Small Business Tax Savings Podcast
Business:Entrepreneurship
Master Your Future Retirement: With Guest from Retirement Revealed Podcast
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How can business owners effectively plan for retirement while managing the growth and operations of their businesses?
In this episode, Mike welcomes back Jeremy Keil, a retirement planning expert from Keil Financial Partners, to discuss the importance of retirement planning for business owners. They explore why business owners, whether they're just starting or have been operating for a while, often neglect retirement planning and the possible consequences of doing so. They discuss aspects such as income from businesses, selling businesses, scenarios they have encountered with various business owners, and misconceptions about Health Savings Accounts (HSAs). They also delve into practical steps and strategies that business owners can implement now to save for retirement, such as maximizing HSA and Roth IRA contributions, setting up retirement plans like simple IRAs, SEP IRAs, and 401ks, and taking advantage of age-weighted profit sharing 401ks and after-tax contributions.
[00:00 - 07:21] Retirement Planning for Business Owners
[07:21- 17:00] Health Savings Account and Other Retirement Saving Strategies for Business
Quotes:
"Your investments, you have less control over than all the other places that I mentioned. So we want to focus on the things you can control." - Jeremy Keil
"When you're saving into your retirement, you want to get the most tax advantage that you can. And the number one best tax advantage you can get in any account is the health savings account." - Jeremy Keil
Connect with Jeremy!
Website: www.keilfp.com
Podcast: Retirement Revealed Podcast
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Podcast Host: Mike Jesowshek, CPA - Founder and Host of Small Business Tax Savings Podcast
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