Just started the job search as I will be a rising senior resident in a well paying specialty. Some potential employers have offered a 401k with profit sharing as well as some other great retirement plan options that I'm looking to take advantage of with a higher salary.
However, one private practice that I'm incredibly interested in is a two physician couple (plus 2 midlevels) who makes very good money. However, on inquiring more about the job specifics further, they said they got rid of their 401k because it was too costly because they had to pay for their employees too. Seems to me that as a two physician couple, the pros would outweigh the cons.
Does it cost that much to setup a 401k plan? How much extra for setting up a profit sharing component? Any recommended sites for information that I could direct them to in order to get it up and running? Any other thoughts?
However, one private practice that I'm incredibly interested in is a two physician couple (plus 2 midlevels) who makes very good money. However, on inquiring more about the job specifics further, they said they got rid of their 401k because it was too costly because they had to pay for their employees too. Seems to me that as a two physician couple, the pros would outweigh the cons.
Does it cost that much to setup a 401k plan? How much extra for setting up a profit sharing component? Any recommended sites for information that I could direct them to in order to get it up and running? Any other thoughts?
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