How to Build Wealth and Defer Taxable Income Using a Defined Benefit Plan
A Defined Benefit Plan has the potential to provide the largest annual tax deduction, as well as the highest benefit, of any other qualified retirement plan.
Explore this advanced strategy for accumulating retirement assets. It's not what you make, it's what you keep.
A defined benefit plan is a qualified employer-sponsored retirement plan that is funded soley by the employer (in most cases)
These contributions are excluded from income and grow tax deferred. In addition, contributions can be deducted from business income.
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About the Author
Brock Bennion, PH.D
I am a Scientist who became a financial advisor. Here’s my story:
I gravitate towards innovation and entrepreneurship. In undergrad, I co-founded a Clean-Tech company thinking that would be my career. Life is never that simple. Less than a year after graduating that company fell apart.
I felt if I had a stronger technical background, I could be a better founder. Plus, I always enjoyed Biomedical Research. So I went back to school and completed my Ph.D training in Immunology. I LOVED it!
Nothing compares to the thrill of discovery! But being a scientist is only part of my identity.
I am also a husband, father 3x, active in my church, and committed to serving in my community. I wanted a career that kept me close to science but allowed me to follow other interests as well. For me, that was helping scientists, and science-minded individuals streamline their financial life so they can focus on the things that matter most to them. Here is how I do that…
A Ph.D is different from other degrees. In a Ph.D. you are expected to create NEW information. Not just learn from a book, but figure out a gap in human knowledge, design a plan to fill that gap, and execute.
In finance, the principles are broadly applicable, but each client is different. What a specific client needs to know is not always found in a book or on google. It is sometimes a gap in human knowledge. And finding good answers, true answers, is something I am passionate about.