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Financially Simple Bizcast

The Financially Simple podcast is your one-stop resource for small business owners. Gain unique insights into growing, refining, and selling businesses. You will hear ways business owners have reduced their tax liabilities, increased their income, improved office morale, saved for the retirement of their dreams, and more.
Host Justin Goodbread is a serial entrepreneur, award-winning CFP® (Certified Financial Planning professional), CEPA® (Certified Exit Planning Advisor), and CVGA® (Certified Value Growth Advisor) with years of experience guiding business owners from start to exit in their business.

Sep 12, 2019

In episode 190 of Financially Simple, Justin goes over Solo 401k Funds.

If you are a Solopreneur, independent contractor, or individual business owner, then a Solo 401k might well be the investment fund for you. Justin explains the ins and outs of the Solo 401k, and shares some insightful tips on why it’s a great option for individual business owners.

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01:19 - The Small Business Owner’s Guide to the Solo 401k

03:48 - What is a Solo 401k?

04:15 - What are the Details?

07:43 - An Important Note

10:49 - Benefits for Those With a Side-Gig

12:14 - IRS Form 5500-SF

12:52 - Staggered Contributions

14:17 - Loan Provisions

16:07 - ROTH Eligibility

17:22 - How to Open a Solo 401k

18:38 - Wrap Up




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Host Justin Goodbread, Certified Financial Planner, Certified Exit Planning Advisor, Certified Value Growth Advisor. He is a serial entrepreneur, author, speaker, educator, Investopedia Top 100 advisor, and business strategist with over 20 years of experience. Justin owns Heritage Investors LLC, a registered investment adviser with the State of Tennessee. Heritage Investors only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. This material is for general information only and is not intended to provide specific advice or recommendations for individuals. To determine what is appropriate for you, please consult a qualified professional. The Financially Simple podcast provides information, guidance, and support to Small Businesses in the United States.