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

  • 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…

  • Practice Management
How a Limiting Mindset Can Cost Practice Owners More Than They Realize with Dr. Steve Vargo

In this episode I sit down with Dr. Steve Vargo to unpack a mindset that many practice owners quietly wrestle…

  • Practice Management
Independence vs Isolation in Private Practice with John Marvin

In this episode I sit down with John Marvin to explore a challenging but important idea for private practice owners:…

  • Practice Management
The Blueprint for Growing a Multi-Million-Dollar Optometry Practice with Dr. Kurt Steele

Most optometrists think growth comes from better marketing or more patients—but the real advantage often starts somewhere much less obvious:…

Sponsoring a health insurance plan in your practice may not be as expensive as you think

Health insurance is one of the most confusing and frustrating decisions practice owners face. In this episode I sit down…

  • Financial Planning
Tax Strategies to Embrace and Avoid & A Case Study on Where to Look for Errors on Your Tax Return: My Guest Appearance on Eye Own A Business Podcast

Many optometrists are either leaving money on the table with their tax strategy—or unknowingly pushing the boundaries of tax law.…