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!
As a pharmacy employee, there are a variety of benefits to participating in a 401k. Check out our video (above) for a quick review of some of the benefits.
- Helps you save for retirement
With automatic deductions, you are able to diligently save for your retirement, without even thinking about it.
- Gets you organized
Making sure your 401k is in order help lead you towards organizing the rest of your financial paperwork, such as setting up a will or trust to ensure your children (if they are minors) can be beneficiaries.
- Assists with financial planning
Once you start thinking about retirement, you can also start following a budget to ensure that you will have enough money to live comfortably during your life after pharmacy.
- Tax benefits
By putting money into your 401k, you are reducing your annual taxable income
- Employer matching
Some employers offer to match your contributions (up to a certain percentage) and if you aren't taking advantage of this, you are essentially leaving free money on the table.
The New and Improved 10% Challenge!!!
Waypoint challenge's each and everyone of you to get your savings rate to 10% by the end of 2018. We issue this challenge to you because we know each and everyone of you can do it (even if you don't think you can). If you do not believe us, then take our challenge and email us to set up a time. If we cannot prove that we can get you to 10%, then we will send you a $100 gift card.
For a free 401k situation analysis, contact Tyler at Pharmacy 401k by calling 843-873-4420 or email email@example.com.
For more information on our custom approach and to discover your pharmacy's optimal plan, click here to download our company census tool or contact us by emailing firstname.lastname@example.org or call Tyler Campbell at 843-720-3756.