Client of the Week

This Week

Retirees Just Won’t Quit

At what age do clients retire? For some successful clients, retiring in their 60’s means the freedom to start their own company. Recently, we were approached by a Financial Advisor who was working with a newly retired client who decided to turn years of experience into a consulting business. He and a colleague who also had just retired, signed a 5-year contract with their former employer to consult on international projects to build manufacturing plants. They each have enough in pensions and other savings to support their current cash flow needs. They will each earn ~ $125,000, most of which will be used to fund a cash balance plan. Working closely with their CPAs and Advisors, we designed a plan that will shelter about 75% of their earnings. Large contributions = large deductions for at least the next five years!

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