Non-Qualified Deferred Compensation Plans Explained: Tax Advantages & Risks for Executives

Are you an executive at a major company with deferred compensation on your benefits sheet? In this comprehensive guide, I explain how non-qualified deferred compensation plans work and how to avoid costly mistakes that could derail your retirement. Learn: 1:00 What deferred compensation is and its tax advantages 3:08 How to structure payouts for maximum tax efficiency 5:25 How to potentially save $33,000+ in taxes on a $50,000 bonus 8:12 Why you should max out 401(k)s, HSAs, and backdoor Roth IRAs first 11:27 The "20% rule" to protect your retirement savings 12:36 Common mistakes executives make with deferred comp I'm Bjorn Amundson, financial advisor with Quarry Hill Advisors, helping executives make smarter decisions with their compensation packages. Need personalized guidance? Check out our website where you can schedule an introductory strategy session: quarryhilladvisors.com Don't forget to like, subscribe, and hit the notification bell for more financial education videos! #DeferredCompensation #ExecutiveCompensation #TaxPlanning #FinancialPlanning #RetirementPlanning #WealthManagement #CorporateExecutives #taxstrategy