20/20 MONEY

Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Jennifer Stewart, founder of the private practice Look New Canaan and OD Perspectives.

In this episode, we talk about two major themes that she’s observed over the years as she has consulted with both friends and colleagues. Whether it be an OD launching a cold start or trying to make decisions inside of an established practice, there are two reoccurring themes that she’s observed ODs doing that is causing them to make mistakes with some unfortunate financial and quality-of-life implications.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. Lastly, if you’re interested in learning more about the 20/20 Money Membership, a platform that we created to help ODs become “brilliant at the financial basics,” please check out the link in the show notes of this episode to learn more.

And with that introduction, I hope you enjoy my conversation with Dr. Jennifer Stewart.

Resources:

20/20 Money Membership Information

Episode on Accountability Partners

The Hedgehog Concept

Extreme Ownership

Who Not How

The Impact Filter™

Welcome to this episode of 20/20 Money! My guest on today’s show is Daniel Palmer, founder of Morether Creative, a Fractional CMO for optometrists nationwide.

In this conversation, we talk through and explain the Story Brand process and the SB7 framework. We talk about the common marketing mistakes that biz owners (not just ODs) make when it comes to marketing their brand, how to think of the SB7 framework through the patient experience, and some of the Next Best Steps that ODs can take based on our conversation. Daniel also shares a really impactful framework called the one-line story brand and how ODs can use this simple, 3-part framework to explain each part of the patient’s journey through the practice which ultimately demonstrates the value of the practice to the patient.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. Lastly, if you’re interested in learning more about the 20/20 Money Membership, a platform that we created to help ODs become “brilliant at the financial basics,” please check out the link in the show notes of this episode to learn more.

And with that introduction, I hope you enjoy my conversation with Daniel Palmer.

Resources:

20/20 Money Membership Information

My StoryBrand

Building a Story Brand (book)

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Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Bethany Fishbein, OD, Consultant & Executive Coach with Leaders of Vision. Bethany and I talk about a topic that an OD might not think about directly correlating to the financials of a practice: leadership skills. However, I believe that we quickly illustrate in our conversation how the things that negatively impact a practice’s profitability—staff turnover, patients not returning, and an overworked/overwhelmed owner just to name a few—are usually the symptoms of an underlying “disease:” an owner that has neglected to focus on improving their leadership skills and emotional intelligence. Throughout this conversation, Bethany shares practical ways for owners to take action and, at the end, shares a very easy Next Best Step that an owner/leader can take to make progress.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. Lastly, if you’re interested in learning more about the 20/20 Money Membership, a platform that we created to help ODs become “brilliant at the financial basics,” please check out the link in the show notes of this episode to learn more.

And with that introduction, I hope you enjoy my conversation with Dr. Bethany Fishbein, OD.

Resources:

20/20 Money Membership Information

https://www.leadersofvision.com/leadershipEQ  

Parenting with Love and Logic Podcast

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Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Michael Neal, OD. Michael joins me back on the show to discuss bonus structures that work for non-producing members of your team, and how they can be put together in a way that is advantageous to both the team member and the overall growth of the practice.  

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Dr. Michael Neal, OD.  

Resources:

20/20 Money Community Information

Flights And Insights: https://www.youtube.com/watch?v=CHEtC0iyNMg

How utilizing a streamlined hiring service can help save time and money by ensuring the right people are on the bus with Dr. Mike Neal, OD

How a hyper-effective, right-fit team can increase your profitability: a follow up convo with Dr. Mike Neal, OD

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In this episode, we break down why the Federal Reserve decided to cut interest rates by 0.5% (50 basis points) and what it signals about the economy. More importantly, we dive into actionable steps that optometry practice owners can take to benefit from these lower rates while preparing for potential economic shifts.  

Resources:

20/20 Money Community Information CS Eye Optometric Billing Consultants

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Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Kurt Steele, OD. Kurt joins me back on the show to talk in further detail how he and his partners have structured their compensation structure in a way that works for everyone in the practice while also ensuring that there is parity in comp based on the amount of revenue that each of them collect for the work they do clinically in the practice. He shares the details and formula he uses and we run a couple of hypothetical examples to show how the numbers work out for each partner. He also shares how he uses operational margins as an incentive bonus structure for his non-OD staff and which line items of the P/L are used to determine whether they’ve accomplished their margin goals and when those bonuses are paid out.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Kurt Steele, OD.

Resources:

20/20 Money Community Information

https://www.legitvisionpllc.com/ 

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Welcome to this episode of 20/20 Money! My guest on today’s show is Nathan Hayes from Books & Benchmarks. Nathan joins me back on the show to talk all things business financials and how owners should be thinking about actual profit in a business—and where to look in your business financials to learn how much money the practice has actually provided to you on the personal side. Nathan & I have a great back-and-forth discussion, trading stories and experiences we’ve both had in our respective roles advising practice owners—and how that information can help you as a practice owner feel clearer and confident about the financial health and performance of your business. I also wrote a complementary article for Review of Optometric Business, which is linked here in the show notes, that can help practice owners focus on the right financial metrics in their practice.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. Lastly, if you’re interested in learning more about the 20/20 Money Membership, a platform that we created to help ODs become “brilliant at the financial basics,” please check out the link in the show notes of this episode to learn more.

And with that introduction, I hope you enjoy my conversation with Nathan Hayes.

Resources:

20/20 Money Membership Information

Review of Optometric Business – 3 Metrics that Reveal the True Financial Health of Your Practice

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Welcome to this episode of 20/20 Money! My guest on today’s show is Chris Tuff. Chris is the author of the book The Millennial Whisperer and in this conversation we talk about all things related to leading a team. As one might expect, a lot of the conversation that we had is applicable to leading all team members—not just Millennials. We talk about the importance of understanding your employees’ purpose and what they want out of their career…not just their purpose in your organization. Chris shares a simple way to build better connections with your team and the impact that has on your organization. Overall this was a very enjoyable conversation, highlighting the responsibility that we as leaders have to the team we employ, while also sharing practical solutions to implement these concepts.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. Lastly, if you’re interested in learning more about the 20/20 Money Membership, a platform that we created to help ODs become “brilliant at the financial basics,” please check out the link in the show notes of this episode to learn more.

And with that introduction, I hope you enjoy my conversation with Chris Tuff.

Resources:

20/20 Money Membership Information

Culture Index

Save Your Asks by Chris Tuff

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Welcome to this episode of 20/20 Money! My guest on today’s show is David Mason, Ph.D. David joins me on the show to talk about a seemingly abstract but important distinction that you should consider when thinking about your team: do you have satisfied team members or engaged team members? Our conversation spills over into multiple different topics, ranging from the importance of acknowledging impact in your practice, the three levels of an engaged employee, and tools that you can use to better understand the level of engagement your team has in your practice. As business owners, we know how important our team is to our success and the success of our business, but I feel that it can become an “oh, by the way” part of business ownership…when it should be something that you’re thinking about daily. David does a good job illustrating ways in which we can better manage the systems in our business so we can lead the people we employ.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. Lastly, if you’re interested in learning more about the 20/20 Money Membership, a platform that we created to help ODs become “brilliant at the financial basics,” please check out the link in the show notes of this episode to learn more.

And with that introduction, I hope you enjoy my conversation with Dr. David Mason.

Resources:

20/20 Money Membership Information

David Mason Speaking

Gallup’s Q12 Survey

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Welcome to this episode of 20/20 Money! My guest on today’s show is Dennis Moseley Williams. Dennis joins me to revisit the importance of the customer experience on the success of your practice. He shares the five phases of the patient experience and how to think differently about the way you engage your patients in your practice. I really love having these conversations because of how important the patient experience is to the financial success of a practice. When we talk with our clients or other OD owners around the country and ask them what they feel makes their practice successful, the patient experience is near or at the top of all reasons, yet it can be harder for some than others to understand what that means and how they can think differently about the patient experience.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you and use promo code FOUNDER to lock in a lifetime membership discount by September 30th.

And with that introduction, I hope you enjoy my conversation with Dennis Moseley Williams.

Resources:

20/20 Money Community Information

Sivers Email

Link to Jen Stewart's IDOC conversation

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Today's episode is a bit special because I'm FINALLY able to announce that the 20/20 Money Membership is live! The beginning of the show is a walk-through of the membership, the offering, who it's for, and why I created it.   One IMPORTANT item that I didn't share in the episode: join the Membership by September 30th using promo code FOUNDER and get $200 off the annual membership (use FOUNDERMONTHLY if you're opting for the monthly subscription to get a $20/mo discount)! As a founding member, you'll

Resources:

https://www.2020membership.com/

https://www.2020membership.com/practice-buy-in-spreadsheet

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Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Justin Kwon, OD. Justin joins me on the show to talk all things myopia control. Justin’s passion for this topic is very evident and I found our conversation very informative. While there’s the obvious clinical angle that is a deeper and separate discussion than what we had here on the show, Justin does a great job illustrating the mutual benefits that exploring the implementation of myopia control in a practice can have on both the patients that you serve as well as the business that you own.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. Lastly, if you’re interested in learning more about the 20/20 Money Membership, a platform that we created to help ODs become “brilliant at the financial basics,” please check out the link in the show notes of this episode to learn more.

And with that introduction, I hope you enjoy my conversation with Dr. Justin Kwon, OD.

Resources:

20/20 Money Membership Information

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Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Chris Lopez.

Chris joined me back on the show to talk about all things related to the associate OD/owner OD relationships. As the career consultant at ODs on Finance, Chris has a unique perspective and gives us insight on the conversations he has been having with both associate ODs and owners looking to hire associates. We touch on the importance of communication in any relationship, managing and setting expectations from both parties around the compensation structure, what ODs surprisingly value the most in their job, and some good questions that associate ODs can think of asking a practice owner during the interview process.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. Lastly, if you’re interested in learning more about the 20/20 Money Membership, a platform that we created to help ODs become “brilliant at the financial basics,” please check out the link in the show notes of this episode to learn more.

And with that introduction, I hope you enjoy my conversation with Dr. Chris Lopez.

Resources:

20/20 Money Membership Information

Chris Lopez 1st Interview on 20/20 Money

Simon Sinek on Millennials in the Workplace

Brene Brown TED Talk

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Welcome to this episode of 20/20 Money! My guest on today’s show is Pete Kehoe, OD.  Pete joins me back on the show to discuss all the hard lessons he and his team have recently learned while they navigated their practice being shut down due to a massive ice storm that destroyed a large portion of the building's roof.  Pete shares more about the headaches endured when he learned his practice wasn't adequately insured due to a clerical error, how he kept his team afloat during their time closed, and the importance of transparent communication with him team throughout the entire process.  

