Estate planning often involves a team consisting of an attorney, a financial professional, an insurance professional, and yourself. However, whether you are establishing a new estate plan or revising an existing one, only you can provide the guidance, direction, and information your estate planning team needs to develop an effective plan. Most estate planning efforts begin with...
Author: Kenner French
Cash Balance Plans Can Make You Rich! But What are They?
There are two general types of pension plans — defined benefit plans and defined contribution plans. In general, defined benefit plans provide a specific benefit at retirement for each eligible employee, while defined contribution plans specify the amount of contributions to be made by the employer toward an employee’s retirement account. In a defined contribution plan, the...
An Entrepreneur with ZERO Employees? Yes, to a Big Boy 401(k).
Ever wonder if an entrepreneur with no employees can start a 401(k) — just like the “Big Boys?” Meaning, do you have to employees to start a retirement plan? Yes, an entrepreneur or small business person with no employees can, in fact, have a 401(k) plan just like Boeing’s plan, Google’s plan, or Microsoft’s plan. The difference,...