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It is becoming more common for us to see retirement plans where the owners are not able to fully fund their portion because it is tremendously expensive because of the employees.  We have a special retirement plan design that may allow you (the owner) to maximize your contributions in a very efficient way for the pharmacy cash flow.  We believe that this is one way you should be rewared for taking the risk of pharmacy ownership.  This site is dedicated helping you create a more efficient benefit for the company and fulfill your responsibilities for being a plan sponsor.

Pharmacy 401k plans are a great way to save money and provide a benefit to your employees. Please visit the website at www.pharmacy401k.com to learn more.  Below is Waypoint's blog dedicated to pharmacy 401k plans and retirement planning for pharmacy owners.

Independent Community Pharmacy Owners: Switching from a SIMPLE IRA to a 401(k) Retirement Plan

Posted by Tyler Campbell on Thu, Aug 11, 2016 @ 10:27 AM


Around this time of year, independent community pharmacy owners and small business owners alike start evaluating their retirement plan.  Wait... What? You don't do this?  Well don't worry, you are not alone.  In fact, you are in the majority.  The first sentence should read, "This is the time of year for business owners to start evaluating their retirement plan."

Working with independent community pharmacy owners, we see one type of retirement plan that is very popular, the SIMPLE IRA.  Its all in the name, simple to start and simple to maintain.  What pharmacy owners have found, however, is that when using a SIMPLE IRA, even when maxing out contributions, saving enough money to reach their retirement goals is not likely.  For that reason, many pharmacy owners have now started looking into moving to a 401(k).

The following is a simplified rundown of what you need to know about switching from a SIMPLE IRA to a 401(k).

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Tags: pharmacy 401k, community pharmacy, pharmacist 401k, community pharmacy retirement program, community pharmacy 401k, pharmacy owner

Community Pharmacy Owners: It's time to get "Round Tuit"

Posted by Tyler Campbell on Thu, Aug 04, 2016 @ 10:18 AM


I have a friend, Roy, who owns a business consulting firm out of South Carolina. He had a very successful career as a CPA, and found his passion in retirement when he began consulting small business owners. Starting with a few clients, it snowballed into a booming business. Now in his early 70’s, many refer to him as Coach Roy. Roy often takes the time to discuss points of business, leadership, networking, and professional development with me. Being an author with the gift of gab, Roy tends to have a knack for turning a phrase. About three years ago, he gave me a coaster like cardboard disk quoting one of his infamous phrases. I keep it on my desk. The words circle the outside of where a drink would sit and state in bold red letters, “Round Tuit”. I must admit, when Roy gave me this, I did not understand what it meant. Was this some sort of business Latin term they did not teach me in college? Was it something from his time in the military, and I should show the utmost respect for it and what it stands for? I politely smiled and thanked him for the gift. Luckily, he began to explain.

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Tags: community pharmacy, pharmacy retirement plan, pharmacist retirement plan

Pharmacy 401k Awareness and the Effects on Community Pharmacy Owners

Posted by Matt Coakley on Thu, Mar 06, 2014 @ 09:38 AM

We just spent the better part of a week in Orlando, Florida discussing ideas to grow community pharmacies in the future.  One of the most important things that we discovered is that pharmacy owners are not completely aware of everything about the pharmacy. This is from their perspective, the perspective of their employees and the perspective of their patients.  We are not going to get into all the details of this but we do want to bring up one place where there is an extreme lack of awareness.

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Tags: pharmacy 401k, community pharmacy, community pharmacy owner

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