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Are your employees messing up your retirement? They could be costing you a small fortune!

Are your employees messing up your retirement?
They could be costing you a small fortune!

Are you utilizing a defined benefit plan? If designed right, these plans can allow you, as the employer, to contribute and deduct upwards of $200,000 or more per year into your retirement savings.

If you’re a high-income taxpayer in the 39.6% tax bracket, this can yield you a realized tax savings of $79,000 or more! Compare this to the maximum deferrals you can contribute to your 401(k) topping out at $18,000, $24,000 if you are age 50 or older.

This quickly becomes a no-brainer for high-income business owners.

Not only are you able to contribute and deduct more in a defined benefit plan, but you’re also allowing MORE of your money to compound over time until withdrawn. Compare making 200,000 in pre-tax contributions versus if you would take that same $200,000 and pay the tax of $79,200; yielding you now just $120,800, versus if you were to keep that full $200,000 and invest it, compounding over time.

As a third benefit, you may be able to distribute your funds at retirement when you’re in a lower income tax bracket versus where you are today.

If you haven’t taken advantage of some of these available options, then your employees are effectively reducing the quality of your retirement!

As an example, one of our clients was a 53-year-old dentist who was in the 39.6% tax bracket. He had a traditional safe harbor 401k and was only able to make contributions for himself of $24,000 per year, while also having to make non-elective matching contributions of 3% of compensation for all of his employees. We were able to design a plan in which he was able to contribute $235,654 per year into his retirement plan, all TAX DEDUCTIBLE, while only having to contribute $5,105 to his employee’s individual retirement plans.

Setting up a defined benefit plan can be time consuming and requires the use of an actuary, and most CPA’s and financial planners don’t discuss these options with their clients because they are unfamiliar with these plans or are simply not willing to perform the due diligence necessary to see if it is in your best interest.

However, this is one of the many wealth preservation options we provide to our clients!

If you’re looking to reduce your taxes, grow your retirement funds, or achieve that sunset retirement you’ve always dreamed of, we can show you how!

Schedule a No-Obligation consultation with one of our experts.

As a professional and business owner, you work hard every day to drive revenue and build up your business, but are letting your retirement dreams slip away?

In 15 minutes or less, we’ll be able to show you how we:

  • Help you minimize your business and personal taxes.
  • Help you design and plan your own personalized pension plan.
  • Help you protect and grow your money and help you retire with an extra 2 to 3 Million dollars!

Schedule your no-obligation consultation today!
Click the button below, or call today 877-455-3055

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