Bjork OstromHostAaron RandhawaGuest
I would say maybe, like, if somebody's m- with your site, if you're making more than 100,000 and you haven't set up an S corp, it's...

I would say that's maybe the tipping point of when it would make sense to talk to your accountant and say, like, "Hey, does it make sense for me to set up an S corp and pay myself a salary so you're not having to pay quite as much in self-employment tax?" Um, I, I think, um, you know, we'll just go full nerd mode on this podcast, uh, which is great.

You had mentioned squirreling money away, and I think one of the things that people think a lot about is, like, number one, how do I get my business to a point where I'm making enough to... for this to be a substantial income?

Then once people are making a substantial income, the... or even just, like, an adequate income, a salary, then the question becomes, like, how do I be strategic in saving and investing? And you mentioned SEP IRA.

but can you talk about that a little bit, like some of the, um, intentional decisions you've made about investing? 'Cause I think that's a really important piece as well for people to think about.
With investing, um, so yeah, right now, like the, uh, the two of us on the S corp, we have a 401k self-employed.
Um, and, um, just one of the things, uh, you kinda hear about, uh, in The Economist over and over again is just, uh, um, it's the market, right? So luckily for, I'm sure, a lot of your listeners, um, in the US, we, we live, uh, in, uh, in the largest economy in the world.
So, um, how do I say this? So with, uh, with that, um, the market, uh, if you kinda conceptualize that into, like, the stock market as a whole, one way to track that is through, like, the S&P 500 index.
So it's the top 500, um, profitable companies, um, that are publicly traded.
So, um, one of the best ways that's been proven to generate money when you're saving it, um, is putting it on the stock market and putting it on a investment, uh, ETF vehicle like IVV or, uh, VOO, which are basically tracking that index.
Um, and to, to be on that index, you have to be profitable for a number of quarters in a row and be one of the, those top 500 companies.

I would say maybe, like, if somebody's m- with your site, if you're making more than 100,000 and you haven't set up an S corp, it's...

I would say that's maybe the tipping point of when it would make sense to talk to your accountant and say, like, "Hey, does it make sense for me to set up an S corp and pay myself a salary so you're not having to pay quite as much in self-employment tax?" Um, I, I think, um, you know, we'll just go full nerd mode on this podcast, uh, which is great.

You had mentioned squirreling money away, and I think one of the things that people think a lot about is, like, number one, how do I get my business to a point where I'm making enough to... for this to be a substantial income?

Then once people are making a substantial income, the... or even just, like, an adequate income, a salary, then the question becomes, like, how do I be strategic in saving and investing? And you mentioned SEP IRA.

but can you talk about that a little bit, like some of the, um, intentional decisions you've made about investing? 'Cause I think that's a really important piece as well for people to think about.
With investing, um, so yeah, right now, like the, uh, the two of us on the S corp, we have a 401k self-employed.
Um, and, um, just one of the things, uh, you kinda hear about, uh, in The Economist over and over again is just, uh, um, it's the market, right? So luckily for, I'm sure, a lot of your listeners, um, in the US, we, we live, uh, in, uh, in the largest economy in the world.
So, um, how do I say this? So with, uh, with that, um, the market, uh, if you kinda conceptualize that into, like, the stock market as a whole, one way to track that is through, like, the S&P 500 index.
So it's the top 500, um, profitable companies, um, that are publicly traded.
So, um, one of the best ways that's been proven to generate money when you're saving it, um, is putting it on the stock market and putting it on a investment, uh, ETF vehicle like IVV or, uh, VOO, which are basically tracking that index.
Um, and to, to be on that index, you have to be profitable for a number of quarters in a row and be one of the, those top 500 companies.
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