The Optometry Money Podcast

Questions? Thoughts? Send a Text to The Optometry Money Podcast!In this special Friday episode, Evon returns to break down the recently passed proposed House bill - the “Big Beautiful Bill Act” - and what it could mean for optometrists. While it's a long way from becoming actual law, it's helpful to know what exactly is one the table and what changes to expect related to tax planning and student loans. This episode explores key tax extensions, how they impact private practice owners, and the major proposed overhaul to student loan repayment plans that could significantly affect current and future borrowers.You'll hear what's in the bill, what's likely to change, and what it all could mean for your tax planning and student loan strategy. From extended tax brackets and deductions to a major overhaul of income-driven repayment plans, Evon walks you through the key points in plain language.He also shares what he's watching closely as this bill moves to the Senate, and why some of the proposed student loan changes may be concerning for current borrowers.This is a must-listen if you want to stay ahead of what could impact your personal and business finances in the near future.

Questions? Thoughts? Send a Text to The Optometry Money Podcast!In this rewind of a popular episode, Andrew Berkin, PhD - head of research at Bridgeway Capital Mangement and author of The Incredible Shrinking Alpha - joins the podcast to discuss why active investment management fails, and why you're unlikely to get the outperformance you're looking for. Evon and Andrew dive into:Research behind why active management fails - both for individual investors and professional managersWhat an "efficient market" means, and why stock markets are efficientWhat is passive investing? Why passive investing goes beyond index fundsWhat investor SHOULD focus on, if not trying to actively pick investments.And so much more!Andrew brings so much wisdom and expertise to the conversation. Hopefully this helps optometrists better understand their own investment approach and why it may or may not make sense.And hopefully it encourages you to take an evidence-based, research-based approach to investing, just like you might take an evidence-based approach to optometry.Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at podcast@optometrywealth.com.Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow and debt, build their net worth, and plan purposefully around their money and their practices. Resources mentioned on this episode:Andrew Berkin, PhD - Bridgeway Capital ManagementPerspectives - Bridgeway Capital ManagementThe Incredible Shrinking Alpha bookYour Complete Guide to Factor-Based Investing bookSPIVA Active vs. Passive ScorecardSPIVA US Persistency ScorecardThe Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

Questions? Thoughts? Send a Text to The Optometry Money Podcast!In this episode of the Optometry Money Podcast, Evon Mendrin talks with Dr. Neda Gioia, the owner of Integrative Vision. Dr. Gioia shares her journey into optometry, what led her to cold-start her own practice, and how a personal health crisis inspired her to adopt an integrative healthcare approach within optometry. She discusses how she blends traditional eye care with holistic health practices, addressing root causes of dysfunction rather than just treating symptoms.Dr. Gioia also dives into her transition from insurance-based to a concierge model of care, the challenges of integrating holistic healthcare into an optometry practice, and how she navigates patient education and staff training to make her practice unique and impactful.Key Takeaways:Integrative Healthcare in Optometry: Dr. Gioia explains how addressing root causes rather than just symptoms benefits patients holistically.Transition to a Concierge Model: She shares insights into moving away from insurance and creating a more personalized, patient-centered approach.Education and Patient Engagement: Learn how Dr. Gioia educates her staff and patients about the benefits of holistic health practices.Practice Management Tips: Practical advice on starting small, trial and error, and gradually building a holistic model within an optometry practice.Overcoming Challenges: Discover the biggest obstacles Dr. Gioia faced, from patient communication to system integration.Links and Resources Mentioned:Integrative Vision WebsiteDr. Neda Gioia's WebsiteAmerican Academy of Anti-Aging MedicineOcular Wellness and Nutrition SocietyAmerican Nutrition AssociationInstitute of Functional MedicineConnect with Us:Visit our WebsiteSend your questions to podcast@optometrywealth.comSubscribe & ShareIf you enjoyed this episode, please subscribe and leave a review. Share it with your colleagues!Thank you for listening! Stay tuned for more episodes of the Optometry Money Podcast.The Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

