High-income earners may have access to strategies involving Cash Balance Plans, Defined Benefit Plans, profit sharing plans, charitable planning, Roth conversion strategies, advanced life insurance, and estate planning. The appropriate combination depends on income, business structure, age, existing retirement assets, tax exposure, and long-term objectives.

A Cash Balance Plan is a type of qualified Defined Benefit Plan that may allow eligible business owners and highly compensated professionals to make substantially larger tax-deductible retirement plan contributions than a 401(k) alone. Contribution levels depend on factors such as age, compensation, plan design, employee demographics, and actuarial calculations.

Advanced planning is generally most relevant for individuals and business owners with substantial taxable income, consistent cash flow, significant retirement or investment assets, or complex estate and legacy objectives. Roney Insurance Solutions typically works with clients earning $500,000 or more annually or with a net worth of $5 million or more.

Life insurance can play several roles in advanced planning, including estate liquidity, wealth transfer, business planning, long-term care benefits, and supplemental tax-advantaged retirement income. The design, funding, costs, policy performance, and tax treatment should be evaluated carefully based on the client's circumstances.

Premium financed life insurance is a strategy in which qualified clients use third-party financing to help fund premiums for a life insurance policy. It is generally designed for high-net-worth clients who want to preserve liquidity, but it involves interest costs, collateral requirements, lending risk, and policy-performance risk and requires ongoing review.

No. Roney Insurance Solutions works collaboratively with your existing CPA, attorney, financial advisor, actuary, plan administrator, and other professionals as appropriate. Our role is to help identify, design, and coordinate insurance and planning strategies with your broader advisory team.

Roney Insurance Solutions is based in Pasadena, California, and works with clients and professional advisors in California and other states, subject to applicable licensing and product availability.

The process begins with a strategy consultation to understand your income, business structure, existing retirement plans, insurance, estate objectives, and current planning concerns. From there, we can identify areas that may warrant further analysis and determine which professionals should be involved.