How to invest your side hustle income (solo 401k)

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How to invest your side hustle income (solo 401k)
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03:14 - How is income taxed
07:07 - How to pay zero taxes on your side hustle income
14:51 - How to invest your side hustle income
17:36 - How I paid zero taxes on my side hustle income
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More about dividend growth investing:
The Simple Path to Wealth with dividend investing (Core and Satellite Portfolio): • The Simple Path to Wea...
How to create wealth with dividend growth investing: • How to create wealth w...
DGRO or DGRW which dividend growth ETF is right for you: • DGRO or DGRW which div...
I'm not a financial advisor and the content discussed today is merely my opinion and intended only for your entertainment. The content expressed in this video should not be considered as professional financial advice. This video may contain links through which we are compensated when you click on or are approved for offers. The information in this video was not provided by any of the companies mentioned, and has not been reviewed, approved, or otherwise endorsed by any of these entities.
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Опубликовано:

16 дек 2023

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Комментарии : 30

@DividendGrowthInvesting 6 месяцев назад

Thanks for watching! Try Seeking Alpha Premium: seekingalpha.me/dividendgrowthinvesting Try M1 Finance: bit.ly/TryM1Finance Rewards Credit Cards: bit.ly/TopRewardsCreditCards High Yield Savings Accounts: bit.ly/HYSA

@Gunieapower33 6 месяцев назад

Jakeeeee. Bring back the ETF deep dives , strategy, investing thesis , comparisons, 2024 outlook , etc. however you are still the best on RU-vid… and I commend your ability to get creative with your topics like your last two Sunday drops. I mean one can only do so many videos on SCHD I get it . This one other guy I used to watch until I OD’d on his 34 SCHD videos in 2023 … lol you are not him. And I thank you for taking me from a young padawain to maybe Hans Solo in the stock world … but how can we get to Yoda?

@DividendGrowthInvesting 6 месяцев назад

lol appreciate the feedback. Yeah I try and explore different topics that I feel would help people round out their understanding about dividend investing and investing in general. I plan to talk more about the topics you mentioned going into 2024 and much more :)

@ghant. 6 месяцев назад

FDVV

@19Rinka86 6 месяцев назад

Hello Jake 👋

@DividendGrowthInvesting 6 месяцев назад

hello :)

@realthatbrian 6 месяцев назад

I use Fidelity and don't pay a fee. I can buy any stocks, ETFs, CDs, etc.

@DividendGrowthInvesting 6 месяцев назад

Good to know!

@michaelnaim7914 6 месяцев назад

Can you contribute to these solo/sep accounts if you have maxed out your W2 401K and Roth IRA already?

@DividendGrowthInvesting 6 месяцев назад

Yes but... There are two types, employer and employee contributions of solo 401k. You won't be able to contribute it as part of the employee if you maxed out your W2 401k for the year. BUT you can contribute as the "employer" up to $66,000 for the calendar year for both.

@Tangov5559 6 месяцев назад

Can you do both solo-401 and w2 401k?

@DividendGrowthInvesting 6 месяцев назад

Yes

@zamin_ali 6 месяцев назад

Vanguard sucks. They won't allow you to buy fractional shares of stocks or etfs.

@DividendGrowthInvesting 6 месяцев назад

Yeah its not as flexible as other brokerages.

@ghant. 6 месяцев назад

They will for Vanguard ETFs

@CalmerThanYouAre1 6 месяцев назад

Solo 401K with a conversion strategy is the way! 💯 Everyone should start a side hustle of some kind to take advantage of the expense deductions. You can even carry a net operating loss over and use it as a deduction against your earned income from a W-2 job.

@DividendGrowthInvesting 6 месяцев назад

exactly!!! If you have side hustle income and don't know about this, you are in for a nice surprise!!

@baileyembry6057 6 месяцев назад

Great Video

@DividendGrowthInvesting 6 месяцев назад

Thanks for watching!!

@ethanshy280 6 месяцев назад

Hello. Not first

@DividendGrowthInvesting 6 месяцев назад

Hey Ethan!!

@Eli390 6 месяцев назад

@DividendGrowthInvesting 6 месяцев назад

well hello there

@CarlosGunX 6 месяцев назад

For self employed income, the retirement options will not save you from form SE taxes.

@DividendGrowthInvesting 6 месяцев назад

The solo 401k lowers your taxable income.

@CarlosGunX 6 месяцев назад

Yes, for the income tax side, but you still need to pay the Medicare and Social security tax (about 17%) on your income on Form SE. So your assertion of "tax free" side hustle is misleading and wrong.@@DividendGrowthInvesting