Disruptive Money Management

Many would think that during a coronavirus pandemic, the least of our worries is finding people willing to work but yet that is the encounter many business owners are facing this summer. The Great American Labor Shortage of 2021 is driven not only by health-related fears but also as the largest working generation, Millennials and Gen-Z shift their mindset regarding work-life balance. 

Join Henry as he uncovers the five most common reasons why Millennials and Gen-Z are making career changes and how business owners can best adapt to this changing tide. The five most common reasons also displays how business owners can shift with the times and offer practical solutions to not only attract but also retain talented employees in turbulent times.

Have you ever wondered whether you should sell your company stock or continue holding onto it for the long haul? What you should do ought to be based on the questions you have on your overall financial life. Remember that company stock is just an instrument to help you achieve your overall financial goals. Before deciding what to do, join Henry as he asks you the three fundamental questions relative to the financial life that you need to answer before deciding whether you sell or not.

In this latest episode of Disruptive Money Management, Henry goes over the Simple IRA plan and why for many years it was the go-to for small business for retirement solutions. While the Simple IRA may have low to no implementation cost and very minimal in employer annual administrative expense, the plan itself can be loaded with very expensive fees that can quickly add up.

Henry highlights the advantages and disadvantages of the Simple IRA plan in today's modern retirement environment. A follow-on segment will bring the same level of detail for the 401(k) as well as an overarching comparison between the two.

For more information or to contact Henry, please visit www.disruptivemoneymanagement.com.

Join Disruptive Money Management with Henry Wong in this latest episode on defined benefit plans. The defined benefit plan is often overlooked for retirement planning because of the complexities and intricacies involved in running a successful defined benefit plan.

The defined benefit plan, otherwise known as the pension plan, has historically fallen from popularity because of the high employer cost of funding guaranteed retirement income for all of its employees. For a Fortune 500 company, this could be coverage for hundreds of thousands of employees.

However; the resurgence of popularity for defined benefit plans is actually coming from small business owners and solo entrepreneurs. For high-income earners with a small business, these individuals can shelter away up to $230,000 from taxes and put it towards tax-deferred investment vehicles for retirement planning purposes.

In this episode, Henry goes over the history of defined benefit plans and how they can be used to maximize retirement savings for small business owners and solo entrepreneurs. For further information, please feel free to reach Henry at www.disruptivemoneymanagement.com.

Join Henry in his latest episode on why retirement savings for solo entrepreneurs can be more easily accessible than most people think. Henry goes into the differences between the SEP IRA and the Solo 401(k) for solo entrepreneurs and how saving for retirement outside of corporate America is easier than expected.

With monetization on content creation and the readily available access to digital media, solo entrepreneurship has never been higher. Solo entrepreneurs are defined as those that work for themselves and this can either be done full-time or part-time as a side hustle. Flexibility, mobility, and lack of having a boss are what's currently making solo entrepreneurship a top choice for content creators. Whether you're a graphic designer, a fitness trainer, or a Youtuber; saving for retirement is just as important

With the advent of digital communication and content creation, solo entrepreneurship is seeing a resurgence in comparison to traditional 9 to 5 gigs. The solo entrepreneur is defined as those that work for themselves and this can either be done full-time or part-time as a side hustle.

The millennial generation especially puts flexibility, passion, and freedom as the most important aspect of a work-life balance which is why this generation is gravitating towards becoming solo entrepreneurs.

Saving for retirement is just as important when it comes to solo entrepreneurship as it is for corporate America. Additionally, there are areas where full-time and part-time entrepreneurs can dramatically save on taxes while saving more than what a traditional W-2 employee can set aside in a company-sponsored plan.

For more information on Solo 401(k) Plans, please feel free to contact Henry at www.disruptivemoneymanagement.com.

Join Henry as he goes over the current housing market environment and what has led to home prices reaching all-time highs and entering into bidding wars. If you're on the fence on buying a house or have told now is the best time to buy a house, please be sure to give this a listen before diving into what will effectively become the biggest purchase of your life.

While interest may be at all-time lows, the inherently low-interest rates do not necessarily mean this is the best time for you to buy. Buying a house and making that large 15 or 30-year commitment takes a level of responsibility and it should only be done for the right reasons. Do not enter into a home purchase transaction simply because you're being told that carrying a mortgage is the exact same thing as being a renter but with equity. The true cost of owning a home lies in the upfront cost and continued additional maintenance. 

Before buying a house, please follow the steps taken in previous episodes on eliminating your outstanding debt and getting on the path to financial freedom.