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Pete Kehoe. OD.

Resources:

20/20 Money Community Information

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Welcome to this episode of 20/20 Money! My guest on today’s show is John Marvin President of Texas State Optical. As one of the country’s oldest optometry business models, TSO has seen many different headwinds and tailwinds that have impacted optometry. As President of TSO over the past 20 years, John has seen TSO grow into one of the top 10 retail optical organizations in the country, doing over $110 million in annual sales across nearly 100 locations. Our conversation is wide reaching, including the pivots that TSO has made in the wake of the pandemic and influx of private equity funds into the profession, how the unique value proposition of TSO has evolved over the years (and why pratices, regardless of brand affiliation or business model, need to continue to focus their energy and efforts on the patient), the talent shortage that their doctors have been experiencing and why it’s been happening, and a variety of other topics.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with John Marvin.  

Resources:

20/20 Money Community Information

Texas State Optical

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Welcome to this episode of 20/20 Money! My guest on today’s show is Tim Merrigan with Acquios Advisors. In the 16 years or so that I’ve been an advisor, I’ve noticed that there’s something “motivating” about turning 50: people start thinking about their lives differently and thus they start re-evaluating the way they’ve been investing and spending not only their money, but also their time. Tim joins me on the show to dialogue about some of the common questions, concerns, and opportunities that we see from each of our respective points-of-view when ODs put a half-century worth of candles on their birthday cake (and yes I did use that specific framing of a half-century to emphasize the point that we’re not getting any younger but yet we’ll keep getting what we’ve been getting if we keep doing what we’ve been doing. You’re welcome). :)

One other note about the goal setting study that I reference towards the end of the episode: turns out, based on a bit of research post-recording, that neither study actually happened despite it being recited in the annals of consulting, personal productivity, and business management content over the years. Despite this debunking, I think we can all agree that setting and writing down goals is much more beneficial and gives us a much better chance of succeeding than wishing things to happen. There’s a link to an article I found in the show notes that expands on this in greater detail.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Tim Merrigan.

Resources:

20/20 Money Community Information

Article on the Harvard (or Yale?) goal-setting study (that I guess doesn’t actually exist?)

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Welcome to this episode of 20/20 Money! My guest on today’s show is Mike Jorgenson with Carr Healthcare Realty. Mike joins me back on the show to give us an update on what he and his team around the country are seeing in the commercial real estate market. We also dive into some of the considerations, mistakes, and blind spots that both buyers and sellers find themselves in when selling a practice and the role that the real estate plays in the transaction.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Mike Jorgenson

Resources:

Making the right decisions and avoiding mistakes with commercial real estate with Mike Jorgenson of Carr Healthcare Realty

20/20 Money Community Information

To learn more about The OD Mastermind Program, please email Podcast@integratedpwm.com 

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Welcome to this episode of 20/20 Money! My guest on today’s show is Eugene Shatsman, Managing Partner of National Strategic Group and new host of The Power Hour Podcast.

In this wide-reaching marketing conversation, Eugene shares a variety of “low hanging marketing fruit” mistakes and misconceptions that practice owners nationwide have about how marketing should be leveraged in their practice. We talk about a variety of topics, ranging from the importance of being able to measure your marketing spend, why it’s not “if” but “how many” new patients you are likely losing by not having an online scheduler on your website, the different ways in which marketing should be viewed for a growing vs established practice, and many other conversations. Admittedly, doing episodes like this almost feel like a disservice because there are so many different tangents that we could go down, but despite the wide ranging conversation I believe you’ll still come away with a handful of action items that, as I mention in the beginning of the episode, you can immediately communicate to your strategic partners to help you improve or implement.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Eugene Shatsman.

Resources:

Eugene Shatsmans Studio

20/20 Money Community Information

To learn more about The OD Mastermind Program, please email Podcast@integratedpwm.com 

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For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!

Welcome to this episode of 20/20 Money! My guest on today’s show is Amber Morgan, CPA with Mohr CPAs. In the wake of tax season, Amber and I run through some of the easy and conspicuous action items that you can take proactively over the year that not only will have a positive impact on your overall tax planning, but also make for a happy and productive CPA-client advisor relationship.

One additional PSA that Amber thought of post-recording as it pertains to extensions: filing an extension is not a bad thing. You’d rather file an extension and make sure that your CPA is working on your taxes with a fresh set of eyes (and morale) rather than stressing and hurrying to get your return filed at 11pm on April 14th. Nothing bad happens when you file an extension (as long as you’ve paid the amount owed, as Amber explains in further detail in the episode). But mistakes can happen if a return is rushed out the door if for no other reason than to get it filed prior to April 15th. If you do file an extension, just don’t sit on it until the fall when you’re right back up against the actual deadline.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Amber Morgan.

Resources:

20/20 Money Community Information

To learn more about The OD Mastermind Program, please email Podcast@integratedpwm.com 

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Welcome to this episode of 20/20 Money! My guest on today’s show is Amanda Bennett. Amanda joins me on the show to talk about a topic that we’ve discussed directly and indirectly on this show—human capital. Specifically, Amanda talks about a gap that she saw in the hiring process over the years and how she developed a platform to help automate part of the hiring process. We start out talking about how her journey and role in the practice has evolved over the years and why she felt compelled to create a solution for a problem that she found to be persistent not only in the practice she managed but in other practices she would interact with a well. We talk about how important it is to have alignment of expectations with potential candidates, the responsibility that practice owners have to share as much of the right information as possible as early on in the hiring process to ensure that both parties are not wasting time, and the benefits she’s seen from systematizing the process in their practice.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Amanda Bennett.

Resources:

20/20 Money Community Information

EyeHR

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Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Ryan Gustus, OD. Ryan joins me on the show live from Vision Expo East to discuss something that is very timely given the recording location: how practice owners can think about the implementation of various pieces of equipment in your practice to ensure that it's done with intention and leads to profitability. As an example, Ryan shares the personal experience and process that he went through when he and his partner made the decision to implement an IPL in their multi-location practice to treat dry eye for their patients. Ryan also shares a unique way in which he actually had patients partially pre-pay for their upcoming treatment, even before he purchased the equipment, as a way to validate their commitment to the treatment, thus giving him the confidence to know that it was the right decision for their practice. As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you! And with that introduction, I hope you enjoy my conversation with Dr. Ryan Gustus.

Resources:

20/20 Money Community Information

To learn more about The OD Mastermind Program, please email Podcast@integratedpwm.com 

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Apple Podcasts

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For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

Resources:

20/20 Money Community Information

To learn more about The OD Mastermind Program, please email Podcast@integratedpwm.com 

The Ultimate Practice Owner’s Financial Planning Toolkit

A pay structure that works for optometry partnerships with Kurt Steele, OD

Reconciling a successful succession plan with a growing practice with Dr. Kurt Steele, OD

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Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Adam Ramsey, OD.

Adam joins me back on the show to continue the conversation that we teased at the end of our first conversation which was how Adam evaluated the decision to go out of network with a variety of VCPs that he was taking in his practice. He shares how he came to the realization that he needed to do it, how he evaluated the different 3rd party payors to determine which ones to punt and which ones to keep, how he benchmarked success in the process, what it meant to his practice’s profitability, and the importance of being intentional and purposeful in practice ownership and what that’s meant to him and his business. He also talks about a passionate topic that he shared in a LinkedIn post. You can tell Adam’s extremely passionate about the profession of optometry and wants to see private practices succeed and for ODs to become more knowledgeable about the business of optometry and I was happy to provide the platform for him to share his lessons and journey.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Dr. Adam Ramsey, OD.

Resources:

20/20 Money Community Information

Adam’s LinkedIn post

Fear Setting Exercise: 

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Welcome to this episode of 20/20 Money! My guest on today’s show is Nathan Hayes with IDOC.

Nathan joins me back on the show and we put a quantitative spin on our conversation today. We talk all things benchmarks and margins in an optometry practice. We discuss how to use benchmarks to make smart practice decisions and ways in which benchmarks can actually give you a false sense of anxiety and stress in your practice. We explain (defend?) why it’s better to focus on increasing your revenues in your practice than focusing on shaving small percents off of a limited number of expenses in your practice. We also spend time defining and talking through optometric net in a practice, why it’s important, and how to use that number to better inform you about the efficiency of the OD time in your practice.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the the 20/20 Money Membership, please check out the link in the show notes to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Nathan Hayes.

Resources:

IDOC Books & Benchmarks Link

20/20 Money Community Information

Interview with Dr. John Ormando

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In the spirit of managing information overload, I wanted to take a week to pause on new information and rather share a process or organizing and prioritizing your thoughts, goals, and actions that can often stem from listening to shows like 20/20 Money and the consumption of other content.

Resources:

20/20 Money Community Information

reMarkable 2 Tablet 

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Welcome to this episode of 20/20 Money! My guests on today’s show are Dr. Todd Cohan and Sadie Blair.

Todd & Sadie join me on the show today to talk about the successful dynamic that exists between both of them as owner and practice operations manager. Todd shares how impactful it’s been to have a great team member and integrator like Sadie in the practice and how that has allowed the practice to continue to grow. They share how they’ll both process all of the ideas, strategies, and concepts that they (and their team) will have learned at IDOC Connection and how they decide which ones they’ll implement and how they manage timelines. Sadie shares how she successfully transitioned from a larger corporate-structured practice into Todd’s smaller, private practice and how she earned the buy-in from the team that Todd already had in place. I enjoyed recording this conversation because it shows the different vantage points from owner and operations manager—and why open lines of communication on all fronts is so important for practice success.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with

Resources:

20/20 Money Community Information

All in by Mike Michalowicz

6 Types of Working Genius

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Welcome to this episode of 20/20 Money! My guest on today’s show is Bethany Fishbein, OD.

Bethany joins me on the show live from Vision Expo East to talk about one of the most important relationships in an optometric practice: the relationship between the practice manager and the owner/OD. In this conversation, she talks about the evolution of the managerial role in the practice as the practice matures and grows, the characteristics of a valuable practice manager, the mistakes that both she and others have made when filling the practice manager role in the office, and the importance of the practice owner's vision for how they want the practice to function. She also shares how to think about creating a job description (and why you should use a templated job description as a starting point for creating your customized version) and how you can use an honest conversation with your practice manager to align expectations in your office...ultimately using that conversation as the launch point for future performance and goal reviews. 

