Everything You Need to Know about Retirement Planning
Welcome to another insightful episode of the Profit with Law Podcast! In today's episode, Moshe Amsel is joined by retirement plan expert, Courtenay Shipley, to delve into the intricacies of retirement planning as a business owner. This conversation explores everything from maximizing contributions to 401K plans and passing non-discrimination testing, to the complex world of profit sharing and cash balance pension plans.
Courtenay shares her compelling backstory, explaining how a bad experience with her employer led her to establish her own firm. Together with Moshe, they discuss the competitive landscape of retirement planning, the strategic use of employer contributions, and the crucial role of tax considerations in retirement planning. Small business owners will gain valuable insights on structuring compensation packages to attract and retain top talent, with actionable tips on profit sharing and deferred compensation plans.
Tune in now for actionable insights that could transform your business and enrich your employees' futures!
Episode Highlights
[00:00] Introduction to Courtenay Shipley
[07:46] Maximizing 401K Contributions for Business Owners and Employees
[17:16] QBI - Qualified Business Income Deduction
[21:15] Employee Incentives
[28:49] Handling 401k Plans Effectively
[32:48] Which Retirement Plan is Right for You?
[36:34] Retirement Plan and Taxes
Resources
Take the Law Firm Growth Assessment and find out how you rate as a law firm owner!
Check out our Profit with Law YouTube channel!
Learn more about the Profit with Law Elite Coaching Program here
Connect with Courtenay Shipley: LinkedIn | Company’s LinkedIn | Website
Episode 40 - Lessons From The Life Of A Giant
retirementplanology.com/learnmore
About Courtenay Shipley
Courtenay is the founder and Chief Planologist of Retirement Planology, a consulting and registered investment advisory firm for corporate-sponsored retirement plans.
With a wealth of experience in the retirement plan industry, Courtenay not only offers her clients expertise in investment analysis, plan design, and employee education, but also helps them leverage their employee benefits in a way that supports their own business goals. She has worked with qualified retirement plans, developed strategies for third-party administrators, and conducted over 10,000 educational meetings.
Courtenay holds various designations including Accredited Investment Fiduciary™, Chartered Retirement Plan Specialist, Certified Plan Fiduciary Advisor, and Certified Exit Planning Advisor. She is also the esteemed president of the Retirement Advisor Council, and her outstanding contributions have earned her accolades such as Top Women Advisor, NAPA Young Gun, and FT Top 401 Advisor.
Connect with Courtenay Shipley on her LinkedIn. You can also follow her on Company’s LinkedIn and their Website.
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Author
Moshe Amsel
Author
Moshe Amsel the host of the Profit with Law podcast is not an attorney. As the owner of a successful accounting firm DreamBuilder Financial and Law Firm Growth coaching organization Profit with Law, Moshe has proven that there are better and different ways for a law firm to do business and be successful.
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