Here are the six common mistakes:
1. Using an insurance or brokerage-based plan.
2. Not using a customized plan with an independent third-party administrator and fiduciary investment adviser.
3. Not funding a pretax-retirement plan early and aggressively.
4. Not considering a defined benefit plan if you are older than 45 and in independent practice.
5. Using a SEP IRA instead of a 401K if you have employees.
6. Converting to Roth IRAs or funding a Roth 401K during your high income years.
More articles on practice management:
Getting the best out of your employees: 7 tips
9 practice changes physicians have made in the last 3 years
What additional benefits do medical residents receive? 8 statistics
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.
