In uncertain times, which recession-proof jobs should you be targeting?
27th Jun 2022
We know that recent media coverage about the economy can scare some clients – and even make them want to put their retirement plans on hold. While no job is truly recession-proof, we recommend Defined Benefit and Cash Balance retirement plans for your clients in industries that are not easily impacted by an economic downturn. These include occupations like:
|– Medicine – including anesthesia, dentistry, plastic surgery, psychiatry and tele doctors
– Consulting – including management consulting, IT consulting and environmental consulting
– Law – including medical attorneys, intellectual property attorneys, and tax attorneys
The 3 key benefits of Defined Benefit plans for high-income professionals (who are typically owner-only, owner + spouse or family business) include:
|1. They potentially allow the highest tax-deductible contributions – averaging $100,000+ each year.
2. They can provide tens of thousands of dollars in tax savings.
3. They can help clients build wealth for the future — regardless of the economy or time of year.
There are many other high-income occupations that can benefit from these plans — any time of year and in any type of economy like farmers, software developers, engineers, and more. You can provide high-income clients certainty during uncertain times by recommending a high-contribution retirement plan. As always, contact us with any questions at 866-269-2706.