What's the Difference Between a 401(k) and Solo 401(k)?
Money Girl
Macmillan Holdings, LLC
4.6 • 1.8K Ratings
🗓️ 13 December 2023
⏱️ 16 minutes
🧾️ Download transcript
Summary
Understand how a regular and solo 401(k) compare, who can have them, and ways to maximize their tax-advantaged benefits.
Money Girl is hosted by Laura Adams. A transcript is available at Simplecast.
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Transcript
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| 0:00.0 | Matt M says, says, hi Laura, your podcast has been a valuable source of financial |
| 0:09.9 | education. I've listened to various episodes but am unsure if I can use a solo 401k. |
| 0:17.0 | Can you review how to utilize this type of account? |
| 0:20.0 | Matt, thank you for sending in your question. I'll review solo 401k rules and how it compares to a regular 401k. |
| 0:29.0 | You'll learn who qualifies for these similar sounding yet very different tax |
| 0:34.4 | advantaged accounts and how to maximize their benefits. |
| 0:38.0 | Hey everyone, thanks for joining me this week. |
| 0:41.0 | I'm Laura Adams, host of the Money Girl Podcast with over 42 million |
| 0:45.3 | downloads. Before we get started I have a quick announcement that I'm |
| 0:49.4 | super excited about. This week I'm launching something new. It's called The Money Stack. It's a |
| 0:56.0 | newsletter and community helping you build your bank account on your terms with loads |
| 1:01.5 | of actionable advice, tools, inspiration, and educational events. |
| 1:07.0 | Best of all, it's free to sign up. |
| 1:10.1 | You'll get the newsletter, my behind the scenes videos, |
| 1:13.7 | and invitations to special events, like my upcoming workshop |
| 1:17.8 | called develop wealth habits that guarantee |
| 1:21.3 | a rich and happy life. This workshop is the perfect way to start the new year. |
| 1:26.7 | You do not want to miss it. And even if you can't show up for the live event, I know we all get |
| 1:31.8 | busy. I love for you |
| 1:35.0 | up for the live event. I know we all get busy. I'd love for you to be there live. |
| 1:36.0 | But if you can't show up live, |
| 1:38.0 | be sure to subscribe to the newsletter |
... |
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