How to choose a small business retirement plan in 2023

In this video, I dive deep into the options for small business retirement plans in 2023. From traditional IRAs, Roth IRAs, and Solo 401Ks to understanding how to utilize them together with workplace plans like 401k and 403b, I cover it all! I also introduce the updates in 2023 contribution limits and explain complex topics like non-deductible contributions and the mega backdoor Roth strategy. Whether you're a small business owner or someone looking to understand retirement planning better, this guide is tailored for you. Download the accompanying PDF guide from our Discord server and join me in securing your financial future!
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Our financial planning process is an ongoing relationship because as you grow, your financial plan grows with you. At Sickle Hunter Financial Advisors, we believe that saving and making sound financial decisions will help improve your life’s changing needs and objectives. Retirement, college planning, wealth building, social security, and career benefit packets are only a few of the financial decisions that you may face in your lifetime and we’re here to help guide you.
TRAVIS T SICKLE, CFP®, EA®, AAMS®, CRPC®, RICP®
CERTIFIED FINANCIAL PLANNER™
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#travissickle

[@TravisSickle]

Get the PDF on our discord server here... Join Link discord.gg/enuJThjHJ9

[@FLOODOFSINS]

You know how CZcamsrs are trying to get into the boxing ring? I think we should have the Dave Ramsey types vs. Anti Dave Ramsey's types CZcamsrs in a ring punching it out.

[@TravisSickle]

😂😂😂

[@slowslug3247]

If your here for the Roth 401k, it doesn’t start til 26 minutes in. I wish there was a video on how to and where to open one up

[@TravisSickle]

Check solo 401k videos on the channel. It’s tricky to DIY it.

[@TravisSickle]

I should add chapters to this video

[@irinajen6379]

So, if I open an IRA or single 401K and still have to pay self employment tax including that amount - why the contributions called Pre-Tax? Should not that move lower my business tax’s?

[@user-fq1ii4sj7j]

If I am self employed in a partnership and already have a 401k that my employees participate and I contribute to can I still have a solo 401k tied to a different opportunity?

[@ninersnation2364]

Listened to a video from a year ago.......Nice mic lol

[@TravisSickle]

Thanks! Got a little help from some CZcams audio engineers.

[@JuniperTreeee]

I put money into a ROTH funded by my employer. It wasn't deductible due to my income . Do I only backdoor when I've put the $6500 into that ROTH?
Also does the income limit apply to total income with a business? I have both a 9 to 5 W2 job and an LLC. Can I contribute to my SEP via my business and my IRAs through work? Or is it all just assigned to me and my social security number?

[@TravisSickle]

workplace plans through work. Roth IRA, from your bank account and a self employed plan with your LLC.

[@jattdentistry]

Hi im trying to join the discord to view the pdf but it says link invalid. Any idea on how i might be able to obtain the PDF? Thanks!

[@TravisSickle]

I just checked and it should be working. Which one are you looking for the retirement plan limits?

[@tommyfisher2589]

If I am self employed in a partnership and already have a 401k that my employees participate and I contribute to can I still have a solo 401k tied to a different opportunity?

[@TravisSickle]

Yes, but it doesn’t change the limits.