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Dr. Bethany Fishbein, OD.

Resources:

20/20 Money Community Information

www.leadersofvision.com

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Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Jennifer Stewart, OD.

Jen joins me on the show today to talk through her journey launching her tepid start practice, Look New Canaan. I’ve had Jen on the show multiple times in the past, and this was admittedly one of my more enjoyable conversations with a podcast guest. Maybe it’s because it was live, or maybe it’s because Jen’s passion for this profession is so, well…passionate. But we hit on so many amazing and pointed topics that I would challenge any listener to NOT find at least one actionable or impactful idea, strategy, or concept. We talk about the interesting dichotomy that exists between the risk that’s needed to start a business from scratch and the generally conservative nature of ODs—and how she’s been able to so successfully reconcile those two opposed forces.

And just one additional point to clarify that I don’t think we made explicitly clear later in the conversation: Jen does see medical patients, it's just cash pay. She doesn’t take medical insurance…but she does see patients for medical reasons on a cash pay basis. People will think that "she doesn't do medical" because she doesn't do medical insurance...she does medical, it's just cash pay.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with

Resources:

20/20 Money Community Information

Jeremy Ciano interviews

Kyle & Chris 20/20 Money Takeover

Three River Optical

IDOC

Derek Sivers CD Baby Story

Look New Canaan

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Welcome to this episode of 20/20 Money! My guest on today’s show is Kayla Ashlee from Spexy.

Kayla joins me live on location at IDOC Connection 2024 to talk all things optical. Optical is admittedly an area of practice management that has always been intriguing because of the retail component—I feel like there are a lot of “retail 101” lessons that we can take from how other retailers manage their business. While practice owners may not have the multi-million dollar IT and inventory management systems that large, big-box retailers have, Kayla illustrate why it doesn’t take an incredible amount of time, energy, or expertise to significantly improve the way you run your optical, and thus the profitability of your practice. We talk about best practices for frame reordering and the common mistakes and missteps she sees opticals making, whether it’s beneficial to be “an inch wide and a mile deep or a mile wide and an inch deep” with regards to frame lines and designs, a case study on how one optical was able to increase their sunglasses sales, and how to think about showcasing different brands to increase sales of a particular line.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership in January of 2024, please check out the link in the Resources to learn more about what we have in store for you! In next week’s episode, I’ll have more information on some upcoming webinars that you can attend which will give you a sneak peak into the membership and details about joining the first cohort!

And with that introduction, I hope you enjoy my conversation with

Resources:

https://learn.bespexy.com/courses/frameturnintro 

20/20 Money Community Information

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Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Adam Ramsey, OD, representing VA Healthcare. In this episode, we talk about the role that a virtual medical assistant can play in your practice’s patient flow and how to think about the changes that you’d have to make in your practice for this to be a viable option. Adam provides a list of responsibilities that they’re doing in his practice and how he thinks through capacity for this person while ultimately striving to deliver the best experience for his patients.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership in January of 2024, please check out the link in the Resources to learn more about what we have in store for you! In next week’s episode, I’ll have more information on some upcoming webinars that you can attend which will give you a sneak peak into the membership and details about joining the first cohort!

And with that introduction, I hope you enjoy my conversation with Dr. Adam Ramsey.

Resources:

20/20 Money Community Information

Weave

https://socialitevision.com/

www.hellorache.com

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Welcome to this episode of 20/20 Money! My guest on today’s show is Nathan Hayes from IDOC.

Nathan joins me back on the show to discuss and dialogue about the two basic ways practice owners can think about the way in which they hire associates for their practice: easing into it by bringing them into the practice gradually or proactively planning ahead by stockpiling cash in the practice and thus then “making the leap” by hiring an associate full-time—and then intentionally stewarding the practice to success by ensuring profitability in as timely manner as practicable for the practice.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Nathan Hayes.  

Resources:

20/20 Money Community Information

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Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Kurt Steele, OD. Kurt joins me back on the show to talk in further detail how he and his partners have structured their compensation structure in a way that works for everyone in the practice while also ensuring that there is parity in comp based on the amount of revenue that each of them collect for the work they do clinically in the practice. He shares the details and formula he uses and we run a couple of hypothetical examples to show how the numbers work out for each partner. He also shares how he uses operational margins as an incentive bonus structure for his non-OD staff and which line items of the P/L are used to determine whether they’ve accomplished their margin goals and when those bonuses are paid out.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with

Resources:

20/20 Money Community Information

https://www.legitvisionpllc.com/ 

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Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Mike Neal, OD. Mike is the founder of a number of different businesses, include a primary care practice in PA called Lakeside Vision and Build My Team, an effective outsourced hiring system for eyecare that does not use resumes. Mike joins me back on the show to provide additional context and clarity around the numbers that he shared on the first episode, proving/dispelling the naysayers out there about the margins of his practice. This episode admittedly went long, but I really believe it's packed with a lot of great insight for practice owners. We talk about the process he used to successfully add an associate in the practice and what that’s meant to the profitability, how he embraces training for success, and leadership qualities that have proven to be successful when empowering his team to effectively run the practice and own each of their respective responsibilities to drive profitability in the practice. We talk about how he’s been able to protect his margins so well year-over-year. We wrap up the conversation with the time-tested (albeit probably frustrating) reoccurring theme that successful practices and their owners take that contribute to their success.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership in January of 2024, please check out the link in the Resources to learn more about what we have in store for you! In next week’s episode, I’ll have more information on some upcoming webinars that you can attend which will give you a sneak peak into the membership and details about joining the first cohort!

And with that introduction, I hope you enjoy my conversation with Dr. Mike Neal, OD.

Resources:

20/20 Money Community Information

Link to first convo with Mike https://www.slybroadcast.com/ 

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Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Kurt Steele, OD. Kurt is one of the owners of Precision Eyecare, a member of the Vision Source Network, in Newport, TN and also the founder of Legit Vision, a consulting firm to help ODs unlock the potential in their practice. Kurt joins me on the show today to talk through the unique and successful way that he has married the growth of his practice into the succession planning considerations that he wanted to have in place to ensure continuity of the practice to the next generation of ODs. We talk through a hypothetical example that illustrates the timeline and buy-in options along with a number of different details around the structure of his deals and why it’s been so successful for him and his partners.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership in January of 2024, please check out the link in the Resources to learn more about what we have in store for you! In next week’s episode, I’ll have more information on some upcoming webinars that you can attend which will give you a sneak peak into the membership and details about joining the first cohort!

And with that introduction, I hope you enjoy my conversation with Dr. Kurt Steele, OD.

Resources:

20/20 Money Community Information https://www.legitvisionpllc.com/ 

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Welcome to this episode of 20/20 Money! My guest on today’s show is Charlie Steingas, founder and chief actuary at Cash Balance Actuaries, a firm that specializes in the design, implementation, and ongoing monitoring of cash balance plans.

In this episode, we define what a cash balance plan is and how it’s different from a defined benefit plan (hint: they’re similar, but still different), what influences whether one would go DB vs Cash balance plan, how investing your plan assets impacts overall plan funding requirements, how cash balance plans influence the funding strategies of a defined contribution plans like a profit sharing plan, and the positive changes that took place in the wake of SECURE Act 2.0 passing.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership in January of 2024, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Charlie Steingas. Check out the Case Study video: https://bit.ly/3IkDn4N   

Resources:

20/20 Money Community Information

https://www.cashbalanceactuaries.com/ 

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Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Michael Neal, OD and this is another episode in which I experimented a bit with the format of 20/20 Money: we recorded this episode at 8,000 feet, flying from Indianapolis to Chicago! As you’ll hear in the beginning of the episode, Mike was in town meeting up with other successful practice owners from around the country. They’re all friends and have turned their personal friendships into a professional mastermind group, where they get together at least one time per year to exchange ideas, talk about the business of optometry, share what’s working in each of their practices, and learn what’s not working…all in the spirit of helping each other deliver a great patient experience while running highly efficient and profitable practices.

As Mike and I were chatting during one of our recent recording sessions for the show, he mentioned that his return flight home to Pennsylvania was departing from O’Hare and that he was riding up to Chicago with one of the guys in the group on Friday morning. Knowing my calendar was flexible…and having the idea of capturing some of the ideas from his recent meeting…and ALWAYS looking for a reason to fly, I invited to give Mike a lift on a short flight to Chicago Executive airport and from there he could take a 15-minute Uber to ORD. During our flight, Mike shared some insights and takeaways from his meeting, the topics of which you can see in the title of this episode.

I hope you like this different format of the show. It’s one that I may do more of from time to time, as the situation presents itself. If you have thoughts either way, you can email me via the link in the show notes of this episode.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership in January of 2024, please check out the link in the Resources to learn more about what we have in store for you! In next week’s episode, I’ll have more information on some upcoming webinars that you can attend which will give you a sneak peak into the membership and details about joining the first cohort!

And with that introduction, I hope you enjoy my airborne conversation with Dr. Mike Neal, OD To see some video of this podcast recording, please subscribe to our YouTube page: https://bit.ly/49F6pb7 

Resources:

20/20 Money Community Information

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Welcome to this episode of 20/20 Money! My guests on today’s show are Drs. Eric Baas and Bob Steinmetz, co-founders of iCare advisors, a consulting firm dedicated to the success of cold start practices nationwide. With close to 350 successful cold starts nationwide and 11 practice starts between them, I was really excited to have them back on the show to talk through the “state of the cold start” marketplace—looking back on 2023 as well as looking forward (as best they can) to what’s coming down the pipe here in 2024. We spend time talking through  data that their team has compiled directly from the source—that is to say it’s not self-reported—and what they’ve learned from that data that is helping cold start ODs be successful. We also take a bit of a trip down memory lane, with both Bob and I sharing some pieces of data that we both just happen to come across in our respective archives, that show just how much optometry has changed over the years, and why that should give us so much confidence on the success of private practice into the future. We discuss rural optometric practices and what they’re observing as established practices are looking to sell and how they reconcile that with a younger OD that is faced with the decision of buying that established practice vs cold-starting in the area (hint: if you are an owner of said rural practice, we share an offer/statement you should most definitely NOT share with anyone). We wrap up the conversation with a light-hearted discussion about how both of them manage to get so much done in all of their businesses.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership in January of 2024, please check out the link in the Resources to learn more about what we have in store for you! In next week’s episode, I’ll have more information on some upcoming webinars that you can attend which will give you a sneak peak into the membership and details about joining the first cohort!

