Retirement Savings – March to a Million

Defined Benefit Plans: A Secret Weapon for Small Business Owners with Brad Barlow (Ep. 39)

By March to a Million | December 18, 2024

What if your financial future could change in ways you never imagined?

In this episode, Greg DuPont sits down with Brad Barlow, an actuary and “secret weapon” for business owners. They delve into the world of defined benefit plans and how these often-overlooked tools can be game-changers for people who’ve built a thriving business and now find themselves catching up on retirement savings. Greg and Brad explore the surprising flexibility and potential tax benefits these plans offer, particularly for small business owners and independent contractors. Learn how Brad transitioned from a Fortune 500 consultant to a specialized advisor helping folks maximize their retirement savings quickly and efficiently. This episode digs into specifics, including the mechanics of plan setup and the financial advantages that come with savvy retirement planning.

Greg and Brad discuss:

(5:12) How defined benefit plans can be beneficial for business owners
(8:20) Recent changes in pension law that benefit smaller plan sponsors
(12:45) The interplay between investment strategies and contribution limits
(24:20)Unique applications of defined plans for diverse professional profiles
And more

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Connect With Brad Barlow:

About Our Guest:

Bradford Barlow, Jr., FSA, EA

With over 20 years of experience as a successful actuary and retirement plan consultant, “Brad” Barlow is well-versed in the financial services industry.

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The Fourth Pillar of Financial Advocacy: Wealth Accumulation (Ep. 8)

By MarchToAMillion | September 27, 2023

Embarking on the journey towards financial security and prosperity requires more than simply making decisions. It also requires strategies to multiply and maximize wealth.

In this episode, Greg DuPont explores the fourth pillar of financial advocacy: Wealth Accumulation. He shares the three big secrets behind it along with valuable insights on how to optimize savings strategies and engage in valuable conversations with your clients. Greg emphasizes the importance of tackling debt and taxes to maximize wealth accumulation.

Greg discusses:

The three secrets of wealth accumulation
The drawbacks of relying solely on 401(k) for savings and the need to consider alternative investment options
The need to take more risks for higher returns in a pre-tax environment and how shifting to an after-tax world can reduce the required rate of return
The goal of Wealth Solutions Network to help the general public with their finances
The potential to cut down debt repayment time by being systematic with compound interest and alternative solutions to traditional retirement savings
And more!

Resources:

Are Attorneys Missing Out on a Valuable Opportunity with Long-Term Care? with Jeff Sather (Ep. 7)