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Generally, defined benefit plans are most suitable for clients who are age 45+ and who expect to have enough self-employment or small business income to contribute to a defined benefit plan for at least 3-5 years.
Questions to Uncover Side Income
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Do you have income from work that is outside your regular job, such as:
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Consulting
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Serving as an independent corporate director
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Patents
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Book Royalties
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Giving speeches
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Questions for Spousal Income
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Does your spouse work?
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What kind of work does he/she do?
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Does he/she get a W-2 for income tax purposes or do you file a separate tax schedule for his/her business income?
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