WCI #260: Self Employed Retirement Accounts Q&A

White Coat Investor Podcast

Dr. Jim Dahle of the White Coat Investor

Medicine, Health & Fitness, Business, Investing

4.9 • 2.3K Ratings

🗓️ 28 April 2022

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode we answer your questions about self-employed retirement plans. If you are self-employed, open a solo/individual 401(k). If you make a lot of money, you might consider a personal defined benefit plan. Do a backdoor Roth IRA and a health savings account. Those are your retirement plans for a self-employed doc. That's the basic setup. Anything you want to save above and beyond that goes in a taxable account. So it is not that complicated. When you get into all the details though, there can be a lot more questions. We tackle those questions in this episode. See show notes here https://www.whitecoatinvestor.com/self-employed-retirement-accounts-qa-260/

Bob Bhayani is an independent provider of disability insurance planning solutions to the medical community in every state and a long-time White Coat Investor sponsor. He specializes in working with residents and fellows early in their careers to set up sound financial and insurance strategies. If you need to review your disability insurance coverage or if you just need to get this critical insurance in place, contact Bob at https://drdisabilityquotes.com today. You can email [email protected] or call (973) 771-9100.

The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs for specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor channel is for you!

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Transcript

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0:00.0	This is the White Code Investor Podcast, where we help those who wear the white coat get a fair shake on Wall Street.
0:05.3	We've been helping doctors and other high-income professionals stop doing dumb things with their money since 2011.
0:14.9	This White Code Investor podcast number 260, self-employed retirement accounts Q&A.
0:19.8	This podcast is sponsored by Bob Bionny at drdisabilityquotes.com.
0:24.8	He's an independent provider of disability insurance planning solutions to the medical community in every state and a long time White Code Investor sponsor.
0:32.4	He specializes in working with residents and fellows early in their careers to set up sound financial and insurance strategies.
0:38.1	If you need to review your disability insurance coverage, or just need to get this critical insurance in place,
0:43.4	contact Bob at drdisabilityquotes.com today.
0:46.7	You can email info at drdisabilityquotes.com or you can call 973-771-910.
0:54.7	Today's episode we're going to be going over a whole bunch of your questions.
0:59.7	On the blog I write what I want to write about.
1:02.7	On the podcast it's directed almost completely by you.
1:06.7	By what you've asked for, by interviews with you as the audience.
1:11.7	A lot of times some are interviews of course, or with other people.
1:15.7	But we answer a lot of your questions.
1:17.7	What you guys want to hear about, let us know and we will cover it.
1:21.7	If you'd like to leave us a question to use on the podcast, you can leave those at whitecodeinvestor.com slash speakpipe.
1:30.7	Alright, today we're going to be talking about self-employed retirement plans.
1:35.7	There are lots of questions about these.
1:37.7	I don't find them particularly complicated.
1:40.7	You know, this is pretty straightforward.
1:42.7	If you are a self-employed, go get yourself a solo, a.k.a. an individual, 401k.
	...

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