Cottonwood Strategic Planning

Depending solely on your employer for retirement benefits like pensions and 401(k)s is a thing of the past. Take your retirement into your own hands, backed by local experts with decades of experience in building retirement plans designed to create the future you dream of. 

When it comes to retirement, it’s always better to start sooner rather than later. Still, even if you’ve put off thinking about it for some time, it’s never too late to start. There are a wealth of options available to you to help ensure that your Golden Years will be truly golden, and we are here to help you choose and manage the solutions that are right for you. 

Proper asset management is critical to building a stable financial future for you and your family, but it can be overwhelming at times. Whether you need help adjusting or reassessing your investments, Benefit and Financial Strategies is here to help families in Cottonwood, AZ, and beyond. Our experienced professionals equip you with the resources you need to make smart decisions designed to help you build wealth and put your mind at ease. Our focus is on establishing a relationship based on trust. We work diligently to research and find the most suitable options for your needs. From keeping a close eye on your investments to tax-mitigating efforts, when you work with the local team at Benefit and Financial Strategies in Cottonwood, AZ, you’ll always know we have your back.

So much more than a “nice-to-have”, health insurance truly is a must-have. With the rising cost of healthcare, it’s critical to safeguard the health of yourself and your family and to mitigate the negative impacts of costly medical emergencies. 

Fortunately, there are many options available to you whether you are self-employed, an employer, or an employee, and it’s our mission to match you with the perfect plan for your circumstances. 

When you work with Benefit and Financial Strategies for your insurance needs in the Cottonwood, AZ area, you know you’re working with a local team that has your best interests at heart.

Providing comprehensive group health benefits for your employees, including group vision insurance, is a smart way to protect your business and your employees’ well-being at the same time. Top performers and candidates are likely to field offers from multiple employers. Businesses offering health, retirement, and other benefits can attract top talent and retain them once they’re on board.

The financial professionals at Benefit & Financial Strategies can help employers purchase and manage additional group health benefits for employees, such as dental insurance. Employers in Cottonwood, Arizona, and across the US aren’t required to provide group dental insurance to their employees. However, in competitive job markets like the one we’re experiencing now, companies that offer group benefits, including dental coverage, are often better able to attract and retain highly-sought workers.

Finding the best group health insurance benefits for your employees without breaking the bank is no small task. At BFS, we help Cottonwood, AZ business owners evaluate, select, and purchase group medical insurance that protects their employees' well-being. We also identify tax credits and other offsets that reduce employer's financial burden and protect their bottom line.

The financial professionals at BFS understand the needs of Cottonwood, Arizona’s business owners, and can help you evaluate and select life insurance coverage that suits the needs of your employees and your business. Life insurance is not only a crucial element of your employee’s financial planning, but it can also help your business recover should a key employee pass away.

When an off-the-job injury or illness prevents an employee from working, disability income insurance provides payments equal to a portion of their lost income until they return. Employers in Cottonwood, AZ, may offer disability income insurance as a voluntary, employee-paid benefit or employer-funded benefit. The financial professionals at BFS can help you explore available disability benefit plans and identify tax savings and other offsets if you choose to fund the benefit on behalf of your employees.

Cottonwood, AZ, employers have many options when it comes to helping their employees save for retirement. Business profit-sharing arrangements allow employers to split a portion of company profits among employees eligible for the plan, while pension plans are employer-funded retirement savings for a business’ vested employees. In addition, clients of BFS small business retirement plan services may offer 401(k) and 403(b) retirement plans to their employees. We offer implementation and administration support for these popular retirement plans, which combine tax-deferred employee contributions with employer-matched funds.

SIMPLE (Savings Incentive Match Plan for Employees) IRA plans provide Cottonwood, AZ employers a straightforward and inexpensive retirement benefit. Under a SIMPLE plan, employers can make non-elective contributions of 2% of an employee’s salary or matching contributions up to 3% of an employee’s salary. Employees can contribute up to $13,500 ($16,500 for workers over 50) in 2021. Unlike SIMPLE IRA plans, SEP (Simplified Employee Pension) IRA plans are funded 100% by employers. In addition, SEP plans have higher annual contribution limits than SIMPLE plans and low administration costs, making them a popular retirement vehicle for small business owners and the self-employed.

Cottonwood, AZ, businesses can implement buy-sell agreements to protect against financial loss after the death or disability of a business owner or employee. The most common types of arrangements are cross-purchase agreements and stock purchase agreements. Depending on the type of agreement in place, after a qualifying event, other employees may have the option to buy the newly available ownership shares (cross-purchase), or the company’s key employees may agree to purchase the shares (stock purchase agreement).

Defined benefit plans are more commonly referred to as pension plans and provide employees with a specific payment amount in retirement, which may be paid as a lump sum or in monthly payments, depending on the plan’s rules.

Cash balance plans are a defined benefit plan that allows Cottonwood, AZ employers to credit a designated account for eligible employees with a percentage of their annual compensation. Depending upon the plan’s provisions, employees may receive this benefit as a lump sum or monthly annuity upon retirement.

Deferred compensation plans are often offered to executives or as a supplemental option in addition to 401(k) or other retirement plans. Under a deferred compensation plan, an employee defers accepting a portion of their salary until a specified date in the future. During the deferral period, the individual’s tax liability is reduced. 

If you own a business, succession planning is essential to secure your company’s future. In the event of a tragedy or upon your retirement, a thoughtfully developed and implemented succession plan can ensure you retain the assets you need to retire and provide for your family while successfully transferring the company's ownership.

Benefit & Financial Services can help employers in Cottonwood, Arizona, navigate the highly-regulated landscape of executive benefits. Our financial professionals design executive compensation and benefits packages that ensure compliance with the US Department of Labor regulations that govern qualified and non-qualified executive benefits.