Aug 24, 2020
Utilizing a retirement plan like a 401(k) profit sharing plan is a great tool to help optometrists save money for retirement. It’s also a way for them to reduce taxes in higher earning years and deferring that tax liability until future years.
While most optometrists may be familiar with Traditional 401k and profit sharing plans, a little known planning tool that exists is the ability to make after-tax contributions to a 401k plan. This strategy is often referred to as the “mega back-door Roth” strategy.
In this episode, we talk about the history, details, benefits,
and strategies an optometrist can consider when utilizing their
401k for after-tax retirement plan contributions.
As a reminder, you can get all the information discussed in today’s
conversation by visiting our website at www.integratedpwm.com and
clicking on the Learning Center. While there, you can also set up a
20-30min Discovery 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 or check out any
number of additional free resources like our eBooks and on-demand
webinars.
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