The 401(k) rules have changed. Has your retirement plan?
20/20 MONEY: The Business of Optometry
Release Date: 08/24/2026
When success quietly creates too much risk
20/20 MONEY: The Business of Optometry
You may feel diversified while quietly becoming more dependent on the exact same sources of wealth. In this episode of 20/20 Money: The Business of Optometry, I explore concentration risk from two angles that practice owners often don’t connect: what’s happening inside an investment portfolio and what’s happening on their personal balance sheet as their practice becomes more valuable. We start with the S&P 500. Because the index is market-cap weighted, the companies that perform best naturally become larger portions of the index. Today, . That doesn’t make the S&P 500 a bad...
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Does your optometry practice even need a front desk anymore?
20/20 MONEY: The Business of Optometry
What if one of the most familiar parts of your optometry practice is also one of the things most overdue for a rethink? This week’s episode of 20/20 Money: The Business of Optometry is a little different. After a few updates on what’s ahead for the podcast—including upcoming guests, a potential optometry-owner ski meetup at Copper Mountain before IDOC Connection 2027, and an opening in the OD Masterminds Founders Club—I’m sharing an episode from another project that some listeners may not yet have discovered: The Optometry Success Podcast. The Optometry Success Podcast...
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The 401(k) rules have changed. Has your retirement plan?
20/20 MONEY: The Business of Optometry
If your practice has been using the same retirement plan for years simply because “it works,” you may be leaving valuable planning opportunities on the table. On this episode of 20/20 Money: The Business of Optometry, I’m joined by Jared Porter, co-founder of 401GO, for a practical conversation about how much the qualified retirement plan landscape has changed—and why optometric practice owners should periodically reevaluate whether their current plan still fits their business. We discuss why SIMPLE IRAs may no longer be as “simple” or advantageous as many owners assume, how...
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Why your optometry marketing isn't working with Jeremy Bono from IDOC Marketing
20/20 MONEY: The Business of Optometry
Your next patient may already be looking for an optometrist—and choosing someone else before you ever know they existed. On this episode of 20/20 Money: The Business of Optometry, I’m joined by Jeremy Bono, Director of Optometry Marketing Services at IDOC, for a wide-ranging conversation about what effective marketing actually looks like inside an optometry practice. We start with a bigger question: does the public really understand what an optometrist does—and, more importantly, why they should regularly see one? From there, Jeremy and I explore why simply saying that you provide...
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Is optometry too focused on specialty services? A discussion with Dr. Kyle Klute
20/20 MONEY: The Business of Optometry
What if the pressure to add specialty services is distracting you from the value already sitting inside your practice? In this episode of 20/20 Money: The Business of Optometry, Adam is joined by Dr. Kyle Klute for a thought-provoking conversation about specialization, comprehensive eye care, and the growing pressure practice owners may feel to purchase new technology or build a niche service line. Kyle explains why labeling dry eye, myopia management, glaucoma, and other areas as “specialties” can unintentionally allow optometrists to treat them as optional. Instead, he argues that ODs...
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How successful practice owners actually become wealthy
20/20 MONEY: The Business of Optometry
A profitable practice can create tremendous cash flow—but it does not automatically create personal wealth. In this episode of 20/20 Money: The Business of Optometry, Adam bridges the gap between running a successful optometry practice and using that success to build lasting financial independence. Drawing on nearly 20 years of working with business owners, he explains why practice size, income, and personal net worth are related—but far less correlated than many owners assume. Adam shares several patterns consistently demonstrated by financially independent practice owners,...
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Understanding and setting pricing in your practice that are fair and profitable with Dr. Chris Wolfe, OD (Rewind)
20/20 MONEY: The Business of Optometry
Welcome to this REWIND episode of 20/20 Money! My guest on today’s show is Dr. Chris Wolfe, OD. Chris joins me on the show to share in a conversation about how ODs can think about pricing the different services provided in the practice and how to frame that conversation with your patients, how ODs can think about researching their pricing on medical procedures, how to think about scheduling in your practice to be as efficient with OD hours as possible, 4 questions to consider asking every pt as it relates to dry eye, the 5 steps needed to introduce change in your practice, and how practice...
