|
|
| |
|
The defined benefit plan is a powerful tax strategy for high income individuals with self-employment income. It's great for small business owners who want to catch-up on their retirement saving and save a tremendous amount on taxes.
Cl
ick
here
,
or in the image below, to view our
latest webcast on Defined Benefit Plans. Or copy the this link
Click
here to read a case study.
Why is a defined benefit plan a powerful tax strategy for high income individuals with self-employment income and small business owners?
The small business defined benefit (DB) plan is an IRS-approved qualified retirement plan that allows independent professionals and consultants, individuals with self-employment income and small business owners to make large contributions and accumulate as much as $1-2 Million in just 5-10 years. The contributions are deductible and can potentially reduce income tax liability by $40,000 or more annually. To read more about examples where a defined benefit plan would be beneficial click
here.
New Flexibility in Defined Benefit Plans
Independent professionals and consultants, small business owners, and individuals with self-employment income often are so busy with their day-to-day responsibilities that they don't take the time to think about preparing for the day they finally retire. Since they aren't thinking about the future - at least not one that includes life beyond their daily work - they may not accumulate retirement savings sufficient to maintain their pre-retirement lifestyle. Business owners are also more likely to put the needs of their business ahead of their well-being... to read more click
here.
Robert J. Pyle
Diversified Asset Management, Inc.
Certified Financial Planner (CFP)
Chartered Financial Analyst (CFA)
|
|
Second Opinion Offer
We will meet with your friends, family members and associates for a Discovery Meeting. Assuming that we both agree that we have a basis for working together, they will return for the Investment Plan Meeting. Hopefully, we can confirm they are on track to fulfill their values and achieve their goals with their current financial provider. If needed, we will suggest ways in which we can help, including recommending another provider if we are not the best fit for their needs. Either way, they will receive a Total Client Profile and a personalized analysis of their current situation.
While we work with clients in a wide array of professions and financial circumstances, as dedicated, highly trained, and Certified Financial Planners® (CFP®s), our team specializes in addressing the complex financial challenges and opportunities of the following individuals:
Self-employed Professionals
are their own masters, which makes them responsible for every aspect of their professional lives-from marketing, to business development, to job production. This often leaves little time for financial planning. At Diversified Asset Management, we serve as the CFO for the "company of one," manage every aspect of finance, including personal asset and wealth management, cash flow planning, defined benefit and Single 401(k) plan strategies, and tax planning
.
Corporate executives
juggle demanding schedules and a plethora of responsibilities. This means they often do not have the time or desire to manage their own finances. At Diversified Asset Management, we help by managing the creation and day-to-day maintenance of our clients' wealth management plans. From personal asset and wealth management, to individual stock option and qualified retirement planning, to comprehensive financial planning
, we deliver reliable, and personalized services and advice.
Small business owners
place an incredible amount of time, energy, and resources into driving the success of their own businesses. As a result, they have little time to actively manage their own personal resources. At Diversified Asset Management, we help successful business owners with the personal and business aspects of wealth management, including retirement plan consulting, tax mitigation, cash flow planning, estate planning, and long-term wealth management
for both business and family assets.
Retirees
have accumulated their wealth and are now concerned with preserving their wealth and making their money last. At Diversified Asset Management, we help retirees with
personal asset and wealth management
by determining the appropriate investment mix and implementing tax efficient withdrawal strategies. When investors reach the withdrawal stage there is a whole new set of concerns that we can properly address with our many years of experience. These items include taking required minimum distributions, college planning for grandchildren, gifting assets to children, beneficiary reviews and legacy planning.
Young Professionals
are extremely busy and are often focused on the balance of growing their wealth with the demands of starting a family. At Diversified Asset Management, we understand that young professionals often don't have the time necessary to spend learning about investments and wealth management so they typically have concerns about making the right decisions regarding their growing wealth. Our smaller account offerings provide these individuals and their families with the option to take advantage of our personal asset and wealth management services.
We are looking for young professionals that have a certain multiple of their salary in savings, such as 1 times their salary at age 35, 2.38 times their salary at age 40 or 3.75 times salary at age 45. Naturally, we interpolate in between and outside of those ages. In short, we want to work with young professionals that are also saving 15% of their salary in addition to the above salary/savings multiple. We want young professionals who are committed to financial success.
|
|
If you have any questions pertaining to any of the topics discussed in this eNewsletter, or questions about a specific situation, please contact us at office@diversifiedassetmanagement.com
|
Important information about Advisory Services
Diversified Asset Management, Inc. (DAMI) is licensed as an investment adviser with the State of Colorado Division of Securities, and its investment advisory representatives are licensed by the State of Colorado. DAMI will only transact business in other states to the extent DAMI has made the requisite notice filings or obtained the necessary licensing in such state. No follow up or individualized responses to persons in other jurisdictions that involve either rendering or attempting to render personalized investment advice for compensation will be made absent compliance with applicable legal requirements, or an applicable exemption or exclusion.
This e-newsletter is for informational purposes only and does not constitute a complete description of our investment advisory and financial planning services or performance. Past results are not an indication of future performance. The opinions expressed are those of Diversified Asset Management, Inc.
|
|
|
