The Optometry Money Podcast

Questions? Thoughts? Send a Text to The Optometry Money Podcast! We'll answer your question on the show. What retirement plan options are available just for independent contractor optometrists?  Evon dives into the retirement plan opportunities just for 1099 optometrists and those with side businesses. He talks about how optometrists can benefit from: Taxable investment accounts Traditional an...

Questions? Thoughts? Send a Text to The Optometry Money Podcast! We'll answer your question on the show. In honor of the 4th of July holiday and the Declaration of Independence, this episode is a rewind of a popular 2022 episode on financial independence. How do you track progress toward financial independence? How do you know if you're on track, or how much you'll need to make work...

Questions? Thoughts? Send a Text to The Optometry Money Podcast! We'll answer your question on the show. How do you maximize the retirement plans in your optometry practice?  Profit and cash flow are growing, your taxable income is growing. How do you put potentially $100,000 or more into your retirement accounts? Matt Ruttenberg of Life, Inc. Retirement Services joins Evon once again for Part...

Questions? Thoughts? Send a Text to The Optometry Money Podcast! We'll answer your question on the show. What's the right retirement plan for your private optometry practice?  Matt Ruttenberg of Life, Inc. Retirement Services joins Evon to talk all about choosing the right retirement plan for your practice. They dive into: IRA-based retirement plans, like SEP IRA and SIMPLE IRA plans Safe...

Questions? Thoughts? Send a Text to The Optometry Money Podcast! We'll answer your question on the show. It's official! Federal student loan payments are finally going to start again! Evon dives into the latest news optometrists need to know for federal student loans: Payments and interest are set to start this fall Updates on loan cancellation and the new income-driven repayment plan Act...

Questions? Thoughts? Send a Text to The Optometry Money Podcast! We'll answer your question on the show. Should optometrists invest in international stocks? Or only in the United States? In this episode, Evon dives into research around why optometrists should invest in stocks globally, and not just limit their investing to the US. He summarizes four pieces of research about the diversification...

Questions? Thoughts? Send a Text to The Optometry Money Podcast! We'll answer your question on the show. How do you know how much of your investments should be in stocks and real estate vs. bonds? What's the right mix for you, and when should it change? This episode provides an optometrist's guide to selecting the right mix for your investments. Evon dives into: Different types of fi...

Questions? Thoughts? Send a Text to The Optometry Money Podcast! We'll answer your question on the show. This episode replays Evon's 2022 guest appearance on the Try Not To Blink Podcast, hosted by Dr. James Deom and Dr. Roya Habibi. They dive into Evon's background, why he chose to serve optometrists, student loan planning decisions, preparing for practice ownership and cold-start o...

Questions? Thoughts? Send a Text to The Optometry Money Podcast! We'll answer your question on the show. In the first episode of an investing-focused series, Evon dives into how stocks, bonds, Real Estate Investment Trusts (REITS), mutual funds, and ETFs work. At the end, he talks about the risk and return relationship between the different investments, and the role that stocks and bonds play...

Questions? Thoughts? Send a Text to The Optometry Money Podcast! We'll answer your question on the show. Where should you save your hard earned dollars? Which accounts should you use? In what order? In this episode, Evon provides a framework for optometrists on where to invest your dollars first and which investment accounts to go to next. He gives an order of operations for saving and investi...

Questions? Thoughts? Send a Text to The Optometry Money Podcast! We'll answer your question on the show. This episode replays Evon's recent guest appearance on The Power Hour Optometry Podcast, hosted by Dr. Bethany Fishbein. Evon and Bethany dive into the importance of employee financial wellness is for the productivity of your staff, different benefit features in your optometry practice...

Questions? Thoughts? Send a Text to The Optometry Money Podcast! We'll answer your question on the show. April is National Financial Literacy Month! In honor of that, Evon dives into some foundational topics around how to manage and prioritize your cash flow. He talks about four foundational financial questions you should ask yourself about financial health: Are you taking the right amount of...

Questions? Thoughts? Send a Text to The Optometry Money Podcast! We'll answer your question on the show. Dr. Kara Ramsey-Foster, OD joins the podcast to talk about her journey freeing her optometry practice from managed vision care plans through a direct care business model. In a bit of a case study, Dr. Foster talks about what led her to transition her practice entirely away from vision plans...