Questions? Thoughts? Send a Text to The Optometry Money Podcast!How can optometrists improve their portfolios beyond basic index funds, without risky trading? Evon Mendrin provides an OD's guide to Factor-Based Investing.Evon discusses:What factors are and their role in investment returns.Five criteria to identify reliable investment factors.Key factors: Market, Small, Value, Profitability, Investment, and Momentum.Why factors exist, explained through risk and behavioral finance.Common misconceptions around factor investing.Practical tips for implementing factors in your portfolio, including tilting and core-and-satellite approaches.Who should and shouldn't consider factor investing based on goals and risk tolerance.This episode highlights a disciplined, long-term investment strategy. While it's certainly not guaranteed, it can be an evidence, research-backed approach to improving your portfolio without falling into the trap of active investment trading. Resources Mentioned:Ep 94: Why Active Investment Management Fails with Andrew Berkin, PhD"Your Complete Guide to Factor-Based Investing" by Andrew Berkin and Larry SwedroeMovie: DFA's Tune Out The NoiseQuestions?Email Evon at podcast@optometrywealth.com.Stay Connected:Click here to Subscribe to the Eyes On The Money Newsletter for weekly financial insights tailored specifically to optometrists.Have Questions? CLICK HERE to schedule a short introductory callIf you enjoyed this episode, please leave a review and share it!Thanks for listening!The Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

Questions? Thoughts? Send a Text to The Optometry Money Podcast!How should optometrists approach investing their hard-earned money? With thousands of mutual funds and countless investment strategies, deciding can feel overwhelming. In this episode, Evon dives deep into index investing—explaining clearly why passive investing through broad market index funds consistently outperforms active management.He explores the fascinating history of index funds, the robust academic research behind them, and exactly why an evidence-based, passive approach makes sense for optometrists. Evon also breaks down common misconceptions around "settling for average" and explains how choosing simplicity, lower costs, and broad diversification can significantly boost long-term investment success.You likely aim to take an evidence-based approach to optometry, and Evon's suggestion is to take the same approach to finance and investing.Highlights of the Episode:What Exactly Are Index Funds? Evon defines indexes and index funds clearly, showing how they provide easy access to broad markets at low cost.The Fascinating History Behind Index Funds Learn how groundbreaking academic research in the 1960s and 70s led to the creation of index funds, and why the initial skepticism turned into widespread adoption.Evidence of Index Funds Outperforming Active Management Evon shares compelling data, such as the SPIVA Report findings, showing that over 80-90% of active managers fail to beat their benchmark index over long periods.Why Active Investing Often Falls Short Explaining why consistently outperforming the market through active investing is incredibly challenging.Fees and Taxes Matter Understand how high fees and tax inefficiencies can significantly erode your returns, making index funds even more attractive.Diversification is Your Friend Evon details shocking statistics about individual stock performance and shows how index funds naturally diversify your portfolio, increasing your odds of owning top-performing stocks.Simplicity is Strength Discover why investing doesn't need to be complex, and how simplicity through index investing can lead to better investment behavior and results.Resources Mentioned:Ep 94: Why Active Investment Management Fails with Andrew Berkin, PhDSPIVA Report - Year End 2024S&P's US Persistency Scorecard - Year End 2023Morningstar's Active/Passive BarometerHendrick Bessembinder (2018): Do Stocks Outperform Treasury Bills?Movie: DFA's Tune Out The NoiseBook: A Random Walk Down Wall StreetStay Connected:Click here to Subscribe to the Eyes On The Money Newsletter for weekly financial insights tailored specifically to optometrists.Have Questions? CLICK HERE to schedule a short introductory callThe Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

Questions? Thoughts? Send a Text to The Optometry Money Podcast!Are you pulling the right levers in your tax planning?In this episode, Evon walks through key strategic levers you can (and should) be using to improve your tax outcomes as an optometrist—especially if you're a private practice owner. aWhile most conversations focus on deductions, this episode takes a step back to look at the full tax picture and the levers that truly move the needle in your personal and practice finances.You'll learn:How the flow of a tax return works and why it matters for planningThe types of income that trigger different tax treatmentWhy Adjusted Gross Income (AGI) is one of the most important numbers to watchWhat to know about the Qualified Business Income (QBI) deduction—and how to avoid phasing outA strategic case study showing how one planning move unlocked multiple tax benefitsHow to think about tax payments, safe harbor rules, and avoiding surprises at tax time

