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The Self-Employed Cash Balance Plan

The Self-Employed Cash Balance Plan

Small Business Owners Can Benefit from These Plans in More Ways Than One

Within many companies, employees enjoy a plethora of benefits that come along with their salary. Typically, there’s paid time off, health insurance, and for some, access to retirement savings accounts through the employer. One way a company may offer to help their employees save for retirement is through a cash balance plan, which works almost like a traditional pension plan but with some differences that make it attractive to small business owners. In essence, a cash balance plan provides self-employed individuals the opportunity to make sizable contributions to a retirement savings account while also enjoying tax benefits for their businesses.

This is an important option to consider because, oftentimes, self-employed individuals end up robbing themselves of the benefits that others get because they’re focused on putting all their money and resources into their business. However, cash balance plans come with tax benefits that significantly help any self-employed individual in the present, while offering a valuable way to save for retirement, too.

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Zach Morris is Interviewed for Remarkable! Radio Show | Financial Advisors around the Country

Zach Morris on Remarkable!

Mark Imperial, host of the Remarkable! Radio Show, sits down with Zach Morris, as part of a series spotlighting remarkable financial advisors from around the country. Zach shares why he founded Paces Ferry Wealth Advisors, the importance of the client experience, setting clients up for retirement success, and whether the pandemic has changed financial planning. Zach and Mark discuss why steady hands prevail in any type of environment, and why a full financial plan is more important to clients than simply focusing on a particular level of risk.

OTHER PACES FERRY NEWS


Paces Ferry Wealth Advisors, LLC is a registered investment advisor with the U.S. Securities and Exchange Commission (“SEC”).  This material is intended for informational purposes only. It should not be construed as legal or tax advice and is not intended to replace the advice of a qualified attorney or tax advisor.

Zach Morris was Recently Featured in CNBC Article for New Parents

Zach Morris was Recently Featured in CNBC Article for New Parents

In an article published by cnbc.com providing financial advice for new parents, Co-Founder Zach Morris offered his insight on childcare and healthcare. Here’s a snip of the article:

Adding another member to your family also adds a myriad of new financial considerations and expenses. A middle-class couple can expect to spend more than $230,000 to raise a child, not including college costs. One estimate found that by 2036, four years at a private university will cost around $303,000, up from $167,000 today.

Childcare and health care

Childcare is often the biggest immediate expense new parents will face, Richardson said. (Many families will spend more than $1,000 a month on the care.)

In some cases, one parent will decide to leave their job and take care of the child themselves, said Zach Morris, a CFP and founder of Paces Ferry Wealth Advisors in Atlanta.

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Zach Morris Gave Insight on Health Insurance in Recent Article Published by U.S. News

In an article published to provide new parents some budgeting tips by money.usnews.com, Co-Founder Zach Morris offered his insight and expertise on how childbirth may influence your health insurance plans. Here’s a snip of the article:

Revaluate Your Health Insurance Coverage

Spend time analyzing your health insurance plan to understand all your potential out-of-pocket costs. You may also want to consider switching plans. For instance, opting for a low-deductible plan may cost more on monthly premiums but may reduce your total out-of-pocket spending on baby-related medical expenses.

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Zach Morris featured in Recent Article Published by Statefarm

wealth transfers

In an article published on statefarm.com this month, Co-Founder Zach Morris offered his insight and expertise on wealth transfers.

5 Things to Understand about Wealth Transfers

One reason some people focus on building wealth over a lifetime is to be able to pass along resources and provide opportunities to their children and grandchildren. But it takes time and planning — as well as conversations about expectations and shared values — to have this transfer work well for everyone.

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Zach Morris featured in Article by Statefarm.com

5 Things to Understand About Wealth Transfers

From gifting money to children to transferring ownership of a home, it’s important to understand some parameters for the best way to pass on inheritance.

One reason some people focus on building wealth over a lifetime is to be able to pass along resources and provide opportunities to their children and grandchildren. But it takes time and planning — as well as conversations about expectations and shared values — to have this transfer work well for everyone.

The concerns about wealth transfer vary, from worrying about estate taxes to keeping a home in the family. So what is the best way to pass on an inheritance and set up an estate transfer the way you want? Consider these steps.

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Connor Jabs Promoted to Associate Wealth Advisor

We are pleased to announce the next step in the career path for one of our team members.  Please join us in congratulating Connor Jabs on his promotion to Associate Wealth Advisor. From day one, Connor exhibited an incredible commitment to client service and understanding of the Paces Ferry Wealth Advisors’ mission.

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