Little Known Retirement Plan Seeks to Maximize “Cash Balance”

By Mike Switzer

Published November 8, 2016 at 5:32 AM EST

While 401k plans are still the most prevalent and popular form of employee retirement savings programs, many others still exist and our next guest says that one, in particular, the “cash balance plan” is not well known but could provide the business owner with big tax breaks.

Mike Switzer interviews Roy Janse, a certified financial planner in Greenville, SC.

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Mike Switzer

After almost 20 years, Mike Switzer retired from Wells Fargo Securities in 2001 as Senior Vice President/Investment Officer and Certified Portfolio Manager. In 1999, he and his wife, Maggie, purchased and operated for eight years the Baskin Robbins ice cream store on Forest Drive in Columbia. They grew the store from a bottom-tier operation in the Baskin Robbins franchise system to one in the top 5% nationwide within three years, tripling sales along the way. While operating the ice cream store, Mike and Maggie received patents for a portable ice cream sink and fold-down sneezeguard they invented and in 2002 started Magnolia Carts, an ice cream cart manufacturing company, which they sold in 2013.

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