I am Self Employed with Variable Income. Help me Save and Invest

Episode 63 of the ADHD Money Talk podcast, hosted by David DeWitt, titled "I am Self Employed with Variable Income. Help me Save and Invest" was published on August 16, 2023 and runs 20 minutes.

August 16, 2023 ·20m · ADHD Money Talk

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Summary

Episode Description

Do you ever feel overwhelmed when managing your business and personal finances? Well, you're not the only one. This ADHD Money Talk episode is specifically designed to provide actionable tips and strategies for those who are self-employed or work as 1099 contractors. We'll guide you through the process of separating your business and personal finances by using business banking accounts. Also, we'll highlight the importance of understanding your business structure and the benefits of utilizing an accounting software for tracking receipts and invoices.

But wait, there's more! We are also taking a deep dive into the various retirement contribution options available for self-employed individuals. Learn the ins and outs of investing in Roth IRA, regular taxable brokerage account, or SEP IRA. We discuss how these investment options can significantly reduce your current tax rate and save you a substantial amount of money in the long run. Remember, with financial decisions, it's always important to consult with a professional and always keep your business and personal finances separate. So, get ready to take charge of your finances in this enlightening episode!

Head over to our YouTube channel for the full experience on future episodes.

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