Is a Defined Benefit Plan Right For You?

Defined Benefit plans do not work for everyone; in fact they are often overlooked as a tax savings and retirement building tool because so few people meet the qualifications. For those professionals that do qualify the advantages are huge.

The best candidates for DB plans are high-income professionals who:

  • Have self-employment income (1099 and/or W-2) from:
    • A sole proprietorship or LLC, or
    • A C-Corp or S-Corp with 0-10 employees, or
    • Have side income from freelance work
  • Are 30 years of age or older
  • Earn at least $100,000 annually
  • Are willing and able to contribute more than $50,000 per year to a DB plan for at least 3 consecutive years

Typical Plan Owners Include:

  • Empoyees who also receive self-employment income from a side business
  • Business owners with up to 10 employees
  • Self-employeed spouses of high income earners
 

Typical Professions Include:

  • Architect
  • Attorney
  • Consultant
  • Dentist
  • Graphic Designer
  • Independent Corporate Director
  • Independent Insurance Agent

 

  •  Mortgage Broker
  • Orthodontist
  • Physician
  • Real Estate Agent
  • Small Business Owner
  • Software Developer

To read about how Defined Benefit plans are helping other high-income professionals.  Read our Case Studies.

 

 

To find out more about the process of creating a Defined Benefit plan, learn more here.