Is A Pension Plan Right For You?
If you answer yes to these six questions, a defined benefit plan may be worth a look.
- Are you at least 50 years old?
- Are you lagging in your retirement savings?
- Can you afford to set aside more than $70,000 a year--and preferably at least $100,000 a year--for retirement savings for the foreseeable future?
- Does your business generate at least a few hundred thousand dollars a year in income?
- Is that income consistent and predictable?
- Are your employees (if you have them) generally younger and less well paid than you are?