The Ultimate Guide to Solo 401(k)s for Entrepreneurs
4.8 (3 ratings)
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The Ultimate Guide to Solo 401(k)s for Entrepreneurs

Save $1,000s + Reduce Your Taxes Year After Year
4.8 (3 ratings)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
218 students enrolled
Last updated 3/2016
Current price: $10 Original price: $25 Discount: 60% off
5 hours left at this price!
30-Day Money-Back Guarantee
  • 1 hour on-demand video
  • 1 min on-demand audio
  • 2 Supplemental Resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
What Will I Learn?
  • Maximize your solo 401(k) to fund your retirement
  • Reduce your tax liability year after year
  • Reduce retirement planning fears
View Curriculum
  • Internet Access
  • Determination to adequately fund retirement
  • Desire for deeper understanding of 401(k) plans presented in a classroom format

Why should you take this course?

Entrepreneurs often worry about not having enough money to fund retirement. In many cases, retirement planning is the last item on a very long to-do list. The lack of security and steady paychecks from regular employment make it all the more important to put a plan in place. This course is specifically designed to teach entrepreneurs how to use the solo 401(k) to secure their financial future.

You will learn:

  • 29 lectures and 1.5 hours of content
  • How consistently saving money in a solo 401(k) results in hundreds of thousands of dollars for you to enjoy in retirement
  • How to reduce your taxes year after year by making contributions as both employer and employee
  • A unique way to turbo charge your savings by hiring your spouse
  • How to calculate your self-employment taxes-a major step in determining how much you can place in your 401(k) as the employer
  • , How to set up a plan
  • The fee structure involved when you open and maintain a plan. You’ll learn what’s reasonable and how to compare fees
  • The investment choices offered in many plans
  • How your solo 401(k) relates to the stock market
  • What you need to know about investment time horizons and your risk tolerance
  • Where to open a solo 401(k)
  • The rules for loans and how to determine the amount you can borrow
  • The rarely known tax penalty for not making distribution on time
  • How 401(k) minimum distributions are made and what happens to your 401(k) in the case of your death

This course is designed to give you the confidence you need to manage a solo 401(k). You’ll experience a classic classroom setting. The course contains plenty of examples and quizzes to reinforce each concept. After completing this course, you will gain a “Cradle to Grave” knowledge of these plans—your key to saving thousands of dollars and reducing your taxes.

Who is the target audience?
  • This course is designed for self-employed individuals, entrepreneurs and those who plan to become self-employed.
  • Individuals who work for companies and will depend on their 401(k) for retirement will learn the nuts and bolts of the program too.
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Curriculum For This Course
25 Lectures
Introduction to the fantastic Solo 401(k)
3 Lectures 05:15

This lesson provides an overview of the course.

Preview 01:24

After this lecture, you will understand the characteristics of the solo 401(k)s and how they can help you reach your personal finance goals.

Preview 01:32

This lecture will help you avoid compliance issues by teaching you the eligibility criteria.

Preview 02:19
Giving it to you straight (1): Biggest advantages
4 Lectures 09:34

This lecture will teach you the skills needed to reduce your tax liability, year after year.

Preview 02:46

This lectures helps you distinguish between active and passive income. It drills down to the nuts and bolts of how you can save hundreds of thousands of dollars for retirement.

Preview 04:01

Hire your spouse!

Easy set up
1 page

Quiz 1
1 question
Contribution limits: How much can you stash away?
6 Lectures 22:41

You will learn the amazing amounts of dollars you can save each year.

Contribution limits

This lesson teaches you how to calculate your self-employment taxes which determines how much you can contribute to your account.

Calculate your self-employment tax first

This lecture teaches you how to maximize your savings and reduce your tax liability if you are under the age of 50.

Single under 50 example: Susan

After this lecture, you will learn how to supercharge your savings as a married couple under the age of 50.

Married under 50 example: Brian

This lesson will teach you how a high income earner maximizes contributions.

Single 50+ example: Pam

Married 50+ example: Kyle
Need a loan?
1 Lecture 04:14

This lecture teaches you the nuts and bolts of taking out loans from your 401(k).

Need a loan?
Risk Tolerance, the market and investment choices
3 Lectures 06:41

This lesson teaches you the skills you'll need to determine your risk tolerance- A key factor in determining how invest your money.

Determine your risk tolerence

After this lesson, you'll understand why your funds are invested in the stock market.

Your 401(k) and "The Market"

In this lesson, you'll learn they key elements to the investments inside your 401(k).

Investment options
1 page

Test your knowledge of loan limits.

Quiz 2
1 question
Giving it to you straight (2): Minor drawbacks
3 Lectures 06:16

This lesson will help you avoid the 10% tax penalty if you consider making a withdrawal from your 401(k).

10% Early withdrawal penalty: Avoid like plague

Administrative costs and fees: Be careful

Some plans may not offer loans or Roth 401(k)
401k Distributions
4 Lectures 19:50

This lesson teaches you the standard distribution guidelines.

Retired.. ..Finally! How do you begin withdrawals?

This lecture walks you through the steps to begin withdrawing the minimum amount of funds from your solo 401(k).

Your Required Minimum Distribution (RMD)

This lesson teaches you how to avoid stiff IRS penalties because of incorrect RMD withdrawals.

Penalty for incorrect RMD

What happens to your 40(1)k) when you die?

Quiz 3
1 question
1 Lecture 00:33

This lecture sums up the benefits you will receive after taking the course.

Course conclusion
About the Instructor
Shawn Jones-Oxendine
4.8 Average rating
3 Reviews
218 Students
1 Course
Personal Finance Instructor

Hello, I’m Shawn. I’m a personal finance education consultant. Making personal finance topics simple and easy to navigate, is my passion. I hold two master’s degrees-one in financial management and the other in human resources management (June 2016).

I like to focus on personal finance topics that go beyond budgeting and debt management. There are plenty of resources available for those topics. I teach more advance topics such as insurance planning, investment planning, tax planning, estate planning and retirement planning.

I served in the Navy for over 20 years as a Naval Officer. I have a lovely daughter who loves to ride horses and two very spoiled golden retriever dogs. I look forward to creating courses for students here on Udemy.