H1: Retirement Plan Options for Self-Employed Individuals and Small Business Owners
H2: Should You Invest in a SEP IRA or Solo 401(k)?
H3: Exploring Retirement Plan Choices for Self-Employed Physicians and Medical Practice Owners

If you’re a self-employed physician or a medical practice owner with few to no employees, you may be wondering what your retirement plan options are. Fortunately, there are two retirement plans specifically designed for self-employed individuals and small business owners. The Physician on FIRE shares valuable insights and information on the topic in their article titled “Should You Invest in a SEP IRA or Solo 401(k)? Everything You Need to Know.”

H2: Harnessing the Power of Compound Interest and Future Value
H3: Understanding the Magic of Compound Interest and Setting Financial Goals

Compound Interest is a powerful force when it comes to building wealth. It emphasizes the importance of time in growing your investments. Similarly, Future Value is a beneficial tool that helps assess your financial independence goals and determine your savings rate to achieve those goals. The author of Retire Before Dad delves into these concepts to help you define your financial goals and make informed decisions about your investments in their post titled “Future Value and the Magic of Compound Interest.”

H2: Challenging Retirement Savings Assumptions
H3: Revisiting the 4% Spending Rule and Strategies for Spending More in Retirement

Multiple studies and surveys reveal that most Americans overestimate the amount they need to save for retirement. Additionally, the conventional rule of a 4% spending rate in retirement is increasingly being challenged and debated. In response, the author Of Dollars And Data discusses an important concept that allows individuals to spend more in retirement without increasing the risk of running out of funds. Discover more about this fascinating concept in the article titled “How to Spend More in Retirement.”

H2: The Pros and Cons of Taking a Sabbatical
H3: Maximizing the Benefits of a Work Break: How to Take a Sabbatical

A sabbatical presents an opportunity to take a break from work for personal or professional reasons. While it offers apparent benefits such as reduced stress and increased family time, it also comes with its share of challenges, including potential career setbacks and financial implications. If you’re considering taking a sabbatical, the author of Cutting Through Chaos shares their perspective on how to make the most of this time off in their post titled “How to Take a Sabbatical.”

In conclusion, this week’s Journal Club features insightful articles on retirement plan options for self-employed individuals, the power of compound interest and future value in financial planning, strategies for spending more in retirement, and tips for making the most of a sabbatical. As always, we encourage you to share any interesting articles you’ve come across in the comments below.

Hot take: When it comes to retirement planning, self-employed individuals and small business owners have unique options that cater to their specific needs. By exploring retirement plan choices, harnessing the power of compound interest, challenging traditional spending rules, and understanding the pros and cons of taking a sabbatical, individuals can make informed decisions to achieve financial goals and improve their overall well-being.

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Benjamin Low
Benjamin Low

Benjamin is known as The Passive Income Guy. He has helped hundreds of people to build passive income. He is also a member of the Million Dollar Round Table, and Certified Financial Planner™ (CFP®) and Certified Private Banker (CPB).

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