{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"Rewind: 5 Reasons Why I Don\u2019t Like SIMPLE IRAs for Optometry Practice Owners","description":"Welcome to a Rewind episode of 20\/20 Money! It\u2019s September, which means that it\u2019s the time of year when practice owners should be reviewing their current retirement plan and determining if it\u2019s the same type of plan that they want to have serving their practice into the next year. This was a popular episode around this time last year, so I\u2019m bringing it back for another listen. Choosing a retirement plan for your optometry practice is an important decision and it\u2019s one of those processes that can often be put on the back burner by ODs. It\u2019s common for us to see mature practices still utilizing a SIMPLE IRA in their practice and, when asked why they still use a SIMPLE IRA, a common answer we hear is \u201cBecause it\u2019s much cheaper than a 401(k).\u201d This is also advice that we see being shared in online communities as well. In today\u2019s conversation, I want to share with you five reasons why the SIMPLE IRA is not the long-term retirement plan solution for your practice, backed up with specific examples and case study illustrations and projections. As a reminder, you can get all the information discussed in today\u2019s conversation by visiting our website at&amp;nbsp;integratedpwm.com&amp;nbsp;and clicking on the Learning Center. While there, be sure to subscribe to our newsletter and you can also&amp;nbsp;set up a 20-30min Triage conversation&amp;nbsp;to learn a little bit more about how we help ODs around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions or check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars.  Follow us on Instagram:&amp;nbsp;https:\/\/www.instagram.com\/2020moneypod\/&amp;nbsp; \u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014 Please rate and subscribe to 20\/20 Money on these platforms  Apple Podcasts  Spotify Google Podcasts Stitcher&amp;nbsp;  \u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014 For past episodes of 20\/20 Money with full companion show notes, please check out our&amp;nbsp;episode archive here! ","author_name":"20\/20 MONEY: The Business of Optometry","author_url":"https:\/\/www.integratedpwm.com\/","html":"<iframe title=\"Libsyn Player\" style=\"border: none\" src=\"\/\/html5-player.libsyn.com\/embed\/episode\/id\/20524826\/height\/90\/theme\/custom\/thumbnail\/yes\/direction\/forward\/render-playlist\/no\/custom-color\/88AA3C\/\" height=\"90\" width=\"600\" scrolling=\"no\"  allowfullscreen webkitallowfullscreen mozallowfullscreen oallowfullscreen msallowfullscreen><\/iframe>","thumbnail_url":"https:\/\/assets.libsyn.com\/secure\/content\/111577628"}