Evon Mendrin

speaker

181 appearances 1 recordings 1 series first heard Sep 2025 last heard 25 Sep

Evon Mendrin’s voice in public audio — every appearance, attributed to the second.

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The Optometry Money Podcast · Profit Sharing Demystified: How Optometry Practice Owners Can Maximize Their 401(k) with Matt Ruttenberg · 25 Sep 2025 podcast

So we have that 5% minimum contribution gateway rule.

Really important.

We've talked about the different methods.

One final thing I just would kind of want to hear from you is, let's say we have a more mature practice now.

We have very consistent cash flow.

We've gone through the 70,000 already for the profit sharing side in the 401k side.

you know, that owner or a group of owners may be wondering, okay, what's next?

Like, what can we do?

What's next?

Maybe they're preparing for an eventual exit of one of the owners coming up soon.

So maybe there's a particular big tax planning goal coming up.

Tell us about a cash balance plan and how that might fit in with the profit sharing.

Yeah.

Let's not be greedy here.

Come on.

I think one million is good, right?

Yeah.

I mean, that's really cool for, for those established practices that are very mature, consistent cashflow on a, on a regular basis, meaning there aren't any unanticipated shocks to optometry or COVID like events again, probably plan on three years though.

for that cash balance plan to make sure it's running alongside the rules.

But after that, you have the flexibility to pause it or freeze it or to shut it down.

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