And with that introduction, I hope you enjoy my conversation with Drs. Eric Baas and Bob Steinmetz.

Resources:

20/20 Money Community Information

iCARE ADVISORS

Buy Back Your Time by Dan Martell

Bob’s Review of Optometric Business Article

Warming up to cold starts Part 1

Warming up to cold starts Part 2

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Welcome to this episode of 20/20 Money! My guest on today’s show is Kevin Wills. Kevin is Sr. Vice President, Healthcare Business Banking with PNC Bank and I wanted to have Kevin on the show to discuss the state of lending, specifically in the healthcare space, from a nationwide perspective. In this episode, Kevin and talk about steps borrowers can take to put themselves in the best financial position prior to going through underwriting, how important projections and pro formas are in the underwriting process, how the banking landscape has changed as more and more banks have focused on healthcare lending, and a number of other topics.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Kevin Wills.

Resources:

20/20 Money Community Information

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Welcome to this episode of 20/20 Money! My guests on today’s show are two more of my favorite people in the optometry space: Drs. Chris Wolfe and Kyle Klute.

Although, this is a bit of a different episode in that they’re not only guests on the show…they’re guest hosting the show! This is another 20/20 Money Takeover and basically a response to the first takeover episode I release with Drs. Jennifer Stewart and Jeremy Ciano (link here). Kyle was kind enough to reach out to me after the original takeover episode aired and shared some perspectives and opinions on the show and, in true transparency, included Jeremy and Jennifer on the message thread. There was a lot of great convos had and I thought that having Kyle and Chris on the show to talk about “the response” to the first takeover was a great idea.

What neither of the duos know, though, is that I already have an idea for a 3rd episode: getting the four of them together on a virtual roundtable and just hitting record. No agenda. No topics. No script. Not even really a time limit. Just the four of them and a couple of microphones. It’ll be like a battle royale, optometry-podcast style.

Long time listeners will know that my introductions usually give you a bit of an insight into the topics that’ll be discussed on this show. Not this one. Again, just like the first one, I’m listening to it for the first time right alongside you.

I’m excited to hear what they talked about and will be curious to hear your feedback (if you’re so inclined). If you do have feedback for the show (on this episode or any other episodes), you can always email the show at podcast@integratedpwm.com.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership in January of 2024, please check out the link in the Resources to learn more about what we have in store for you! In next week’s episode, I’ll have more information on some upcoming webinars that you can attend which will give you a sneak peak into the membership and details about joining the first cohort!

And with that introduction, I hope you enjoy this 20/20 Money Takeover with Drs. Chris Wolfe and Kyle Klute.

Resources:

20/20 Money Community Information

Eyecode Education

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Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Ted McElroy. This is part two of our conversation that we teased on last week’s episode, and today Ted and I talk about the importance of resilience as a trait and quality that we should all embrace. He shares what resilience has meant to him in his life and how it was demonstrated throughout his life, most influential and notably by his grandfather, and how he’s strengthened that quality over his life…and how that’s benefited him in his life personally and professionally. From my perspective, I share some thoughts on the importance of resilience as it pertains to your money as well as why journaling is one of the single most important actions you can take today to improve how you think about resilience and how you respond when faced with any type of challenge or setback.

If you remember back to last week’s episode, you’ll remember that I accidentally had the wrong mic IDed with my recording software. Since Ted and I recorded these conversations back-to-back, this episode is the same way. Big shout-out and kudos to my producer Kyle for being the audio ninja that he is and doing the best he could to turn the episode audio into as best of a finished product as he could. Again, I appreciate you Kyle!

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership in January of 2024, please check out the link in the Resources to learn more about what we have in store for you! In next week’s episode, I’ll have more information on some upcoming webinars that you can attend which will give you a sneak peak into the membership and details about joining the first cohort!

And with that introduction, I hope you enjoy my conversation with Dr. Ted McElroy, OD.

Resources:

20/20 Money Community Information

The Coaching Habit by Michael Stanier Bungay

The War of Art by Steven Pressfield

Link to Ted’s podcast

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Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Ted McElroy. This is part one of our conversation where we talk about the importance of vulnerability as a leader, and why the two traits (vulnerability from today’s episode and resilience from next’s week’s episode) are intertwined. That is to say you can’t have one without the other. I believe Ted and I hit on a number of very important ideas in this albeit abstract conversation, but it’s one that I really enjoyed…and I actually do a pretty decent job of weaving in some personal and business finance into the conversation! We wrap it up with Ted sharing great questions to ask your team in a 1:1 setting and why that’s been beneficial for him.

Lastly, I must admit that, even 250+ episodes into 20/20 Money…I still make mistakes…which I guess is fitting for the topic of this episode: I had the wrong microphone in use for the recording. So while Ted sounds very crisp, I sound like I’m recording using the built-in mic on my MacBook…which is exactly what happened. For you the listener, I’m sorry about that and hope that it doesn’t detract away too much from the content and message of the episode.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership in January of 2024, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy part 2 of my conversation with Dr. Ted McElroy.

Resources:

20/20 Money Community Information

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Welcome to this episode of 20/20 Money! This “housekeeping” episode is all about knowing the timely and relevant numbers that impact your various savings strategies as we enter into the new year. I also spend some time talking about an awesome new feature for defined benefit plans (thanks to SECURE Act 2.0) and a PSA to all of you that received the ERC in 2023 (or anticipate receiving it in 2024).

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars.

Resources:

20/20 Money Community Information

Backdoor Roth Episode

Per pay period numbers for 401k contributions:

$958.33/pp at 24

884.61/pp at 26

1270.83 at 24

1173.07 at 26

Lively HSA

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Welcome to this episode of 20/20 Money! Kicking off the new year, I wanted to share with you three important questions I ask myself that I’ve found to be very valuable and impactful when considering new projects, initiatives, or “asks” that occur throughout the year. These questions, when asked successively and answered together, can help bring a lot of clarity around where and how you spend your capital of time, money, and energy.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership in January of 2024, please check out the link in the Resources to learn more about what we have in store for you! In next week’s episode, I’ll have more information on some upcoming webinars that you can attend which will give you a sneak peak into the membership and details about joining the first cohort!

And with that introduction, I hope you enjoy this solo episode, and Happy New Year!

Resources:

20/20 Money Community Information

Belay Solutions

The Power Practice

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Welcome to this episode rewind of 20/20 Money! I think I’m starting a bit of a tradition, because I felt compelled to bring back this episode again, just like I did last year, for the last episode of the 2023!!

Given that this is the last episode of the year, this is usually when we are thinking about goal setting, and everyone’s schedule is anything but normal being the day after Christmas, I wanted to bring back the conversation that I had with my friend, business collaborator, and advisor coach Stephanie Bogan from early 2022. I’ll share some info about Steph here shortly in the intro and then close out this introduction with some personal thoughts and reflections.

While Stephanie has built and sold a number of businesses in her career, most recently she is the founder of Limitless Adviser, a coaching program where she empowers financial advisors to create and build wildly successful practices and a life that they love. This was a special conversation for me as I’m also privileged to be involved in that program—first as an advisor that was being coached by Stephanie and now currently serving as an advisor coach, where I help coach and empower other advisors to work intentionally on their practices by applying the mindset and methods that Stephanie teaches in the curriculum and that I’ve learned over the years as well.

In this conversation we talk about something that tends to be popular around this time of year: goal setting. However, we talk about it from a bit of a different angle, which is first spending time focusing on your purpose and intention for building what you’re building and how money plays a role in that plan. We talk about it from two angles: the first being the practice owner that’s at the tail end of their career and facing an inevitable transition from their practice and also from the lens of a younger practice owner that has many years in front of them. We talk about some of the “sacred cows” that exist in practice ownership, why some of them should be questioned, and how to think about solving those problems. We wrap up with Stephanie’s very powerful answer to the one question that I ask every first-time guest on 20/20 Money.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership in January of 2024, please check out the link in the Resources to learn more about what we have in store for you!

Now over 250 episodes into 20/20 Money, this show has continued to grow and develop into something bigger than I thought it would have and I’m eternally grateful for everyone that’s been involved in the show. To all my guests that have given their time to come on the show and share their perspective, experience, and expertise—thank you. To my producer Kyle— yet another thank you for all your help with the show. From getting it initially set up in 2018 to handling everything with the show after I’ve finished recording an episode…I appreciate all that you do for the show. And lastly, to you, the listener of the show. Whether this is your first episode, or you’ve listened to dozens (or even hundreds!) of them, I’m sincerely grateful for the intimate, albeit asynchronous relationship that we’ve been able to have. My goal is to have positive impact at scale in the optometric community and help practice owners make educated and informed decisions with their money and this podcast has allowed me to have a platform to share not only my knowledge and experience but also the experience of the guests that I’ve had on the show. I have always tried to keep the show as objective and unbiased as possible. I’ve never taking a dollar of sponsorship money, no guest has ever paid to be on the show, nor have I ever paid a guest to be on the show. This podcast is organic and authentic, and your continued support through listening and sharing the show is something that I’m both humbled and grateful for and I look forward to another great year in 2024!!

A couple of big announcements that I’m now far enough along in development to share with you all and to keep an eye out for (see what I did there) coming into 2024:

·         I’m going to be launching OD Masterminds™. The goal with the masterminds is to bring three key qualities to the group: clarity, accountability, and camaraderie. I’ll have more details in early January about how you can learn more about the masterminds and what’s required to qualify for them, so stay tuned. I’ll share in a future episode intro during the first couple weeks of January

·         I’m in the final stages of writing a book! The (working) title is How to Buy an Optometry Practice and it’s going to take buyers through an A-Z process of buying an optometry practice. Whether you’re an associate already in a practice that you’re wanting to buy into, looking for one nationwide, or just curious to learn more about it…this book will have everything you’ll need.

·         Along that same note, we’re going to be launching OD Transitions™, which will serve as a completely separate set of services to help in the valuation and transition of private practice, specifically from OD-to-OD. Again, I’ll have more on that in early January, so don’t skip through the intro of future episodes, because that’s where I tend to nest these updates.

