Episode #98

20/20 Money Episode # 98 – Implementing a SoloK as an Optometrist?

September 21, 2020

The Solo 401(k) is a viable option for independently contracted, 1099 compensated optometrists. It has many of the same benefits and options that a “normal” 401(k) has but without many of the testing and compliance requirements. However, they are not without their own limitations. In this episode, I share what optometrists need to know about when and whether a Solo/Individual 401(k) is a viable retirement planning vehicle to consider. For more information, visit the IRS.gov Solo 401k website.

As a reminder, you can get all the information discussed in today’s conversation or check out any number of additional free resources like our eBooks and on-demand webinars by visiting our website at integratedpwm.com and clicking on the Learning Center. You can also visit this page to set up a 20-30min Triage conversation to learn a little bit more about how we help ODs around the country reduce their tax bill, manage cash flow, and make proactive money decisions.

Episode Transcript

Enjoy our content? Subscribe for regular updates!

Related Podcasts

  • Financial Planning
Are you building wealth…or just feeding the machine?? A conversation with Nathan Hayes on investing capital in your practice

What if one of the biggest financial mistakes practice owners make is confusing “spending money in the practice” with actually…

  • Practice Management
Making These Merchandising Mistakes is Costing You Tens of Thousands of Dollars: An Optical Conversation with Kayla Ashlee

Most optometric practice owners have no idea how much money they’re quietly losing in their optical simply because of merchandising,…

Practice financing decoded: what owners need to know now about how banks think about deals

Thinking about buying or expanding a practice, but nervous about debt, banks, or making an expensive mistake? In today’s episode,…

  • Practice Management
How great practice owners build teams that stay and perform

What if the biggest threat to your practice isn’t reimbursement, competition, or overhead—but the way you hire, lead, and retain…

  • Practice Management
Don’t make these financial and business mistakes! (the talk I give at every optometry school’s private practice club)

The financial decisions you make early in your career can shape the next several decades—and most people don’t realize it…

  • Practice Management
Using EOS to Create Clarity and Traction in Your Practice with Tom Restivo

Ever wonder if, when, or how to build stronger operations within your practice? In this episode, I sit down with…