• Solo 401Ks, SEP IRAs, and 1099 Income

  • Sep 25 2024
  • Length: 29 mins
  • Podcast

Solo 401Ks, SEP IRAs, and 1099 Income

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  • Summary

  • In this episode of the Money Meets Medicine podcast, hosts Dr. Jimmy Turner and Justin Harvey discuss the advantages and disadvantages of SEP IRAs and Solo 401ks for doctors earning 1099 income. They delve into the differences between W2 and 1099 income, tax considerations, and the impact on retirement planning. The discussion includes real-life anecdotes, such as navigating backdoor Roth IRAs, the complexities of plan compliance, and criteria for choosing between SEP IRAs and Solo 401ks. The episode stresses the importance of understanding the nuances to make informed financial decisions tailored to individual circumstances.

    To download a free-copy of the best-selling Physician Philosopher's Guide to Personal Finance: https://moneymeetsmedicine.com/freebook

    To get disability insurance from a source you can trust, visit https://moneymeetsmedicine.com/disability

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