They banked on the value of these plans. That’s why 12% of our clients in 2018 were independent RIAs and CPAs who opened plans for themselves.
Example 1: A 60 year-old financial advisor in Connecticut, operating as a sole proprietor, opened a Defined Benefit plan and was able to contribute $120,000 based on an earned income of $320,000. He will accumulate $671,000 if he continues the plan for five years.
Example 2: An RIA in Texas opened a combined Cash Balance + Safe Harbor 401(k)/Profit Sharing retirement program for his firm.
Contribution for Owner = $268,000
Business Contributions for 1 Employee = $13,500
Percent of Contribution for Owner = 95%
Estimated Tax Savings for Owner = $107,000
How to have similar success: Call 866-269-2706 to see if you or your clients qualify. You can also use our Defined Benefit calculator for a tailored proposal.