Most business owners insure the trucks, the buildings, and the cyber risk without blinking. Almost none of them insure the people who make the place run.

Jack Leavy has spent 30 years designing executive benefit plans. The main takeaway: you can promise a key employee real money for staying and skip most of the rules that make 401ks so rigid.

Here’s what you'll learn:

→ How non-qualified plans work and why they sit outside the 401k rules

→ The stay bonus. If they stay five years, they get paid. If they leave, you owe nothing.

→ Why 10 to 15% of someone's pay is the number that changes behavior

→ Deferring income at your highest tax rate and taking it at your lowest

→ The math on losing a key employee: 3 to 4 times their pay if the seat sits empty a year

→ Why your buy-sell agreement is only as good as your last valuation

Chapters

0:00 Intro

1:00 Why a retirement plan can protect a business

5:00 What keeps owners up at night

7:55 The dealership that dropped its match

15:40 The five alarm fire and the $100,000 promise

21:20 Save till it hurts. The ski jacket rule.

28:15 The real cost of losing a key employee

34:35 The fine print. Three risks to know.

39:40 Financing your own exit

45:10 Keep it simple, valuations, and Tommy Boy

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This podcast is sponsored by Michigan Retirement Advisors.

https://miretire.com/

Prefer to listen?

https://pod.link/6812062863