How Defined Benefit Plans Could Help Business Owners Slash Taxes and Catch Up on Retirement (Ep. 61)

Are you a business owner with high income—but even higher tax bills? Are you feeling behind on retirement savings?

In this episode of Maximizing Outcomes®, Jim McGovern welcomes back Tom Wyatt to unpack one of the most overlooked yet powerful tools for high-income business owners: Defined Benefit Pension Plans.

You’ll learn:

Tom shares real-world examples—including one client who’s pension contribution allowed for a $288,000 deduction in a single year while keeping 87% of it for himself.

Whether you’re a solo entrepreneur or run a business with employees, this episode will help you rethink how to retire smarter and lower your tax bill in the process.

Related Episode:

Episode 28: Retirement Planning Essentials

Episode 29: Retaining Key Employees with Non-Qualified Retirement Plans

📩 Have questions? Reach out to Jim at [email protected] or visit mcgovernwealth.com

🎧 Don’t forget to subscribe and share this episode with other business owners who want to Maximize Outcomes® in their life.

Please note individual situations will vary, individual results will be unique and determined on their own merits. 7938432.1