I hope you’re all having an enjoyable holiday season and we’ll talk to you next year!

And with that long introduction, I hope you enjoy the last episode of 2022 with Stephanie Bogan.

Resources:

20/20 Money Membership Information

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Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Bethany Fishbein, CEO of The Power Practice and host of the Power Hour podcast.

On today’s episode we continue our dialogue that we started on my last appearance on the Power Hour podcast, which was around year-end planning. However, this conversation starts with the non-financial decision-making process that practice owners should be considering as they map out the direction of their practice going into the new year, specifically around the addition of treatments, therapies, and services they can provide to their patients.

Bethany shares great insights on how practice owners can start thinking about which treatment/therapies/services ODs should consider in their practice, the dangers of giving into FOMO and the bandwagon effect, how to present change to both your team as well as an associate OD you might have in the practice, and the importance of understanding the opportunity cost of these decisions. We wrap up conversation by distilling all of this down into the most important KPI (key performance indicator) that you should be tracking and reconciling a decision like this against in your practice.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership in January of 2024, please check out the link in the Resources to learn more about what we have in store for you! In next week’s episode, I’ll have more information on some upcoming webinars that you can attend which will give you a sneak peak into the membership and details about joining the first cohort!

And with that introduction, I hope you enjoy my conversation with Dr. Bethany Fishbein, OD.

Resources:

20/20 Money Community Information

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Welcome to this episode of 20/20 Money! My guest on today’s show is Erik Ferjentsik, MBA, founder of Visionary Practice Group.

Erik and I have good, spirited discussion about transitions and what he’s seeing in the marketplace right now. We spend some time giving an update on the state of private equity, some common mistakes that he sees being made, the difference of listing with a broker vs “just” paying for a valuation and then shopping/listing it on their own through their own network, and a number of other topics.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Erik Ferjentsik.  

Resources:

20/20 Money Community Information

Review of Optometric Business PE article

Links to previous conversations with Erik’s conversations on 20/20 Money

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For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!

Welcome to this episode of 20/20 Money! My guest on today’s show is Jackson Pace, founder of the Refractional CFO. Jackson and I talk through some of the year-end planning considerations that are likely on OD practice owners’ minds and how to think through that decision matrix. We talk about the importance of essentially beginning with the end in mind, evaluating paying cash vs financing a new piece of equipment, how purchasing equipment should be thought of for owners that are looking to sell in the near future, and other mistakes and misunderstandings that we’ve both observed in the work that we do.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Jackson Pace.

Resources:

20/20 Money Community Information

Jackson’s first appearance on 20/20 Money

Review of Optometric Business: How to use debt in your practice

Review of Optometric Business: How Best to Grow the Cash You Choose to Keep in Your Practice

Schitt’s Creek Write-off clip

Refractional CFO

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Welcome to this episode of 20/20 Money! This is my guest appearance on The Power Hour podcast hosted by Dr. Bethany Fishbein, OD, CEO of The Power Practice.

I really enjoyed this conversation with Bethany and was grateful that she had me back on her show. We talked about year-end planning considerations (both financial and otherwise) and how practice owners can be thinking more intentionally about their practice as they prep for the upcoming new year. If you don’t already, I put links to Power Practice in the show notes and I really encourage you to subscribe to their podcast.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Dr. Bethany Fishbein.

Resources:

20/20 Money Community Information

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Welcome to this episode of 20/20 Money! This episode is my guest appearance on Akrinos Access Live, a livestream hosted by Erich Mattei, founder of Akrinos. Erich had me on his series to talk through practice succession options for sellers. The specific option that we discussed during this conversation was around owner-financing. I share my thoughts on the benefits and exchanges of owner financing and how that decision impacts other aspects of the selling process.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my guest appearance with Erich Mattei.

Resources:

20/20 Money Community Information

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Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Mila Ioussifova. Dr. Mila is founder of South Waterfront Eye Care in Portland, OR and she joins me on the show to talk about her journey as a successful, 10yr old cold start. What’s unique about Mila, though, is how intentional she’s been about how she runs her practice and the role that she plays in her businesses. During our conversation, she’ll share her journey as a cold start and why she chose the location that she did, how she’s delegated things in the practice, the progression of cutting down days in clinic to reallocate that time to reinvest in herself to expand the services that she provides to her patients, why she went back to school to pursue another passion, and what impact all of these decisions have had on her—personally, professionally, and financially.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Dr. Mila Iousifova.

Resources:

20/20 Money Community Information

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Welcome to this episode of 20/20 Money! My guests on today’s show are two of my favorite people in the optometry space: Drs. Jeremy Ciano and Jennifer Stewart.

Although, this is a bit of a different episode in that they’re not only guests on the show…they’re guest hosting the show! I decided to try something different and essentially just turn the show over to them. No agenda. No topics. No script. Not even really a time limit. Just the two of them and a couple of microphones.

My introductions usually give you a bit of an insight into the topics that’ll be discussed on this show. Not this one. I’m listening to it for the first time right alongside you.

I’m excited to hear what they talked about and will be curious to hear your feedback (if you’re so inclined). If you do have feedback for the show (on this episode or any other episodes), you can always email the show at podcast@integratedpwm.com.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you! We are on pace for a January 2024 launch, so if you’ve been thinking that next year is THE year to get organized financially but you don’t quite feel ready to commit to a 1:1 relationship with an advisor, then I think you’ll really like what we have in store for the Membership. We’ll be announcing some launch webinars shortly where we’ll go into more detail and give a bit more of a behind the scenes look at the membership, so if you’re interested in learning more, please click on the link in the show notes to receive updates on the Membership.

And with that introduction, I hope you this unique and exciting episode of 20/20 Money.

Resources:

20/20 Money Community Information

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As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

Resources:

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Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Gina Wesley, OD.

Gina joins me back on the show to talk about the journey she's been on over the better part of year simultaneously launching an in-house patient membership plan called "the 2020 club" while also going out of network with her last (and largest) vision care plan. Gina talks through how she proceeds to evaluate the impact that it was going to have on her practice and the goals that she set which initially defined success. She shares how she  communicated this strategy with all of her stakeholders: her associate ODs, her team, and the patients of the practice. She's very transparent in this conversation by sharing her "before and after" numbers as it pertains to number of patients seen and how that's translated into the impact on both her top line revenue as well her profit margins. Lastly, we talk about the personal head trash she worked through as the transition progressed and how she dealt with it.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Dr. Gina Wesley, OD.

Resources:

20/20 Money Community Information

Resources:

Fear Setting TED Talk

Fear Setting Resources

Gina's previous scheduling interview on 20/20 Money

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Welcome to this episode of 20/20 Money!

In this episode, we have a special guest joining us, Dr. John Rumpakis. 

Dr. Rumpakis is a medical coding consultant for OD’s, and founder of CodeSAFEPLUS, which gives you the knowledge and factual data you need to be safe, compliant, and profitable in today’s healthcare environment.

Today Dr. Rumpakis will walk us through a step-by-step process for optimizing practice revenue, including identifying the right CPT codes, setting appropriate prices, and leveraging automation to streamline the revenue cycle.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan life on purpose. 

You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. 

You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Dr. John Rumpakis. 

Resources: 

Codesafeplus.com

PRMI

Sign up for the the 20/20 Money Membership™

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Welcome to this episode of 20/20 Money! My guest on today’s show is Nathan Hayes with IDOC. Nathan joins me back on the show to revisit a topic that we’ve discussed in the past but is worth revisiting on another episode: partnerships. Nathan and I share both of our experiences and thoughts about practice partnerships at all stages of their lifecycle: before, during, and towards the end of a partner’s career. We talk about how partnerships can be formed and structured, each of our thoughts on the idea of 51/49 partnerships, options to consider if there are disagreements, and more.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Nathan Hayes.

Resources:

20/20 Money Community Information

The Partnership Charter by David Gage

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Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Heidi Bell, OD, FCOVD. Heidi is a partner in Elite Eyecare, which houses Elite Vision Therapy within the practice and joins me on the show to talk about the success and passion she has for vision therapy and how following that passion has led to incredible success in the practice and fulfillment for her—personally and professionally.

This was a very enjoyable conversation and we start off by talking about her journey in practice ownership and how a focus on vision therapy took hold in the practice and what it’s meant to her, her team, and her patients. She shares both the strategy and tactics that worked well and what didn’t work when building out VT inside of the practice. She also talks about her pricing model and what the economics of VT have meant to the overall financial success of the practice. She also shares a number of resources that have helped her through the various stages of VT success in her practice as well as what steps you should consider taking if you’re considering implementing vision therapy inside of your practice. And one final note, Heidi did confirm the percentage revenue from VT to be around 20% with the caveat that it can be difficult to nail down that number as there’s a trickle effect from VT patients and “cross-pollination” of revenue, so the 20% is likely low. This last point will make a lot more sense towards the end of this conversation.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Dr Heidi Bell.

Resources:

20/20 Money Community Information

PAVE (Dr Santiz) course out of San Diego. Teaches functional vision and how to implement.

Dome Eye Stretches example.

Tony Bristol (consultant in FL).

DIGI Vision (online courses...old COVD courses that are recorded).

COVD, OEP foundation (oepf.org), look at Functional vision into SECO and others

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As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

20/20 Money Community Information

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Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Andy Yaryan, OD.

Andy and I have a great and wide-ranging conversation. Andy shares why his culture has been so important to his success and demonstrative ways in which he measures culture in his practice, why focusing on the two things every human wants can be instrumental in productive team members, a number of lessons he's learned by being involved in a dental practice coaching program, and other best practices that have helped him elevate his success. I really enjoyed this conversation and hope you find it as informative as I did enjoyable to record.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Dr. Andy Yaryan, OD.

Resources:

20/20 Money Community Information

Scheduling Institute

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Welcome to this episode of 20/20 Money! My guest on today’s show is Mike Jorgenson with Carr Healthcare Realty. Mike joins me on the show to discuss all things real estate and optometric practices and we discuss many different aspects of real estate. We talk about evaluating the location of your practice, buying vs leasing, the timeline for buildouts, why it’s a mistake to just call the number that’s in the window of a space for lease, the size of space to consider when thinking through the growth plans of your practice, and many other topics.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Mike Jorgenson.

