Week #8 Email Newsletter Update: How Business Owners Can Put as Much as $300,000 away in your 401k Each Year – from Brandon on March 12
We’re headed into week 12 of 2022 like a dove flying downwind on a wild windy day. Lots of new stuff for you this week. Let’s go….
EDGE on YouTube
We started publishing episodes of the EDGE on YouTube with the actual video from the show. Check out the latest episode that we dropped today and please subscribe to our channel.
How to Ditch a Corporate Career to Build Your Own Business with Courtney Brand of the Lighthouse
Courtney Brand is an Entrepreneur and Founder of Lighthouse who quit her day job, started her own company and then raised money from investors for it.
Watch on YouTube
New EDGE Podcast Episodes to Listen to That Will Help You
- How to Publish a Book and Increase Your Sales with Jesse Krieger from Lifestyle Entreprenuer Press | Listen to Ep. 272 on Apple Podcasts or Spotify
- How You as a Business Owner Can Put as Much as $300,000 away in your 401k Each Year with Matt Ruttenberg | Listen to Ep. 271on Apple Podcasts or Spotify
- How I’m Building a Tea and Wellness Company with Paula Shaw Founder of Cured Leaves Tea | Listen to Ep. 270 on Apple Podcasts or Spotify (special for International Women’s Day)
- Venture Capital: Building a Better Model with Carter Williams of iSelect Fund | Listen to Ep. 269 on Apple Podcasts or Spotify
- On Diversity in the Workplace. Should Business Owners have Quotas? with Danielle Jenkins from Domestic Divas Cleaning Co | Listen to Ep. 268 on Apple Podcasts or Spotify
- Turning a Side Hustle Event Ticketing Wireless Payment App into Big Business with Kadin Zimmerman the Founder of RFIDify | Listen to Ep.267 on Apple Podcasts or Spotify
Something New I Learned: How to save more in your 401k
I learned how to save more in our 401k with a “cash balance” selection that is going to save a ton of money for us on our 2021 taxes.I’m in the process of setting this up for us and for some other friends who own businesses. The amount you can put into it depends on age, but goes up to over $300,000 on top of regular contributions and using a profit sharing option.
You can still get credit for it on your taxes for 2021 if you put it in place before you file. Ask your 401k provider and listen to episode 271 on the EDGE podcast where our guest Matt lays out an overview how to do it.
* 401k provider for us
What I’m Re-Reading
The Intelligent Investor
Specifically chapters 8 and 20. If you don’t have this book, you’re missing out on one of the best investing books of all time. Read chapters 8 and 20 and you’ll know why I’m reading them right now. Best price I found is on Amazon here
What I’m Watching
Winning Time Series on HBO
In the early 1970 Jerry Buss (aka Dr. Buss) gave up a corporate career designing missiles for the US government to go into real estate. He made a fortune. Then in 1979 he put that entire fortune on the line with the purchase of the NBA’s lackluster Los Angeles Lakers. He even had to borrow two million dollars from his ex-wife to make it happen.
Talk about an entrepreneur who took high stakes chances and knew how to deal with people. Really good so far. Recommended.
What I’m Writing About for The EDGE’s Print Newsletter
A reminder why you need to hang tight and resist the temptation to sell when the market goes down. I’m using the stocks I bought in January of this year as an example how they can go down, but then shoot right back up.
Keep the Ukrainian people in your thoughts.
Have a great rest of your weekend!
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