pay myself W2 salary for the overseeing , selecting and management of the investments. So that I would have "earned" income? This was a very good video by the way. Thank you for all the examples.
Attended the Dallas Summit, it was amazing and so glad I attended in person. The networking and amount of knowledge I gained is incredible 🎉
Thanks Joy! I hope to see you at the next one!
Great content I'll be contacting you soon to set up an account purely based on the wealth of knowledge displayed in this video
Sounds great Clint! Our team is great would love to hear what you are investing into once you get started.
I have a mid seven figure regular taxable brokerage account that I direct and oversee. It pays me dividends and distributions mostly at the 15% rate. After watching this video it seems to me I would benefit by having a solo 401k because I don't work anywhere else and this would allow me to more quickly accumulate retirement dollars. I understand you should have earned income to do this. But since I do my own investment research, overseeing, going to conferences etc could I pay myself W2 salary for the overseeing , selecting and management of the investments. So that I would have "earned" income? This was a very good video by the way. Thank you for all the examples.
Yes, you would call yourself a consultant at that point. Form an LLC, get an E.I.N. # and you're off to the races!!!
Can a person who is employed with a 401k, but who also has a side hustle have a solo 401k, too?
Can we just add 100k to the roth ira and wait 25 years without doing anything else?
Do ubereats drivers qualify for a solo 401k?
Yes I do uber as a side hustle
At first I thought Mark had gone through chemo!😂
132000 not 126000