Getting A Good Start
Changes In Your Situation
Law Changes - Keep Up And Amend
Changing Plan To Keep Up
Keeping Your Plan After Retirement
Spending - Retirement Or A Rainy Day
Leaving It To Your Heirs

Changes In Your Situation

Please call us as soon as you know of potential changes in your situation. We can help you plan for the future, and such planning will save you a lot of concerns down the road.

  1. Changing your business/ becoming an employee
  2. Buying/selling a company
  3. Adding new Employees
  4. Adding your spouse/children as paid employees
  5. Increase/reduction in business income
  6. At the point of actually retiring

Changing your business/ becoming an employee:

  • You might become an employee of another company, you might decide to expand your business by adding a lot of employees, you might buy a piece of another business

Buying/selling a company

  • We can really be useful in preparing for the sale, and guiding you through the options for your retirement plan – our guidance and support will carry a lot of weight with the purchasing/selling company’s advisors

Adding new employees

  • we might suggest to you alternatives: 1) freezing or terminating your existing plan, 2) adding on a second plan but dramatically revising the main plan to provide you with the major benefits, or 3) other useful alternatives as the situation warrants.

Adding your spouse/children as paid employees

  • if your spouse is an employee and your company pays a salary of $20,000 to he or she, if you have a 401k plan your spouse can put $16,500 into the 401k ($22,000 if he/she is age 50 or over), and deduct this employee deferral on the W-2
  • similarly, if your children perform valuable services, and you pay them $11,000, they can each have an employee deferral of $10,000 deducted on the W-2 with a 401k plan
  • if you adopt a Defined Benefit plan, the contributions for a spouse can be much higher

At the point of actually retiring

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