Unleashed - How to Thrive as an Independent Professional 482. Gabe Nelson, Financial Planner for Solopreneurs
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Apr 4, 2022 Gabe Nelson, a seasoned financial planner and owner of an advisory firm, shares invaluable insights for solopreneurs. He discusses personalized financial planning, emphasizing cash flow management and the significance of a solid insurance plan. Gabe dives into retirement strategies, like maximizing SEP IRAs versus solo 401(k)s, and highlights the tax benefits of S Corporations. He stresses the necessity of comprehensive estate planning and offers practical tips on setting up emergency savings and wills. Tune in for expert strategies that could transform your financial approach!
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Financial Advisor Services
- Consider both planning and asset management when seeking financial advice.
- Planning involves structuring insurance, retirement, and college savings, while asset management focuses on investment choices.
Simple Financial Plan
- Create a simple financial plan focusing on key areas like cash flow, savings, insurance, and retirement.
- Keep it concise and easy to review, unlike lengthy, unused documents.
Life Insurance Advice
- Get plain vanilla term life insurance for maximum coverage.
- Consider other types only after understanding their specific benefits.