While most professionals know about 401(k) plans and IRAs, few know about the power of a cash balance plan in connection with a 401(k) or profit-sharing plan. This type of defined benefit plan can help small business owners defer an enormous amount of income into the future.
This course will look at the tax planning opportunities that small business owners have when planning for retirement. We will also identify the ideal candidate for a cash balance plan and what funding strategies might make sense, in addition to some of the rules governing their administration.
While this type of pension plan is not for everyone, the opportunity to defer substantial amounts of income into lower tax years can help owners become tax efficient and save for some of their employees’ retirement at the same time.
Learning Objectives:
Divergent Wealth
Wealth Advisor
[email protected]
(385) 237-4000
Growing up in Arizona, Rizek worked for his father through the summer heat in the mechanic shop. It was there that he developed a deep appreciation for hard work and client service. Rizek believes in the importance of living frugally and saving for the future, the foundation of prudent living and investing. While he was working under that hot desert sun, he realized he needed to pursue a valuable education.
Early in life, Rizek discovered his love for teaching and helping individuals succeed. This desire to learn and teach others motivated him to attend Brigham Young University’s Marriott School of Business.
While at BYU, Rizek became interested in accounting and personal finance, eventually receiving a bachelor’s and master’s degree in accounting. He began investing for the first time in college and quickly became excited about the idea that money could work for him. He began his career with KPMG on the Deal Advisory team in San Francisco and Denver. While at KPMG, Rizek became a CPA and gained a strong financial background.
When Rizek is not dreaming about financial planning, you can find him on the river fly fishing. He believes that being outside with his adventurous wife, Emma, makes life exciting. They love to fish, ski, cycle, and sing Disney songs together.
Divergent Wealth Advisors is a Family "Chief Financial Officer," a Wealth Planner, a Financial Adviser, a Portfolio Manager, an Estate Planning Adviser, and a Tax Strategist, all under the same roof.
Divergent Wealth Advisors is a long-term financial partner who can serve generations of a family and can simplify complicated things, playing the role of an educator and an adviser.