This episode explores how the Solo 401k, a powerful strategy for self-employed professionals and small business owners, puts you back in control.
Expert Dmitriy Fomichenko joins the show to explain how you can use it to bypass custodians, invest in real estate, save aggressively on taxes, and take full control of your financial future.
This conversation is a masterclass in building tax-free wealth. We explore how to use your Solo 401k for real estate investing, creating leverage without the usual penalties.
You'll also learn the critical differences between an IRA vs 401(k) vs Solo K, and the prohibited transactions you must avoid staying compliant with IRS rules.
If you're ready to make your money work smarter, this episode is your blueprint.
TIMESTAMPS:
00:00 – Intro: Why Solo 401ks Matter Now
01:18 – Dmitriy's Immigrant Journey & Founding Sense Financial
02:54 – IRA vs 401(k) vs Solo K Explained
04:43 – Investing Beyond Wall Street
6:55 – Massive Tax Advantages of Solo Ks
11:24 – Real Estate Leverage Without Tax Penalties
14:06 – Prohibited Transactions & IRS Rules
19:44 – Maintenance Made Easy
23:10 – Dual 401k Strategy for Married or Multi-Income Households
26:41 – Final Tips: Control, Leverage & Long-Term Wealth
28:47 – Where to Connect with Dmitriy
Guest:
Dmitriy Fomichenko
Website: https://www.sensefinancial.com
HOST:
Melissa Aarskaug
Executive Connect: https://www.executiveconnectpodcast.com
YouTube: https://www.youtube.com/@ExecutiveConnect
CONNECT WITH US:
Podcast Website: https://www.executiveconnectpodcast.com
YouTube: https://www.youtube.com/@ExecutiveConnect
SOCIAL:
LinkedIn: https://www.linkedin.com/in/melissa-aarskaug/
TikTok: https://www.tiktok.com/@melissa_aarskaug
X: https://x.com/melissaaarskaug
