Client of the Week: High Income Self Employed Stories Dedicated DB

Client of the Week

This Week

From Highly Classified to High Income

A 56-year-old former federal government official switched his classification by becoming a consultant for the intelligence agency. The consultant made $1.5 million in 1099 income and wanted to save on taxes and build his retirement. He opened a Defined Benefit and 401(k) combo plan, putting $229,800 into the DB plan and $41,800 into the 401(k). His projected accumulation will be $1,636,000 and he will save $85,000 on taxes this year.

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