$22,000 Solo 401(k) Secret Advisors Won't Share

Teaching Millionaires

I discovered a retirement strategy that saved me $22,000 in taxes in ONE YEAR, and most financial advisors won't tell entrepreneurs about it.

In this video, I reveal exactly how switching from a SEP IRA to a Solo 401(k) can potentially TRIPLE your tax-advantaged retirement contributions. Perfect for freelancers, consultants, small business owners, and side hustlers with no full-time employees.

⏱️ CHAPTERS:

00:00 - How I Saved $22,000 on Taxes

00:53 - My Conversation with Ashley the Yoga Studio Owner

02:33 - SEP IRA vs Solo 401(k): The Key Difference

03:53 - Income Examples: Why This Works for All Entrepreneurs

05:17 - The Compound Growth Advantage

06:34 - Is a Solo 401(k) Right for You?

08:32 - Taking Action: December 31st Deadline

🔑 KEY POINTS:

- SEP IRAs limit you to 20% of net income

- Solo 401(k)s let you contribute as BOTH employer AND employee

- Current Solo 401(k) contribution limit: up to $70,000

- Extra catch-up contributions available for those over 50

- Must establish plan by December 31st to claim this year's tax break

- Works for all self-employed individuals (no employees except spouse)

🔽 FREE RESOURCES:

Download my Solo 401(k) Guide: https://pages.teachingmillionaires.com/sep-vs-solo401k

#Solo401k #TaxStrategy #EntrepreneurFinance #RetirementPlanning

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👥 About Rich Smith:

Rich Smith helps individuals and business owners optimize their wealth through smart financial strategies. With expertise in tax incentives and wealth preservation, Rich breaks down complex financial concepts into actionable steps.

📌 This video may contain links through which we are compensated when you click on or are approved for offers. The information in this video was not provided by any of the companies mentioned, and has not been reviewed, approved, or otherwise endorsed by any of these entities. I am not a financial advisor. The information I share is for educational purposes only and shouldn't be considered as certified financial or legal advice. It is imperative you conduct your own research. I am sharing my opinion only.