Resources:

20/20 Money Community Information

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Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Matt Mitchell, OD. Matt joins me back on the show to put a light-hearted spin on some of the traditional practice benchmarks that are used in the profession. He talks about benchmarks that he feels are a bit over-rated in their use and dependency and which complementary benchmark that could be used that is under-rated, but still very impactful in helping you know the KPIs (key performance indicators) of your practice that can help you run a smooth and profitable practice.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Dr. Matt Michell, OD.

Resources:

20/20 Money Community Information

Episode 182 (Three Variables that influence revenue)

Episode 178 (Scheduling to profitability with Dr. Gina Wesley)

SolutionReach (Software for recalls)

Buying and growing a rural optometry practice

Adding an associate by understanding marginal chair cost

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Welcome to this episode of 20/20 Money! My guests on today’s show are Mike Kogelis & Dr. Julie Helmus, OD. Mike and Julie join me on the show to talk about the growth of each of their respective businesses—Mike as the co-owner with his wife Dr. Rasa Tamulavichus of Big City Optical, a 17 location practice in the greater Chicagoland area and Dr. Julie Helmus, the G2 owner of Helmus Optometry, a super-single location in Davis, California.

In this enjoyable conversation, we talk about the mindset involved in deciding to go multi-location vs staying single, how Mike solved economies of scale within their multi location practice and how Julie’s thinking through the same goals within her practice, the “skill of observation” that most business owners possess, how they each think about reinvestment of capital back into the business and their funding model to feed expansion, and how remote optometry is helping Big City Optical “scale special” within their practice. This was a really enjoyable conversation and I hope you enjoy hearing these two great perspectives from two accomplished practice owners.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Mike Kogelis & Dr. Julie Helmus, OD.

Resources:

20/20 Money Community Information

10X is Easier Than 2X

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Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Pete Kehoe, OD. This intro is packed with great info, so I hope you’ll listen to the entirety of it before jumping forward to the conversation.

Pete and I share in a great conversation focused around one of the more important facets that impact a successful and cohesive practice: ensuring you have the right team members in the right roles within the practice doing work that they are inherently great at doing. We have this conversation based on the lessons and teachings from Patrick Lencioni in his new book The 6 Types of Working Genius.

As a certified Working Genius facilitator, Pete is uniquely qualified to talk through the concepts discussed and taught in the book as he’s worked with a number of practices that have taken the assessment. We have a spirited discussion about getting the most out of your team members in your practice and doing it in such a way that it’s rewarding and empowering for them in the work that they do. We finish the conversation with Pete taking me through a discussion about my own team’s working geniuses at our firm, Integrated Planning & Wealth Management, which was a lot of fun to do live on the show.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Dr. Pete Kehoe, OD.

Resources:

20/20 Money Community Information

L2LtttVirtual.com

Working Genius Assessment (20/20 Money Offer)

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For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!

Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Matt Mitchell, OD. Matt joins me back on the show in response to a very thoughtful piece of feedback he sent me about his view on debt and money after listening to a number of episodes of the show. Matt’s been a long-time listener of the show and has also been a guest a number of times. I really appreciated Matt sending the feedback and rather than dialogue about it 1:1, I thought his viewpoint would make for a very enjoyable conversation to share with the entire community of 20/20 Money listeners. We talk about Matt’s journey to being debt free, what caused him to change course, the impact it’s had on him and his family, how he views investments back into the practice, how he thinks about the opportunity cost of waiting by paying cash rather than financing purchases, and other viewpoints.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Dr. Matt Mitchell, OD.

Resources:

20/20 Money Community Information

Buying and growing a rural optometry practice

Adding an associate by understanding marginal chair cost

Zac & Joelle Holland episodes (Part 1 and Part 2)

Dave Ramsey

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Welcome to this episode of 20/20 Money! On today’s episode I share some insights and experience as to why there can be a disconnect between owner and associate when it comes to establishing a buy-in price on a practice in which the associate has been working. This misalignment of value happens all-too-often and I’m hoping that this conversation can give you insights as to what both parties are thinking compared to what is correct and fair.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

Resources:

20/20 Money Community Information

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Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Mike Neal, OD. Mike owns both a private practice in rural PA and is also the founder of Build My Team, a platform intended on helping practice owners nationwide simplify and streamline the hiring process for non-OD team members. Mike joins me to talk about how he flipped hiring on its head for his practice and how he’s built an entirely different service and process to help ODs hire the best candidates for their practice to ensure that they have a highly efficient, highly successfully, and highly profitable practice. I’ll be honest—this was one of those conversations that I kept probing for a hole, gap, or “gotcha” in the conversation, but Mike was very transparent and had had an answer (and data!) for all the questions.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Dr. Mike Neal, OD.

Resources:

20/20 Money Community Information

Build My Team

Rocket Fuel

Strategic Coach

Kolbe Index

CliftonStrengths®

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Welcome to this episode of 20/20 Money! My guest on today’s show is Kayla Ashlee. Kayla is the creator behind Spexy, an online training platform that’s built to help independent ODs and their teams make the most out of their optical and empower them to embrace change in their practice. Kayla joins me back on the show to talk about the importance of tracking frame turnover in your optical and how important it is to track that data and what it can mean for your numbers. We also talk about pricing within your optical, defining the basic econ term “price elasticity of demand,” independent brands vs “the big names” and its impact on optical, how ODs should think about evaluating frames, and the “kiss of death” in optical based on the threshold of limited retail to showcase in your practice.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Kayla Ashlee.

Resources:

20/20 Money Community Information

Spexy

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Welcome to this episode of 20/20 Money! My guest on today’s show is Jackson Pace. Jackson joins me on the show today to talk through his journey working for a growing and thriving practice as a CFO and the lessons he’s observed along the way that he’s helping apply to the work that he does with practice owners around the country. We talk about when he thinks a practice is ready for a full-time CFO, the biggest challenges in understanding the cash flow of a practice, the cadence of reviewing financials, and other interesting points.

As a reminder, you can get all the information discussed in today’s conversation by visiting our new website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Jackson Pace.

Resources:

20/20 Money Community Information

Kayla Ashley Episode (BeSpexy)

GPN EDGEPro

www.refractionalCFO.com

Richens Eye Center

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Welcome to this episode of 20/20 Money! On this episode I talk about the importance of having a multi-year timeline when deciding to sell your business and why factoring your practice’s perceived or actual potential into the valuation isn’t a strategy that’s going to actually show up in the value of your practice..

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

Resources:

20/20 Money Community Information

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Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Julie Helmus, OD. This is part 2 of my conversation with Julie and in this episode, we dive deeper into the deal structure of buyer her parent’s practice, how it was funded, the current org chart of the practice, and some of the pieces of tech that they are using to manage a practice as large as theirs. Julie is also gracious in sharing some detailed numbers of her practice and we talk about the trajectory of the practice going forward. We wrap the conversation by talking about her passion with a new service that her practice is offering and her passion surrounding this type of care as well as thinking through the difference between a CEO and a business owner.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Dr Julie Helmus, OD.

Resources:

20/20 Money Community Information

Weave

Loom

Crystal

Helmus Optometry

Avulux Lenses

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Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Julie Helmus, OD. Julie joins me on the show to share her journey into practice ownership as the G2 owner of Helmus Optometry (IOW, buying her parent’s practice). She shares the journey that she went through as a partial owner, navigating perceived nepotism in the practice during the acquisition process, her decision to keep it a “super single” as opposed to growing into multiple locations, and the importance of having an experienced attorney look over your shareholder agreements. We finish our conversation with a discussion about business ownership and how hard it can be to take time out of the business...but why it’s so important to intentionally manage your time and take breaks from the business.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Dr. Julie Helmus, OD.

Resources:

20/20 Money Community Information

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Welcome to this 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 owners can think about setting their fees in relationship to the different 3rd party payors.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Dr. Chris Wolfe, OD.

Resources:

20/20 Money Community Information

CodeSafePlus

EyeCode Education

EyeCode Media Podcast

Adam’s in-flight conversation with Chris

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Welcome to this episode of 20/20 Money! My guest on today’s show is Matt Curts. Matt has a long and storied career. As a long-time CFO, he has a lot of experience working on businesses through the numbers. But, as Matt continued to lean into his passion and purpose, he realized that purpose and the pursuit of purpose is not limited to just a few but should be possible for everyone. He made the decision to leave corporate life and move into a ministry position within his church for four years, which ultimately led him on the path to co-found his current company Switchback. He’s passionate about giving away friendships and developing pathways for both leaders and team members to discover their whole life’s purpose.

In this conversation, Matt and I talk about the importance of culture in an organization, how practice owners should think about something as “intangible” but important as culture, some of the limitations he’s observed with personality profiles, the importance of nurturing a team member in their career to increase productivity, and what tools they can consider using to intentionally work on the culture in their organization. He also shares what it was like for him and his wife Stephanie (who is the OD) to take over a long-and-solo-owned, small-town based private practice and what that experience meant to both he and Stephanie as well as the team and former owner. He also talks about a process they use called “Life-mapping” to help team members better connect with their purpose and thus increase their connectedness to the practice, which thus increases their efficiency and ultimately the profitability of the practice. He also talks about why it’s important to stop looking for what’s wrong and start looking for what’s right in team members and within the practice.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Matt Curts.

Resources:

20/20 Money Community Information

Top Strategies for Employee Retention

Switchback website

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Welcome to this episode of 20/20 Money! My guest on today’s show is Ali Oromchian. Ali joins me back on the show to talk about a not-too-common but very important part of any partnership: the terms and conditions of the buy/sell agreement that essentially is a part of every partnership. The extent to which the terms of the buy/sell are explicitly documented, however, can be wide-ranging.

In this conversation, Ali and I define a buy/sell, how they work, some of the key elements of a buy sell, who needs one, and valuation ideas for quantifying the value of the practice. We also talk about pros and cons of a 51/49 partnership agreement, different triggering events of a buy/sell, and how one should protect themselves against financial decisions of their partner should financial insolvency become an issue.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them ultimately live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Ali Oromchian.

