TRANSCRIPT:

Hi Greg Vojtanek here of Fade In Financial. One of the most underutilized and maybe unknown aspects of incorporating yourself, or having your own S-Corp or LLC or Loan-out company, is that you can bypass the current limits that we have on our personal IRAs.

So if you have a Roth IRA for example, you’re only allowed, currently, to contribute up-to $7,000 per year if you’re under age 50; more if you’re over. That tends to increase every few years or so. But that’s it. You’re limited to that. You’re capped.

But if you have you’re own company, you can bypass those limits and contribute more. A LOT more actually. Actually up-to about ten times as much, depending on how much you make. So now you can bypass that $7,000. You can still contribute, if you qualify, to that $7,000 per year in your individual IRA. But in your own company, you can open up a Simple IRA, a SEP IRA, or even your own 401(k), even if it’s just you.

And you can contribute a lot more than just that $7,000. That money will grow, in some cases tax-free, in most cases at-least tax-deferred. And compound and compound year over year over year. Plus you can contribute a lot more.

So don’t forget about that little underutilized tactic of having your own company. It’s really powerful. So I hope you found this video helpful. As usual, do what’s right for you because your situation is different than most. Thanks for watching.