Some crucial components of effective retirement planning include saving early and regularly, making good investment choices, and creating a budget for your personal or business expenses. In this week’s episode of Grow Money Business, Grant dives into defined-benefit pension plans. Throughout the episode, we talk about the specifics of a defined-benefit pension plan, how to set one up. different types of tax-advantaged retirement plans, benefits, investment performance, and more.
[03.03] Defined-benefit pension plan – Grant starts off the conversation by explaining exactly what a defined-benefit pension plan is.
[08.53] Creating a defined-benefit plan – Grant dives into the process of creating a defined-benefit pension plan and how it benefits single business owners, LLCs, or S corporations.
[14.05] Investment performance – Grant explains the relationship between the success of a pension plan and investment performance.
[22.32] Pension assets – Grant describes what happens when pension assets become volatile and some best practices for avoiding volatility.
[26.52] CalPERS/ CalSTRS – Grant ties in the California Public Employees’ Retirement System and California State Teachers Retirement System.
[31.14] Defined-contribution plan – Wrapping up the conversation, Grant shares the impacts you can have on your defined-distribution plan if you create a defined-benefit plan.
Defined Benefit Plan –
Personal Defined Benefit Plan –
What Is a Defined-Benefit Plan? Examples and How Payments Work –