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S02E67 401k Retirement Plan Options with Matt Ruttenberg

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Manage episode 483728511 series 3580706
Content provided by Marilyn Jenkins. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Marilyn Jenkins or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.

Most attorneys view 401k plans simply as employee benefits, but Matt reveals they're powerful financial tools when properly structured. "That's probably about the farthest from the truth that I can explain to someone," he says, comparing the difference between boilerplate retirement plans and customized solutions to the difference between using a legal template versus hiring an attorney.
This conversation goes beyond basics to explore what Matt calls the "retirement plan stack" – an upside-down three-tiered approach that can potentially allow contributions exceeding $300,000 annually. You'll learn about critical deadlines, customization options for eligibility and vesting, and strategies for incentivizing key attorneys with long-term programs that align with your firm's succession planning.
Matt also addresses practical concerns like state mandates (43 states now require or will soon require retirement plans), investment flexibility beyond standard mutual funds, and how to manage liability concerns as a plan sponsor. Whether you're in growth mode and focused on employee retention or looking to maximize personal tax advantages, this episode offers clear guidance on building a retirement strategy that evolves with your practice.
The key takeaway? Start early, ask questions, and recognize that retirement plans offer far more customization than typically presented. Your 401k can be a powerful tool for firm growth, tax management, and wealth creation rather than just another benefit line item.

Reach Matt here:

https://401k.expert/

This episode is sponsored by Wealthy Woman Lawyer®

Wealthy Woman Lawyer® is a law firm growth strategy and business coaching service exclusively for women law firm owners. Ready for a practice that funds your dream lifestyle and gives you time to enjoy it?
Visit https://wealthywomanlawyer.com today.

Join our private community, Law Firm Growth Guild, Your Shortcut to Marketing Mastery and More Clients at
https://checkout.lawmarketingzone.com

Ready to level up your law firm marketing? Book a FREE Discovery Call with Marilyn Here: https://lawmarketingzone.com/bookacall

Leadership In Law Podcast with host, Marilyn Jenkins
Powered by Law Marketing Zone®
https://lawmarketingzone.com
A full-service Digital Marketing Agency helping clients increase Leads, Cases, and Profit by getting their digital marketing right.

Subscribe on your favorite Podcast listening platform!

Like, Share, and Review us!

#leadershipinlawpodcast #leadershipinlaw #lawmarketingzone #marilynjenkins

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Chapters

1. Podcast Introduction & Guest Welcome (00:00:00)

2. Understanding 401k Fundamentals (00:06:37)

3. Building a Customized Retirement Plan (00:13:27)

4. Retirement Plan Deadlines & Implementation (00:19:17)

5. Vesting Schedules & Employee Incentives (00:22:59)

6. Key Takeaways & Contact Information (00:28:25)

73 episodes

Artwork
iconShare
 
Manage episode 483728511 series 3580706
Content provided by Marilyn Jenkins. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Marilyn Jenkins or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.

Most attorneys view 401k plans simply as employee benefits, but Matt reveals they're powerful financial tools when properly structured. "That's probably about the farthest from the truth that I can explain to someone," he says, comparing the difference between boilerplate retirement plans and customized solutions to the difference between using a legal template versus hiring an attorney.
This conversation goes beyond basics to explore what Matt calls the "retirement plan stack" – an upside-down three-tiered approach that can potentially allow contributions exceeding $300,000 annually. You'll learn about critical deadlines, customization options for eligibility and vesting, and strategies for incentivizing key attorneys with long-term programs that align with your firm's succession planning.
Matt also addresses practical concerns like state mandates (43 states now require or will soon require retirement plans), investment flexibility beyond standard mutual funds, and how to manage liability concerns as a plan sponsor. Whether you're in growth mode and focused on employee retention or looking to maximize personal tax advantages, this episode offers clear guidance on building a retirement strategy that evolves with your practice.
The key takeaway? Start early, ask questions, and recognize that retirement plans offer far more customization than typically presented. Your 401k can be a powerful tool for firm growth, tax management, and wealth creation rather than just another benefit line item.

Reach Matt here:

https://401k.expert/

This episode is sponsored by Wealthy Woman Lawyer®

Wealthy Woman Lawyer® is a law firm growth strategy and business coaching service exclusively for women law firm owners. Ready for a practice that funds your dream lifestyle and gives you time to enjoy it?
Visit https://wealthywomanlawyer.com today.

Join our private community, Law Firm Growth Guild, Your Shortcut to Marketing Mastery and More Clients at
https://checkout.lawmarketingzone.com

Ready to level up your law firm marketing? Book a FREE Discovery Call with Marilyn Here: https://lawmarketingzone.com/bookacall

Leadership In Law Podcast with host, Marilyn Jenkins
Powered by Law Marketing Zone®
https://lawmarketingzone.com
A full-service Digital Marketing Agency helping clients increase Leads, Cases, and Profit by getting their digital marketing right.

Subscribe on your favorite Podcast listening platform!

Like, Share, and Review us!

#leadershipinlawpodcast #leadershipinlaw #lawmarketingzone #marilynjenkins

  continue reading

Chapters

1. Podcast Introduction & Guest Welcome (00:00:00)

2. Understanding 401k Fundamentals (00:06:37)

3. Building a Customized Retirement Plan (00:13:27)

4. Retirement Plan Deadlines & Implementation (00:19:17)

5. Vesting Schedules & Employee Incentives (00:22:59)

6. Key Takeaways & Contact Information (00:28:25)

73 episodes

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