R. Kenner French and Liliana Falconer discuss the importance of qualified plans for entrepreneurs, particularly solopreneurs, in reducing tax liabilities and saving for retirement. They explore the differences between pre-tax and post-tax contributions, the benefits of stacking various retirement plans, and the investment options available within these plans.
The discussion emphasizes the significance of planning for a comfortable retirement and the potential for significant tax savings through strategic financial planning.
Takeaways
• Qualified plans can help entrepreneurs lower their taxes.
• You can still lower your taxes even after the year has ended.
• Pre-tax contributions reduce your taxable income for the year.
• Post-tax contributions allow for tax-free withdrawals in retirement.
• Stacking multiple retirement plans can maximize savings.
• Investment options in retirement plans are broader than many realize.
• You can control your investments in self-directed plans.
• Planning for retirement is essential for financial freedom.
• Understanding tax implications is crucial for effective planning.
• Consulting with a financial advisor can help tailor strategies.
Sound Bites
• It can be so powerful.
• You are saving for your future.
• You can reduce your tax liability.
Listen & Subscribe for More:
🎧 The Vast Voice Podcast → Available on Spotify & Apple Podcasts
▶️ Subscribe to VastSolutionsGroup.com on YouTube for expert insights! 🚀
If you have any questions in general you can reach our office at:
VastSolutionsGroup.com
Phone: 415-212-8189
Email: info@vastsolutionsgroup.com
Monday-Thursday 8:00 AM – 5:00 PM (Pacific)
Thank you for listening!
