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BUSINESS

concept is scalable, which means we could get similar results with Avid Wealth Partners is a marketing name for Eric Ilmari Kala in

multiple owners and a larger staff. Large doctor groups have begun their capacity as a representative of Northwestern Mutual and is

to use cash balance plans more often. They are being used for both not a legal business name. Northwestern Mutual is the marketing

the tax deduction and as a tool to help attract and retain high end name for The Northwestern Mutual Life Insurance Company, Mil-

talent. These groups often have 10 doctors or more and we can usu- waukee, WI (NM) (life and disability insurance, annuities and life

ally get very good results which potentially include large tax savings. insurance with long-term care benefits) and its subsidiaries. Eric Il-

The cash balance plan is not a solution in all instances but when you mari Kala is a Representative of Northwestern Mutual Wealth Man-

are looking for larger deductible contributions than you are able to get agement Company (NMWMC) Milwaukee, WI (fiduciary and

just in your 401(k) plan the cash balance plan may well be worth look- fee-based financial planning services), a subsidiary of NM and a

ing into. The leveraged tax savings that a cash balance plan can offer federal savings bank.

may be a good answer to your tax and retirement questions. Certified Financial Planner Board of Standards Inc. owns the cer-

2017 MAXIMUM CONTRIBUTION LIMIT tification marks CFP®, CERTIFIED FINANCIAL
PLANNER™ CFP® (with plaque design) and

401(k) with Tax Savings CFP® (with flame design) in the U.S., which it
(39.6% Tax awards to individuals who successfully complete
Age 401(k) Only Profit Cash Total CFP Board's initial and ongoing certification re-
60-65 Balance Bracket) quirements.
Sharing
$125,136
$24,000 $60,000 $256,000 $316,000

55-59 $24,000 $60,000 $206,000 $266,000 $105,336

20-54 $24,000 $60,000 $157,000 $217,000 $85,932 Eric Kala is a San Antonio based advisor that works ex-

45-49 $18,000 $54,000 $120,000 $174,000 $68,904 tensively with physicians and business owners on their financial
40-44 $18,000 $54,000 $92,000 $146,000 $57,816 wellness and their specific needs around protecting and growing
35-39 $18,000 $54,000 $70,000 $124,000 $49,104 their assets.

visit us at www.bcms.org 33