Brent Henningson talks about how a defined benefit plan can help business owners to accelerate retirement savings and reduce taxes.
In this episode, you'll learn:
- If your income allows for it, how to save up to $3mm in retirement savings
- Differences between 401(k) retirement plan and a defined benefit plan
- Professionals needed to set up and maintain a defined benefit plan
Show notes: http://www.inspiredmoney.fm/153
Find more from our guest:
Mentioned in this episode:
- The Side Business Defined Benefit Plan. When a Solo K Isn’t Enough.
- TD Ameritrade Road to Retirement Survey
- Benefits of 401(k) plans for business owners
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Special thanks to Jim Kimo West for the music.
If you're a business owner, are you interested in saving $100,000 or more every year?