From Solo 401ks to Tariffs: Navigating Today's Economic Landscape
Great Day Radio
We dive deep into solo 401(K's), tariffs, financial stability, and entrepreneurship in this comprehensive financial freedom episode. DJ Mikey D breaks down complex financial topics into actionable steps while providing practical advice for both personal financial management and business ownership considerations.
• Solo 401ks offer high contribution limits and tax advantages for self-employed individuals and small business owners
• Setting up a solo 401(K) involves checking eligibility, selecting a provider, choosing plan type, and maintaining proper records
• Tariffs present a double-edged sword that can protect American industries while potentially increasing prices and triggering trade wars
• Building financial stability requires clear goals, budgeting, emergency funds, debt management, and automated savings
• Entrepreneurship demands thorough planning, customer focus, and maintaining financial security during the transition
• Starting a business as a side hustle while keeping stable employment can provide security while pursuing entrepreneurial dreams
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