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I have answered many questions regarding 401ks, IRAs and annuities as well as life insurance. I have been counselling against most Qualified Plans since 1994.
Life Underwriters Training Council Fellow
I enjoy assisting retirement minded individuals and companies in creating programs that provided untaxed income at retirement.
I expect to continue to maintain my reputation as the expert that others can count on to provide the most accurate and complete information regarding retirement planning - both before and after retirement.
I have talked to a number of CPAs as well as a retired IRS accountant, all of whom agree that there is no real tax savings in Qualified Plans for those that succeed in their retirement planning.
401k plans favor the employee only when the employer is contributing to each participating employee's account. I recommend that employers not have 401ks
| User | Date | K | C | T | P | Comments |
|---|---|---|---|---|---|---|
| Delano | 11/13/09 | 10 | 10 | 10 | 10 | |
| Cary | 10/22/09 | 10 | 10 | 10 | 10 | Thanks for the fast response. If I ..... |
| Jean | 10/21/09 | 10 | 10 | 10 | 10 | Thanks so much for the information. I ..... |
| RJ | 10/14/09 | 10 | 10 | 10 | 10 | Thank you for your response. You've given ..... |
| Cheryl | 10/12/09 | 10 | 10 | 10 | 10 | Thank you so much for the info ..... |
Dear Delano, If I understand your question correctly, for those plans with which I am familiar, administration costs would be the responsibility of the employer. And as such, these costs would be deductible
Dear Brian, I commend you for thinking long-term. By starting now you gain the advantage of compounding interest over the longer period of time. However, though this term is often used in the marketing
Dear Richard, The short answer is me. For the record, I am now licensed in seven states. The most recent is Connecticut, this due directly to answering questions at this site. I have answered more questions
Dear Tracie, It appears that you may have been asking the wrong questions. If you mean a Money Purchase Plan, that is the same in function as a 401(k). The alternatives would have been a Defined Benefit
Dear Tracie, Can you give me more information? What do you mean by Money Pension Purchase? What is your motivation for having a 401(k) plan? How old is this employee? Is the employee also the owner?
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