When Bob Bove was 46, he and his wife had saved only $50,000, As a successful sales manager, retirement savings just hadn't been on his mind.
Then Bove launched a second career as a financial planner and did so well that in 2008, he was able to open a defined-benefit plan. Now 55, he has $70 million in assets under management, and he is stashing more than $65,000 into his pension each year. "I'm playing catch up," he says. "Most successful financial advisors could probably afford a pension plan, and it's a wonderful tax-savings tool."
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