As a successful medical professional, you may find yourself in any of the following situations:
1. Searching for additional tax savings.
2. Looking for ways to shelter more of your income for retirement or.
3. Looking for ways to “catch up” from financial hits your retirement assets may have taken in recent years, or from delaying the start of your saving for retirement due to student loans and children’s education.
Chances are that you already have a 401(k) plan that, depending upon your age, allows you to defer as much as $24,000, and when that is combined with a profit sharing contribution, you have the opportunity to shelter as much as $59,000 each year.
If so, don’t neglect taking a closer look at your retirement plan design strategy and, in particular, whether a cash balance plan might provide you with the opportunity to shelter two to four times that amount annually, on your way to accumulating as much as $2.5 million in additional money for retirement.
Continue reading to learn how a cash balance plan may be a viable option for you.
Length: 2 pages (PDF 125 kB)