334: How Solopreneurs Can Take Control of Their Retirement with Sean Mullaney
If you are (or were) a W-2 worker, your company probably gave you the option to enroll in a retirement account. Ideally, they matched it, managed it, and made it easy for you to sign up and make contributions.
If you’re an entrepreneur, saving for retirement isn’t quite as simple. Which means you’ve got to take control of your own retirement–but this creates additional opportunities to save on taxes and put away more money for the future.
That’s why I’m excited to introduce you to Sean Mullaney. Sean is the president of Mullaney Financial & Tax, a fee–only fiduciary that offers advice-only financial planning. He’s also the author of The Solo 401(k): The Solopreneur’s Retirement Account, a guide that allows self-employed entrepreneurs to reduce taxes and strategically save for retirement.
In our conversation, we dig into how real estate can play a role in your retirement portfolio, the advantages of the solo 401(k), and how to take advantage of the wide array of tools at your disposal that you might not even be aware of.
Disclaimer: The discussion is intended to be for general educational purposes and is not tax, legal, or investment advice for any individual. Josh and the Accelerated Real Estate Investor podcast do not endorse Sean Mullaney, Mullaney Financial & Tax, Inc. and their services.
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Key Takeaways with Sean Mullaney
- What makes a solo 401(k) such a great investment tool for people with substantial self-employment income.
- How to make double contributions to a solo 401(k) as both employee and employer.
- Why most solopreneurs need to work with a solid financial professional to maximize their retirement opportunities.
- Why investing in your own deals from your retirement accounts is all but guaranteed to dilute your returns.
- The critical difference between a fiduciary and someone who sells financial products based on commission.
Want the Full Show Notes?
To get access to the full show notes, including audio, transcripts, and links to all the resources mentioned, visit https://acceleratedinvestorpodcast.com/334
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