[7/29/26] The Fight Way GUEST Speaker: Wealth Beyond the Business​​​​​​​

Deep Dive

Certified Financial Planner Alan Dawkins joined the call as a guest speaker to discuss strategies for contractors to build real retirement wealth beyond total reliance on selling their business. He outlined various business retirement account options—such as SEP IRAs, Simple IRAs, and Solo 401(k)s—and highlighted tax-efficient corporate structures like S-Corp elections to reduce self-employment taxes. Dawkins also emphasized essential protection measures including disability insurance, key man coverage, buy-sell agreements, and fundamental estate planning documents like wills, powers of attorney, and trusts. The session concluded with an open Q&A addressing specific member questions regarding term versus permanent life insurance, S-Corp election timing, and balancing pre-tax versus Roth retirement contributions.

• • Alan Dawkins detailed why contractors should diversify retirement savings rather than relying strictly on an eventual business sale.

  • He reviewed popular employer retirement options, including Simple IRAs, SEP IRAs, and Solo 401(k) plans.

  • Transitioning to an S-Corp election around $80,000–$100,000 in net income can significantly lower self-employment tax burdens.

  • Key man insurance and funded buy-sell agreements are vital to protect a business if an owner or essential employee passes away.

  • Dawkins advised acquiring convertible term life insurance to lock in health ratings for future permanent policy conversions.

  • Attendees were offered free access to software for drafting core estate documents like wills, trusts, and powers of attorney.

  • The group discussed balancing pre-tax and Roth retirement contributions to effectively manage personal tax brackets over time.