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What every seller needs to know before selling their practice
20/20 MONEY: The Business of Optometry
A practice sale that should have been the easiest transition imaginable ended before negotiations even began—and the lessons could save you from making the same costly mistake. In this episode, I shares the story of an anonymized internal succession plan that unraveled despite all the ingredients for success: a trusted associate, established patient relationships, and a seller committed to staying through the transition. So what went wrong? Using this real-world case study, I'll share the psychology of selling a practice, why valuations are opinions—not verdicts—and how...
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Your Practice Doesn’t Need More of Your Time — It Needs Better Use of It with Nathan Hayes
20/20 MONEY: The Business of Optometry
What if the next level of your practice requires less time in the lane — not more? In this episode of 20/20 Money: The Business of Optometry, I’m joined again by Nathan Hayes for a wide-ranging conversation about how practice owners should think more intentionally about their most limited resource: time. We pick up where our last conversation left off and explore what it really means to work on the business, not just in it. Nathan and I discuss why growth is not always linear, why some seasons of ownership are meant for building while others are meant for harvesting, and how owners...
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A simple introduction to AI for optometry practice owners: a practical conversation with Dr. Mick Kling
20/20 MONEY: The Business of Optometry
AI can feel overwhelming, overhyped, and impossible to keep up with — especially when every conversation seems to swing between “this changes everything” and “this is all just noise.” In this episode of 20/20 Money, I’m joined once again by Dr. Mick Kling for a practical conversation about where AI is actually useful for practice owners right now — without the doom-and-gloom, hype, or technical jargon. Mick shares how he’s been thoughtfully experimenting with AI inside his own workflows to improve efficiency, analyze practice financials, model business decisions, and...
info_outlineIf your practice has been using the same retirement plan for years simply because “it works,” you may be leaving valuable planning opportunities on the table.
On this episode of 20/20 Money: The Business of Optometry, I’m joined by Jared Porter, co-founder of 401GO, for a practical conversation about how much the qualified retirement plan landscape has changed—and why optometric practice owners should periodically reevaluate whether their current plan still fits their business.
We discuss why SIMPLE IRAs may no longer be as “simple” or advantageous as many owners assume, how technology has reduced much of the administrative burden historically associated with 401(k) plans, and why payroll integration should be one of the most important considerations when evaluating a provider.
We also unpack some of the planning opportunities created by recent retirement-plan legislation, including startup and auto-enrollment tax credits, increased contribution opportunities, plan-design flexibility, and the ability to use profit-sharing contributions as part of a broader tax and cash-flow strategy.
Jared and I also dig into an increasingly popular strategy: the mega backdoor Roth.
While it can be valuable in the right circumstances, we explain why after-tax contributions aren’t automatically available—or advantageous—for every practice owner and how required nondiscrimination testing can quickly change the math.
This episode isn’t about convincing every practice owner that they need a 401(k). It’s about understanding the options available today so you can make an educated and informed decision about whether your current retirement plan is still the right tool for your practice, your employees, and your own financial independence.
Some of the topics we cover include:
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Why SIMPLE IRAs can become limiting as a practice grows
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How modern 401(k)s differ from the plans many owners remember from years ago
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Payroll integration and what “360-degree integration” actually means
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Auto-enrollment requirements and recent retirement-plan legislation
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Tax credits that may offset the cost of establishing and operating a plan
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Matching versus safe-harbor non-elective contributions
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Using profit sharing as part of a practice owner’s tax strategy
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Why plan design should begin with the end in mind
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Roth 401(k)s, after-tax contributions, and the mega backdoor Roth
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The testing requirements that can derail an after-tax contribution strategy
NBS (Next Best Step): Pull out the details of your current retirement plan and ask your advisor to evaluate it based on today’s rules—not the assumptions that were true when the plan was originally established. Specifically, review your contribution limits, employer contribution structure, payroll integration, investment flexibility, administrative costs, available tax credits, and whether profit sharing could improve your overall tax and retirement strategy.
Have a podcast-related question? Contact our team here!
Resources:
Link: 5 reasons why I hate the SIMPLE IRA
Download the Practice Owner's Financial Toolkit
20/20 Money Ultimate Financial Success Masterclass
Check out Adam's book: How to Buy an Optometry Practice
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