78. Where to Start Investing as an Entrepreneur

 Leo Marte, the owner of Abundant Advisors, joins host Liam Leonard on today’s episode of The Prosperity Perspective to share his perspective on the investment ideology of being an entrepreneur. Leo’s where to start: as a solopreneur and as an entrepreneur with multiple employees, there are different strategies to pursue in the beginning. As a solopreneur, it's very easy to open a retirement plan. And the limits of the amount of money that you can put in are significantly higher than a regular employee has because you can contribute as both the employer and the employee.As an entrepreneur with multiple employees, your math is a little bit more complicated because then you have to delve into discrimination testing and top-heavy testing. You have to make sure that your high earners are not solely taking advantage of any retirement plan and then your low earners are not. The IRS rules have been created so that everybody can partake in the plan, but that also has a significant cost that is added to the business owner.3 Key TakeawaysStart investing in simple things like 401k’s and Roth IRAs.Entrepreneurs: traditional investment strategies could help you manage some of the risks inherent in running your own business.Proceed with caution if you're going into any sort of esoteric investment strategy (i.e. crypto, AMC, Gamestop)ResourcesAbundant Advisors websiteAbout Leo MarteCurrently resides in North Carolina, where his wife and him are raising two beautiful children. He is a CERTIFIED FINANCIAL PLANNER™, the gold standard of financial planning expertise. 28% of advisors in the U.S. hold this designation, and only 4% of CFP® professionals are Hispanic or Black. He holds a DACFP Certificate in Blockchain and Digital Assets, the only certificate program designed for financial professionals. Graduates of the program gain the essential knowledge and understanding of blockchain and digital assets and are able to provide investors with the advice* they need about this new and transformational asset class. Abundant Advisors is a fiduciary, fee-only, and virtual advisory firm, serving clients locally and across the country.