Financially Simple

In episode 193 of Financially Simple, Justin and Jennifer McConnell take a look at adding a Cash Balance to a 401k plan. As a successful business owner, the provisions of the 401k might be too limiting, and you might want to increase the amount that you can put away - a Cash Balance might be the answer. Justin and Jennifer explain what a Cash Balance plan is, how it works, and who it's for. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! FULL TRANSCRIPTION: BLOG: Small Business Retirement Plan Comparison _________________   TIME INDEX: 01:13 - Adding a Cash Balance to a 401k Plan 03:32 - What is a Cash Balance Plan? 05:15 - How Much You Can Save? 08:27 - A Client Case Study 11:58 - The Stable Company Requirement 15:31 - Compensation, Personal Deferral, Profit Sharing… 16:32 - The Role of the Actuary 17:13 - Handle With Care 19:18 - How Long do They Last? 20:35 - Wrap Up _________________   RESOURCES: Financially Simple Educational Website Financially Sim