Resources:

20/20 Money Community Information

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Welcome to this episode of 20/20 Money! My guest on today’s show is Nathan Hayes with IDOC. Nathan joins me back on the show to give another perspective around the question I asked Erich on last week's episode: how should a potential buyer/future owner look at lower-revenue private practices and whether it's better to buy a "fixer upper" vs cold starting their own practice. This was another spirited conversation filled with anecdotal examples of what can go right and wrong when purchasing practices and planning for the eventual succession of a private practice. We touch on a variety of topics, ranging from financing options, how valuations are determined and when they can be more harm than good in the succession of a practice, and another reminder about how all of these decisions still emphasize the importance of having a plan and understanding the role that your practice plays in your overall financial plan.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Nathan Hayes.

Resources:

20/20 Money Community Information

IDOC

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Welcome to another episode of 20/20 Money. My guest on today's show is Erich Mattai with Akrinos. My conversation with Erich is essentially one of two conversations that I had with two different guests (the second guest/conversation will be next week's episode), all focused around one question: what should someone do if they're considering buying (or selling) a low-revenue private practice. To put context around this number, we're talking about private practices that are grossing somewhere between $400-700k in collections. The question that I posited to Erich was how a future owner should think about the decision matrix of whether to buy a "fixer upper" practice with possible latent potential or whether they should forego that practice and just strike out and cold-start on their own. We discuss financing the purchase of an existing practice compared to a cold started. We also have a spirited discussion around this topic as well as how an owner can evaluate the ROI of an established practice vs a cold start over the long term.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our newsletter and you can also set up a 20-30min Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Erich Mattai.

Resources:

20/20 Money Community Information

Akrinos

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Welcome to this episode of 20/20 Money. My guest on today's show is Dr. Ted McElroy, OD. Ted's become a good friend and collaborator over the years and there are few individuals that I've met that are more vocal and passionate about communicating the importance of developing leadership skills to private practice owners. In today's conversation, Ted and I go through an abridged version of the presentation that he presented at Vision Expo East titled "The 3.5 tools of leadership." Ted also walks us through a great, 4-level hierarchy of delegation that he uses when thinking about how he can free up his time to focus on only the best and highest impact projects and initiatives in his practice.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our newsletter and you can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Dr. Ted McElroy, OD. 

Resources:

20/20 Money Community Information

Patrick Lencioni's Working Genius Assessment

Patrick Lencioni

Strategic Coach Impact Filter

Vision Source

Vision Expo East

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Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Mick Kling, OD (Mick’s Practice, info on Mick’s Impact Leadership business). Mick joins me on the show today to talk about the balance and “passing of the torch” from the seller to the buyer if the seller decides to stay in the practice and work post-sale and what that means for the culture of the practice. We talk about the idea of high power/low power positions of authority, the difference between direct and indirect communication styles, why it’s likely inevitable that you’ll have turnover in the practice post-close (and why that’s not necessarily a bad thing), and that despite the perceived challenge of maintaining and understanding culture, we know that success isn’t just possible, but probable from one generation of practice owners to the next.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Dr. Mick Kling, OD.

Register for our zoom webinar on May 3rd with Dr. Todd Cohan, OD: https://bit.ly/41zwaWA 

Resources:

20/20 Money Community Information

A deep dive into practice transitions with Mick Kling (Part 1)

A deep dive into practice transitions with Mick Kling (Part 2)

Built to Sell by John Warrillow

Social Contagion Theory

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Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Bethany Fishbein, host of the Power Hour podcast and CEO of The Power Practice. Bethany joins me on the show to talk about how making tiny improvements in your practice and lead to remarkable financial results in your practice. This is another conversation had through the filter of what James Clear talks about in his book Atomic Habits, but this time Bethany shares ideas and concepts from the practice management point of view. From actually charging for retinal photos to changing your pt load on different days of the week and tweaking your schedule, Bethany shares a number of examples in this conversation from practices she’s worked with that have made small changes and thus experienced remarkable results—financially and otherwise!

Included in the show notes of this episode is a link to James Clear’s website where you can sign up for a free 30 day course that James created to help guide you through habit building and stacking. (I have no affiliation, just a follower of his work and the impact that it can have on peoples’ lives).

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Dr. Bethany Fishbein, OD.

Register for our zoom webinar with Dr. Todd Cohan, OD: https://bit.ly/41zwaWA 

Resources:

20/20 Money Community Information

James Clear Habit Journal

James Clear Homepage with 30 days to better habits

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For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!

Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Todd Cohan, OD (email; website). Todd joins me back on the show to unpack the success that his practice had in 2022 and what made it his best year in practice—both in quality of work as well as profit margin.

We cover a lot of different areas in this conversation, including his continued expanding scope of care that he’s providing to his patients, how he evaluates and makes decisions on new technology and equipment to add into his practice, how he engages his team to stay focused on the objective, the flow of patients through his practice and how he positions his pretesting process, and what the culmination of all of that has meant to not only the high quality of care that he’s able to deliver to his patients but the positive financial impact it’s had on his business. And be sure to stick around to the end where we announce a follow up event to this conversation. If you’re really curious and don’t want to wait until the end, the link to the upcoming event is located in the show notes of this episode.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Dr. Todd Cohan, OD.

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Resources:

20/20 Money Community Information

www.integratedpwm.com/179

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Welcome to this episode of 20/20 Money! This was a very special episode of 20/20 Money, as it not only was live on location at IDOC Connection 2023 in Orlando with Nathan Hayes but also done in front of an audience with a Q&A session towards the end of the conversation.

Nathan and I talked about practice profits and household budgets and how to build personal wealth through the business of optometry. We discuss the cadence of distributions from the business to satisfy your personal budgetary needs, how to come up with a “basic” savings number and how close that will get you to retirement, the true “expense” of underpaying yourself a W-2 wage, and a few other topics. We wrap it up by taking a number of questions from the audience. This was no doubt one of, if not the most fun, I’ve ever had recording an episode of 20/20 Money and I hope you enjoy listening as much as I enjoyed creating the episode. A very special thank you to Nathan and the rest of the team at IDOC. I have appreciated the collaborative relationship and friendship that I’ve made with Nathan and others on the team and they are truly there to serve private practice and embody their slogan of “independent, together.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our newsletter and you can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my “on location” conversation with Nathan Hayes.

Resources:

20/20 Money Community Information

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In this episode, we'll talk about how you can use information from last year's tax return to plan proactively for the coming year. This approach can help you save money on taxes and avoid common mistakes and, as an optometric practice owner, take more agency over your cash flow during the course of the year. As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our newsletter and you can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!   Referenced 20/20 Money episodes Taxes 101 Savings Hierarchy for Optometrists Understanding estimate tax payments to proactively manage cash flow (eps 180)   Resources: 20/20 Money Community Information Credits and Deductions Under the Inflation Protection Act

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Welcome to this episode of 20/20 Money! My guests on today’s show are Drs. Zac & Joelle Holland, OD. Zac and Joelle join me back on the show to celebrate something that I know many younger ODs aspire to achieve and a number of seasoned ODs have already achieved: the paying off of their student loans. What makes their story so unique, inspiring, and empowering is the amount of student loan debt they had and how quickly they paid it off.

This is essentially “Part 2” of our conversation as I had them on the show way back on episode #86 to talk with them about the journey when they were in the thick of the repayment plan. On today’s episode they share a lot of insights and information. They’ll share how much and in what time period they paid it off, how the journey into practice ownership influenced their plan, how they think about debt going forward, and what they’ve learned throughout the process. They’ll also share an unexpected joy they’re experiencing on the “other side” of being debt free. I hope you’ll enjoy listening to this conversation as much as I enjoyed having it.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our newsletter and you can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Drs. Zac and Joelle Holland, OD.

Resources:

20/20 Money Community Information

Aupaircare

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Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Pete Kehoe, OD.

Pete joins me back on the show to talk through his journey as an investor when overlayed on top of his professional journey as a practice owner. He shares examples of successful and not-so-successful investments that he’s made, resources and platforms that have helped him become a more informed and educated investor, how he thinks about assets vs income, and how he thinks about the business of optometry relative to other investment ideas. The goal that we both had in having this conversation is to help ODs think intentionally about their investment goals and objectives and communicate the importance of aligning intention with action, specifically around the type of investing that ODs do on a consistent basis.

As a personal note (and admittedly from a compliance perspective as well), some of the resources that we mention in this conversation are not the ONLY way to build towards financial independence, but they are A way to build towards it. The best investment plan is one that you (a) understand, (b) can stick with, and (c) helps you accomplish your financial goals and objectives.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our newsletter and you can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Dr. Pete Kehoe, OD.

Resources:

20/20 Money Community Information

Bigger Pockets

Rich Dad, Poor Dad

Wealth Formula Podcast

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In this episode, we'll be discussing the concept of basis and its impact on taxes for S-corp optometric practices. Basis is a crucial concept that can affect the way S-corp optometric practices are taxed, and it's important to have a clear understanding of it. We'll break down the basics of basis, how it applies to S-corp optometric practices, and why it matters.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our newsletter and you can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

Resources:

20/20 Money Community Information

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On today’s episode, we’ll discuss the different ways a business can be formed and the way that each of those entity selection types is taxed to the shareholder/owner. We’ll also talk about different criteria to consider when selecting your entity type, why it may change over the course of your practicing career, and the importance of understanding the various short and long-term implications of underpaying yourself as a W2 employee. As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our newsletter and you can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

Resources:

20/20 Money Community Information

Apply for EIN through IRS website

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Welcome to this episode of 20/20 Money! This was my guest appearance conversation with Dr. Bethany Fishbein, OD, CEO of Power Practice and host of the Power Hour Optometry podcast.

On Bethany’s show, we dove a little deeper into some concepts and ideas that she shared in an episode of Power Hour towards the end of 2022, which was all around using the numbers of your practice to evaluate the success of your practice and planning for the next year. We continue that dialogue, but we put it through the filter of changing habits in the way that James Clear talks about in his book Atomic Habits. As always, this was a really enjoyable conversation with Bethany and we cover a lot of different angles—both personally and professionally—as it relates to your finances.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our newsletter and you can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Dr. Bethany Fishbein on The Power Hour podcast.

Resources:

20/20 Money Community Information

Atomic Habits

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Welcome to this episode of 20/20 Money! This week’s episode is my guest appearance on IDOC’s “Eye Own a Business” podcast hosted by Dr. Steve Vargo.

Steve had me on the show to talk about the relationship between business and personal goal planning and how related they are to one another. We talk about the importance of asking “why” before asking “how,” why it’s important to be specific when visualizing your goals, the importance of being intentional with your time and why practice owners are reluctant to delegate various responsibilities in their personal and professional lives.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our newsletter and you can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation on “Eye Own a Business” podcast.

