Should I Use a Non-Qualified Plan?

Jill on Money with Jill Schlesinger

Audacy

Self-improvement, Business, Investing, Education

4.6 • 1.8K Ratings

🗓️ 14 December 2020

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Sometimes employers will offer what's called a non-qualified deferred compensation retirement plan, whether or not it makes sense to use it depends on a few factors. Have a money question? Email me here. Please leave us a rating or review in Apple Podcasts. "Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com. To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	Welcome to the Jill on Money Podcast. It is Monday, December 14th, the middle of the month.
0:10.8	Time is short if you're trying to get your online orders in to get all of your holiday
0:15.2	present sent but that's not something you need to concern yourself with right now right now
0:21.6	what we're doing is trying to take care of your financial questions.
0:26.7	So if you are thinking about what should I do before the end of the year.
0:30.8	I want to think about that because I heard your
0:32.9	great interview with Michael Goodman over the weekend Jill. Or if you're thinking
0:36.8	about how do I start 2021 off on the right foot? All you need to do is send us an
0:42.2	email.
0:42.8	Ask Jill at Jill on money.com.
0:45.6	Ask Jill at Jill on money.
0:48.4	Don't forget to tell us if you want to come on the air with us
0:52.4	because we really would love to hear your
0:54.1	voices. Mark has arranged a whole system to get this done and today we are so
0:59.8	lucky we are joined by Patrick from Michigan.
1:04.0	Patrick, welcome to the program.
1:06.0	What can we do for you?
1:08.0	Thanks, Jill.
1:09.0	So, 2020 is the first year that I have been moved into a category at work where instead of a
1:16.4	traditional 401k I'm in our non-qualified plan.
1:20.8	So based on level of compensation and all of that, I guess there's a test they run, you know, everybody through at the end of the year for IRS rules.
1:31.0	And I'm in a position now where I'm able to contribute greater than the
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Audacy, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Audacy and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.