Besides being our marital partners, our spouses are often our strategic business partners. They act as our sounding board, entertain clients, attend business social functions, fill in at the office when short-handed or perform civic and charitable work we volunteer for but do not have the time to do.
If your business maintains a 401K or other retirement plan consider employing your spouse to help boost your family retirement savings.
Making a $20,000 contribution for 20 years at 4% compounded growth accumulates to over $600,000. Using the Roth provisions of the plan funds can be distributed after age 59 ½ tax and penalty free.
Planning your financial future is complex and means juggling many balls. Our experienced professionals at KRD can help guide and keep you on course. Contact us today to learn more.
