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Epic Real Estate Investing

How to Participate in Multiple Retirement Accounts | 371

Epic Real Estate Investing

Matt Theriault

Business, Investing

4.7955 Ratings

🗓️ 10 April 2018

⏱️ 3 minutes

🧾️ Download transcript

Summary

Today on Tax Hacker Tuesday with Epic Real Estate, Tim Berry explains how to participate in multiple retirement accounts. Listen now to learn how to use multiple retirement accounts at once, which contribution limits you need to know about, and how to save for retirement in the smartest and most fruitful way possible.

Transcript

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0:00.0

This is

0:02.0

is Terrio Media.

0:05.0

Did you know that up to 50% of your lifetime income will be wiped out by taxes?

0:10.0

What if you could stop this madness?

0:12.0

Isn't it about time you play on a level playing field with the wealthiest 1%?

0:17.0

Now you can.

0:18.0

Tim Berry, attorney at law, shares here each and every week current tactics and strategies that anyone can implement to

0:25.2

hack the tax code. Protect your assets and keep what's rightfully yours.

0:30.1

It's time for Tax Hacker Tuesday.

0:36.0

Okay, so you set up a self-directed 401k.

0:39.0

You've got your side business and it's whatever consulting,

0:42.0

it's an eBay business, it's whatever consulting it's an eBay business it's real estate so he set up a

0:45.5

401k plan your self-directed 401k plan on the side business over here and then

0:51.3

you're still also working for the man. You're working for IBM or whoever over here.

0:56.0

And you have a retirement plan with IBM as well.

0:59.0

So you have this retirement plan with IBM. You have your own self-directed 401k plan, are you allowed to participate and

1:07.1

contribute to both plans? I got great news for you. The answer is yes, you are

1:12.0

allowed to participate in both plans, but there's

1:14.8

going to be certain limitations here.

1:16.7

And by the way, I'm going to refer you over to our video on contribution limits for your

1:20.2

4-1K plan, because that's, I'm going to start using some language that's

1:23.6

taken from that video in particular with these retirement plans the two

...

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