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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.

401k Participant Financial Advice

Posted by Tyler Campbell on Thu, Apr 04, 2019 @ 02:02 PM

 Who you choose as your 401k Plan Provider matters.

In a recent study, 64% of workers turn to their 401k plan provider as their first source of 401k financial advice - as well as advice outside of retirement planning. 


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Tags: 401k, financial plan, Blog, 401k planning

Why Profit Sharing Makes Sense

Posted by Tyler Campbell on Wed, Dec 19, 2018 @ 08:30 AM

Profit Sharing. A simple concept, but one that comes with a lot of misconceptions. With this blog, we are hoping to clear some of them up for you. 

In theory, profit sharing is a no brainer. By allowing employees to reap the benefits of the success of the company, you will see happier, more interested, more loyal, and more motivated employees. Additionally, in the US, tax breaks have helped support profit sharing and share ownership. Whether you are considering stock options, direct cash and bonus options, or deferred compensation, there are many things to consider - as each provides its own advantages. 

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Tags: employee benefits planning, 401k, profit-sharing, Blog

Small Business Retirement Plans

Posted by Tyler Campbell on Tue, Nov 20, 2018 @ 09:00 AM

Back in September, we briefly reviewed some differences in various 401k and IRA plans, and have since been asked to provide some more information on each of the plans. Below is a combined review of the SEP-IRA, Individual 401k, and SIMPLE IRA.  We will review pros and cons, as well as key points of differentiation between each of the plans. 

As a reminder, 401k and IRA plans are subject to numerous and complex rules, regulations and tax qualification requirements. Be sure to consult with a qualified professional before making ANY decisions or changes to your 401k or IRA.

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Tags: 401k, savings, Best Plan For You, 401k options, Blog, 401k planning

The importance of developing your will

Posted by Tyler Campbell on Tue, Oct 23, 2018 @ 08:46 AM

Everyone should have a will…PERIOD.

Without it, all of your hard work could end up exactly where you don’t want it. Not only will it ensure that your belongings stay with family (or not, depending on your relationship), but it makes the process smoother and less likely to cause strife.

Look at Aretha Franklin. After her passing it was discovered that she had no will and her $80 Million estate is now tangled in a legal mess. While the law in Michigan states that her estate be evenly divided among her 4 adult sons, it is likely that her assets will be contested. 

The same thing happened with Prince and his estimated $150 Million estate. It’s been two years and his estate is still being contested, as heirs have come forth to insist upon ownership of his estate – including his 5 half siblings, one of whom hasn’t seen him in over 15 years. Prince also left behind thousands of hours of unpublished music, and both the rights and releasability of those tracks have been up for raucous debate in the absence of a will’s clear directive.

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Tags: pharmacist contingency plan, preparedness, Blog, develop a will, legacy planning

Knowing the ins-and-outs of your 401k

Posted by Tyler Campbell on Tue, Sep 18, 2018 @ 09:10 AM

Attention pharmacy owners! Do you know the details of your 401k? Are you 100% positive that the plan you are offering is the best one for you and your employees? Or, are you simply going with one that was cheap and easy to set up?

If you don't know the basic ins-and-outs of your 401k it could be costing you BIG. In this blog, we are going to be reviewing basic concepts of common 401k plans and providing you with important things to keep in mind when reviewing your 401k plan options. 

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Tags: 401k, savings, Best Plan For You, 401k options, Blog, 401k planning

Benefits of a 401k

Posted by Tyler Campbell on Wed, Aug 22, 2018 @ 09:25 AM


If you are the pharmacy owner, there are a multitude of benefits for implementing a 401k for your team.

  • 401k plans help attract and retain valuable employees
    Recent studies have shown that the younger generation prefers certain benefits, such as a 401k, over a salary increase. 
  • Your contributions are tax deductible
  • Different plan options are available (click here to see if you have the best plan for you)
  • Tax credits and other incentives may reduce starting costs

Additionally, we would like to address some misconceptions, for those employers who do not offer a 401k.

First and foremost, setting up a 401k for your employees is a pretty painless process. We will help you pick the plan that is best for you and your team, and will take care of all of the legwork. We will also help you to organize and manage the plan year to year, so you don't have to worry about finding the time. Lastly, the cost to set up and offer a 401k to your employees is less than you may think. There are plans available, specifically for small businesses, and we can show you a cost comparison to help you pick the right plan for you.

We also offer you and your team a variety of other services:
- Financial planning assistance for you AND your employees enrolled in the 401k
- One-on-one advice with one of our 401k advisors
- A better, overall, customer experience
- Advice on ways to help you enjoy independence, inside, outside, and after your life in the pharmacy
- New and unique ways to help attract, retain, and reward valuable employees
- And more!

Click here to visit Pharmacy 401k  for more great information.

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Tags: 401k, savings, Best Plan For You, Video, Blog, 401k planning, financial security

Follow your 401k!

Posted by Tyler Campbell on Thu, Jun 21, 2018 @ 04:08 PM

According to a recent study, the average person changes their job 10-15 times during his/her career, many of them spending 5 years or fewer at most of them. Are you one of the many?

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Tags: retirement plans, 401k, savings, 401k planning

Securing Your Retirement

Posted by Tyler Campbell on Fri, May 25, 2018 @ 02:07 PM

With all of the recent changes in DIR fees, we have been talking with our clients a lot about uncertainty and the "unknowns" that always seem to creep up when you least expect them. More specifically, how these unknowns can affect the value of their pharmacy in the future, and how they can be prepared for such changes.

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Tags: employee benefits planning, 401k, savings, will you make it calculator

Will You Make It? Calculator

Posted by Tyler Campbell on Wed, Mar 21, 2018 @ 12:05 PM

One of the things we always talk about is how the ONLY thing we can control in the market is how long we spend in it.

If you are one of the people who started saving for retirement when you were 16, congratulations, you will probably be just fine. For the rest of us, we tend to put our eggs in too few of baskets. For example, if you are depending on the sale of your pharmacy to fund your retirement, you may want to consider some alternative options.

Below is a video about our Will You Make It Calculator Tool (downloadable for free below) for you to use to determine if, by selling your pharmacy, you will have enough to live the life you want after pharmacy.

Click below to watch our video!

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Tags: 401k, savings, will you make it calculator

The dangers of using your 401k to pay off debt

Posted by Tyler Campbell on Fri, Jan 19, 2018 @ 11:22 AM

This month, we are talking with a lot of people about working towards being debt free. While it is important to focus on getting out of debt so you can use that money for better things (such as adding to your 401k...wink wink), there are folks who are using their 401k to pay off that debt. If you are considering using your 401k to pay off debt, be sure to check out this video on the dangers of doing so.

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Tags: 401k, debt reduction, saving money

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