Questions? Thoughts? Send a Text to The Optometry Money Podcast! We'll answer your question on the show. In today's episode, Evon provides an optometrist's guide to estimated tax payments. If you're a practice owner or independent contractor OD, quarterly estimated tax payments are likely a part of your life. He dives into what quarterly estimated tax payments are, who needs to...

Questions? Thoughts? Send a Text to The Optometry Money Podcast! We'll answer your question on the show. Dr. Brianna Rhue joins Evon on the podcast to talk about how to create a more patient-centric contact lens sales process in your optometry practice. They dive into reasons patients walk with prescriptions, how to remove frictions throughout the patient experience, and how to use technology...

Questions? Thoughts? Send a Text to The Optometry Money Podcast! We'll answer your question on the show. Evon revisits an important tax planning topic for optometry practice owners and independent contractors - the Qualified Business Income Deduction! He dives into what the deduction is, how it's calculated, its limitations and phase outs, how it works differently in different business ty...

Questions? Thoughts? Send a Text to The Optometry Money Podcast! We'll answer your question on the show. Erich Mattei of Akrinos rejoins the podcast to talk all about performing due diligence when purchasing an optometry practice. He dives into financial, legal, and operational due diligence you need to perform during the process. Ultimately, is this the appropriate practice for you, and can i...

Questions? Thoughts? Send a Text to The Optometry Money Podcast! We'll answer your question on the show. How do the different business entities work? How are they taxed? How are they different? In this episode, Evon provides a basic guide to the differences between: Sole Proprietorships Partnerships  Limited Liability Companies (LLCs) S-Corporations Corporations If you own an optometry practic...

Questions? Thoughts? Send a Text to The Optometry Money Podcast! We'll answer your question on the show. How do you calculate return on investment for the investments you make in your optometry practice? Amanda Collaso, owner of Bookkeeping for Optometry, joined Evon to talk all about calculating the return on different investments in your practice. They dive into equipment purchases, adding s...

Questions? Thoughts? Send a Text to The Optometry Money Podcast! We'll answer your question on the show. How do income taxes work? How do tax rates work? How are your taxes calculated? As tax filing deadlines approach, Evon dives into a basic guide for optometrists to how US federal income taxes work. He dives into how marginal tax rates work, how taxes are calculated, withholdings and estimat...

Questions? Thoughts? Send a Text to The Optometry Money Podcast! We'll answer your question on the show. How should you market your optometry practice? Justin Knott, CEO of Intrepy Healthcare Marketing, joins Evon to talk about marketing your practice. They dive into what you should include in your marketing efforts, how to get the most out of your website, social media and paid ads, and so mu...

Questions? Thoughts? Send a Text to The Optometry Money Podcast! We'll answer your question on the show. What is the 4% safe withdrawal rule? It's often talked about and cited in social media posts, blogs, and books. But where does it come from? What do you do with it? When is it useful and when is it not useful? Evon talks about the research behind the 4% sustainable withdrawal amount, i...

Questions? Thoughts? Send a Text to The Optometry Money Podcast! We'll answer your question on the show. Evon provides an optometrist's guide to financial advisors. He dives into five questions that you need to ask financial advisors when looking to hire. It's often hard to know which financial professional does what and how they're all different. Hopefully, this guide helps you...

Questions? Thoughts? Send a Text to The Optometry Money Podcast! We'll answer your question on the show. Bethany Fishbein, CEO of the Power Practice, joins Evon to talk about her observations on what the most profitable mode of practice is for private practice optometry. Hint: It may not be what you expect! We also dive into the importance of knowing your chair cost, tracking the data in the p...

Questions? Thoughts? Send a Text to The Optometry Money Podcast! We'll answer your question on the show. Dr. Aaron Neufeld joins Evon to talk about launching a specialty lens practice in addition to - and separate from - his primary optometry practice.  Dr. Neufeld is the owner of Los Altos Optometric Group, co-founder of the ODs on Finance Facebook group, and recently launched The Contact Len...