Retirement
Dentists: Now’s the Time to Upgrade Your Retirement Plan for 2025
At DrillDown Solution, we specialize in helping dentists and dental practice owners build smarter tax strategies through customized retirement plans. If you’re still using a 5305-SEP IRA or haven’t yet set up a 401(k) or Cash Balance Plan, the window to make a strategic move for 2025 is closing fast. Whether you’re a solo dentist…
Read MoreCase Study — 401K Plan Strategy
Recently I had a new client with a profitable business come to us who had been using a 401k plan for years in addition to making annual profit-sharing contributions for owners and employees. In a recent year, the total company contribution was $51,000. Of that amount, $31,000 goes to the owner. We proposed adding a…
Read MoreThe Backdoor Roth IRA Strategy
Saving for retirement is an essential part of any financial plan—but for high-income earners, accessing the benefits of a Roth IRA can be frustrating due to IRS income limits. Fortunately, there’s a legal workaround known as the Backdoor Roth IRA strategy. This approach allows individuals who earn too much to contribute directly to a Roth…
Read MoreCalculating How Much To Save For Retirement – The Profit First Method
When it comes to securing your financial future, few things are as critical as planning for retirement. As a business owner or high-net-worth individual, you’ve worked hard to build your wealth, and now it’s time to ensure a smooth and successful retirement. But the big question remains: Do you know how much to save for…
Read MorePreparing For Retirement: Essential Tips for Dentists
Introduction As a dental practice owner, you’ve worked hard to build a successful, thriving business. That’s why it’s important to take care of your financial health, especially when it comes to preparing for retirement. In this blog post, we’ll provide essential tips and strategies to help you achieve a financially abundant retirement. We’ll explore saving…
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