In today’s world of increasing taxes and expenses, people are finding it more difficult to save money and prepare for the future. Right now, 401(k) and profit sharing participants can only contribute and tax defer about $50,000 per year.

However, many people are desperate for larger tax deductions and accelerated retirement savings. This presents an opportunity for advisors, who can help clients accomplish their objectives through a cash balance plan, which allows contributions of up to $250,000 per year (depending on age).

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