Solo 401k vs SEP IRA

Welcome to Thinking Solo with host Ryan Derousseau, CFP®, EA, where we talk about ways to succeed in business and life. In this episode, we break down the key similarities and differences between the Solo 401k and the SEP IRA to help self-employed entrepreneurs choose the right retirement plan. We also discuss how business structure and employee rules impact your decision, followed by a movie review of Pig.In this episode:🔸 Learn how both options allow solo business owners to build long term retirement wealth🔸 Discover how the flexible contribution limits work for employee and employer portions🔸 Understand why high earners often benefit more from choosing a Solo 401k🔸 Explore critical employee rules that could create unexpected tax penalties for SEP IRAs🔸 Compare startup deadlines and documentation needs for setting up your retirement account🔸 Learn how your S Corp structure impacts your maximum potential retirement contributions🔸 See why a Solo 401k often encourages consistent ongoing retirement saving habits🔸 Gain key lessons on entrepreneurial passion from a review of the film PigBe sure to subscribe to the channel and share this episode with other solo entrepreneurs looking to optimize their retirement strategy. For more insights on building business wealth and reaching your goals, visit thinkingcapfinancial.com today.Thanks for tuning in, and in the meantime… keep grinding.#ThinkingSolo #Solo401k #SEPIRA #RetirementPlanning #Solopreneur #SmallBusiness—Connect with Ryan Derousseau, CFPEmail: [email protected]: https://www.linkedin.com/in/ryanderousseau/ Website: https://thinkingcapfinancial.com/