Resources:

IDOC

Upwork

Fiverr

20/20 Money Community Information

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Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Chris Smiley, OD.

Chris joins me on the podcast today to talk about his journey as a multi-location owner and his evaluation as both an OD and business owner. He shares what prompted him to go into private practice and the catalyst that inspired him to start buying multiple locations in the Columbus, OH area. We talk about the importance of taking a self-inventory of how you think about yourself and how he’s not only acknowledged the fear he’s had in the various up-levels he’s taken in his life, but how he’s actually used that fear to fuel the next iteration of his practice, which continually turns out to propel him to the next level of success. We wrap up the conversation with some very actionable steps practice owners can take to perform a self-inventory of how you’re using your most precious—and limiting—commodity…and those of you that have listened to the show for any length of time know exactly which commodity I’m talking about.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our newsletter and you can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Dr. Chris Smiley, OD.

Resources:

20/20 Money Community Information

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Welcome to this episode of 20/20 Money! My guest on today’s show is Denise Logan.

Denise joins me on the show to talk about what I feel is an area of business ownership that is often overlooked and that is the subtle but very real and powerful emotional connection we have to our businesses. This is amplified when a practice owner is contemplating selling their practice and determining their transition readiness. We talk about her own transition to selling her business and what inspired her to do the work that she does today as well as discussion the relationship to your financial and emotional readiness. Denise gives us a good response the next time we’re asked the question “What do you do?” She’ll also provide some very pragmatic tools and questions to ask through self-reflection that can help you address the relationship you have with your practice as you plan for an eventual transition—whether that transition is months or decades in the future. This was a really enjoyable conversation that ties both the financial, behavioral, and emotional journey every practice owner will go on when they sell their practice.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our newsletter and you can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Denise Logan.

Resources:

20/20 Money Community Information

Life in Weeks calendar

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Welcome to this episode of 20/20 Money! My guest on today’s show is Ankit Patel. Ankit and I chat about how he and his wife have taken delegation and outsourcing in their practice to a whole new level by building part of their team overseas in the Philippines. We talk about their path through practice ownership and how they keep a pulse around their patient satisfaction. We also talk about their interview process and questions they ask, how they manage their team both stateside and overseas, impactful interview questions they ask, and the financial metrics that caused them to start looking for alternative solutions to their team. We then dive deep into the journey he’s been on building and managing a virtual team in the Philippines and the work they’ve started doing for other offices.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our newsletter and you can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Ankit Patel.

Resources:

20/20 Money Community Information

Culture index

My business care team

FreePBX

8x8

Asana

EOS®

ScribeHow

Loom

Trainual

Topgrading (book)

Who (book)

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Understanding the relationship between business risk and the multiples that are paid on practices is important for anyone that's buying or selling a practice to understand. In this episode, I'll discuss how multiples are calculated, the different ways we can think about risk when it comes to investing, and why it's important to make sure that you're being honest with yourself about the financial metrics of your practice.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our newsletter and you can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

Resources: Why Selling to PE Could COST You Six Figures!  20/20 Money Community Information

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Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Steve Vargo, OD with IDOC.

Steve joins me back on the show to talk about the idea of employee productivity and how that translates into the overall success of the practice. We bifurcate this topic by first talking about associate vs owner productivity and steps that an owner can take to increase productivity of associates in their practice. We transition then into talking about the front of practice activities (optical and front desk) and the importance of distilling the big practice goals down into measurable and impactful activities that each team member can take ownership improving over the course of the year.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our newsletter and you can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Dr. Steve Vargo.

Resources:

20/20 Money Community Information

The 12 Week Year by Brian Moran

Eye on Leadership by Dr. Steve Vargo, OD

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On this episode, I wanted to share a bit of a personal story about 3 lessons that I learned from my grandparents that have in large part shaped the money story and lessons that have guided my financial journey and how I view and use money money in my life. I hope this conversations gives you a benchmark and different viewpoint to compare your own money values and purpose. If you feel like you don’t have a grasp on your own money story and purpose, my hope is that it inspires you to start thinking intentionally about how you make spending and investing decisions with your dollars.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our newsletter and you can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

Resources:

20/20 Money Community Information

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Welcome to this episode of 20/20 Money! My guest on today’s show is Nathan Hayes with IDOC. Nathan joins me back on the show to have a continued dialogue about what it means to not only look at but actually use your practice financials to make good business decisions. In our conversation, we talk about the 7 key areas of expenses in an optometric practice that should be segmented on a profit loss statement, how a balance sheet is calculated, the range you should expect for both cost of goods and staff expense, the importance of reviewing your cash flow statement, and many other valuable pieces of information.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our newsletter and you can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Nathan Hayes.

Resources:

20/20 Money Community Information

IDOC Books and Benchmarking

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Welcome to this episode rewind of 20/20 Money! Given that this is the last episode of the year, this is usually when we are thinking about goal setting, and everyone’s schedule is anything but normal being the day after Christmas, I wanted to bring back the conversation that I had with my business coach Stephanie Bogan from the beginning of the year. I’ll share some info about Steph here shortly in the intro and then close out this introduction with some personal thoughts and reflections.

While Stephanie has built and sold a number of businesses in her career, most recently she is the founder of Limitless Adviser, a coaching program where she empowers financial advisors to create and build wildly successful practices and a life that they love. This was a special conversation for me as I’m also privileged to be involved in that program—first as an advisor that was being coached by Stephanie and now currently serving as an advisor coach, where I help coach and empower other advisors to work intentionally on their practices by applying the mindset and methods that Stephanie teaches in the curriculum.

In this conversation we talk about something that tends to be popular around this time of year: goal setting. However, we talk about it from a bit of a different angle, which is first spending time focusing on your purpose and intention for building what you’re building and how money plays a role in that plan. We talk about it from two angles: the first being the practice owner that’s at the tail end of their career and facing an inevitable transition from their practice and also from the lens of a younger practice owner that has many years in front of them. We talk about some of the “sacred cows” that exist in practice ownership, why some of them should be questioned, and how to think about solving those problems. We wrap up with Stephanie’s very powerful answer to the one question that I ask every first-time guest on 20/20 Money.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our newsletter and you can also set up a 45min Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

Now over 200 episodes into 20/20 Money, this show has grown and developed into something bigger than I thought it would have and I’m eternally grateful for everyone that’s been involved in the show. To all my guests that have given their time to come on the show and share their perspective, experience, and expertise—thank you. To my producer Kyle—thank you for all your help with the show. From getting it initially set up in 2018 to handling everything with the show after I’ve finished recording an episode…I appreciate all that you do for the show. And lastly, to you, the listener of the show. Whether this is your first episode, or you’ve listened to dozens (hundreds!) of them, I’m grateful for the intimate, albeit asynchronous relationship that we’ve been able to have. My goal is to have positive impact at scale in the optometric community and help practice owners make educated and informed decisions with their money and this podcast has allowed me to have a platform to share not only my knowledge and experience but also the experience of the guests that I’ve had on the show. Your continued support through listening and sharing the show is something that I’m both humbled and grateful for and I look forward to another great year in 2023!! I hope you’re all having an enjoyable holiday season and we’ll talk to you next year!

And with that long introduction, I hope you enjoy the last episode of 2022 with Stephanie Bogan.

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Welcome to this episode of 20/20 Money! As we approach the end of the year, I thought it would be appropriate to share with you the 5 books I think all OD practice owners should read in 2023, and why I believe they will have a valuable impact on your business.  As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our newsletter and you can also set up a 30min Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you! Resources 1. Turning the Flywheel: A Monograph to Accompany Good to Great

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Welcome to this episode of 20/20 Money! My guest on today’s show is Nathan Hayes of IDOC. Nathan joins me back on the show to talk about a goal that a certain subset of ODs aspire to achieve, and that is to embrace more of a CEO role in their practice and spend more time working ON and OUT of the practice than IN the practice clinically. We talk about what’s needed to make that transition, some of the self-awareness that’s needed to embrace that role, and what an OD should and should not be doing with their time while in admin mode. We then shift our conversation towards a current “state of the profession” in what we’re both hearing and seeing practice owners do in the dynamic, post-COVID economic climate we’re still in and some of the trends we’re observing.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our newsletter and you can also set up a 30min Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Nathan Hayes.

Resources:

20/20 Money Community Information

The Psychology of Money book

When is your practice ready for an associate (and how do you prep for it) with Nathan Hayes of IDOC

Simple Numbers, Straight Talk, Big Profits with Greg Crabtree

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Welcome to this episode of 20/20 Money! My guest on today’s show is Jeremy Pemberton. Jeremy is the Chief Investment Officer at Waterway Family Funds and has an extensive career in the real estate profession. I wanted to have Jeremy on the call today to talk about the various different ways one can own real estate as part of their portfolio and the different types of vehicles that exist. Jeremy and I talk about how real estate partnerships are structured in regards to the general partner (GP) and limited partner (LP), how fees and promotes work, and comparing private real estate investments to other real estate opportunities like REIT’s and non-traded REITS, and how investors can think about the way that owning real estate might make the most sense for them in their portfolio.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our newsletter and you can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Jeremy Pemberton.

Resources:

20/20 Money Community Information

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Welcome to this episode of 20/20 Money! My guest on today’s show is Rob Bertman. Rob is a senior consultant for Student Loan Planner who specializes in making customized, easy-to-implement student loan plans for people with 6-figure student debt and up. He has been a financial professional for nearly 20 years and holds both the CFA and CFP® designations.  Rob is also the founder of Family Budget Expert where he helps parents who feel behind financially finally find the extra money to build savings and pay off debt without a restrictive budget and even if they don't see eye-to-eye with their spouse.

In this conversation, Rob shares an update on the current state of affairs in the student loan area given all the changes that have occurred legislatively and politically. He also talks in detail about the new IDR (Income Driven Repayment) waiver, what the change in servicers have meant to borrowers, how to begin understanding what you actually owe, how optometrists should think about a student loan repayment plan in a rising interest rate environment, and refinancing options for ODs that are going to be refinancing their loans.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our newsletter and you can also set up a 20-30min Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Rob Bertman.

Resources:

20/20 Money Community Information

Studentloanplanner.com Optometry Posts

NSLDS link

Refi Page at Student Loan Planner

Refi Page at ODs on Finance

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For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!