Questions? Thoughts? Send a Text to The Optometry Money Podcast!In this episode of The Optometry Money Podcast, host Evon Mendrin welcomes back Erich Mattei of Akrinos for a follow-up conversation focused on creating a pathway for associate doctors to become partners in your optometry practice.Whether you're an owner thinking about bringing on a partner or an associate doctor aiming to own part of a practice, this episode unpacks the key considerations you need to know.In this episode, you'll learn:The motivations for bringing on a partner (succession planning, growth, and shared leadership)Why starting the conversation early is critical for practice ownersWhat owners should look for in a future partner beyond clinical skillsHow modernizing business operations can make ownership more attractiveThe essentials of structuring a partnership: timelines, financing options, and compensationLegal documents you must have when structuring partnerships and exitsFinal tips for owners and associates to create win-win opportunitiesResources Mentioned:Ep 124: Scaling and Freedom – When, Why, and How to Add an Associate Optometrist with Erich MatteiWomen in Optometry: Guiding the Future: Doctor's Transition Plan Begins to Take ShapeLearn more about Akrinos: Akrinos WebsiteEyes on the Money Weekly Newsletter - Get 2025's Most Important NumbersThe Partnership Charter by David GageThe Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

Questions? Thoughts? Send a Text to The Optometry Money Podcast!In this episode, Evon Mendrin, CFP® dives into the latest twists in the federal student loan landscape—and what they mean for optometrists using income-driven repayment (IDR) plans. There's big news on SAVE plan court rulings, loan consolidations, and IDR recertifications. But more than that, Evon explores the deeper question: What are the tradeoffs you accept when choosing an IDR path toward forgiveness?Whether you're a recent graduate figuring out your repayment plan or a practice owner managing loans alongside business goals, this episode breaks down the current student loan climate and the ongoing volatility—and why you should base your decision on math and personal tolerance for policy uncertainty.

Questions? Thoughts? Send a Text to The Optometry Money Podcast!Welcome back to The Optometry Money Podcast! In this episode, host Evon Mendrin, CFP®, dives into the topic of stock market declines—a reality for every long-term investor. With headlines buzzing about economic concerns, tariffs, and policy changes, market volatility can feel unsettling. But how common are market declines really? And what should optometrists do when they happen?What You'll Learn in This Episode:✅ How often stock market declines occur—historical data on 5%, 10%, 15%, and 20% drops ✅ What happens after market declines—average returns after 1, 3, and 5 years ✅ The importance of diversification and why international stocks matter ✅ Why trying to time the market is dangerous and can hurt long-term returns ✅ Key actions optometrists can take during a market downturn ✅ How rebalancing, tax-loss harvesting, and Roth conversions can be smart financial moves ✅ Why staying the course is the best strategy for long-term investorsMarket declines are normal and expected, but they don't have to derail your investment plan. Evon shares valuable insights to help optometrists make informed decisions, stay disciplined, and continue building their financial future—even during uncertain times.Resources & Links:

Questions? Thoughts? Send a Text to The Optometry Money Podcast!The student loan landscape is shifting again! In this episode, Evon breaks down the latest updates on the SAVE Plan, the recent court rulings, and what these changes mean for optometrists navigating their student loan repayment.With major legal challenges in play, borrowers on SAVE are currently in interest-free forbearance, but the future of the program remains uncertain. Evon unpacks the key takeaways from the recent 8th Circuit Court of Appeals decision, discusses potential next steps, and shares what optometrists should consider when making student loan repayment decisions.What You'll Learn:✅ Background on the SAVE Plan & Legal Challenges – Why the courts put SAVE on hold and what's next✅ What This Means for Optometrists – How the latest rulings impact those on SAVE, PAYE, and IBR plans✅ Should You Switch Plans? – Factors to consider before making a move✅ Tax Strategies for Student Loan Borrowers – Filing tips to optimize student loan repayment✅ Preparing for Uncertainty – Practical steps to protect your financial futureKey Takeaways:

Questions? Thoughts? Send a Text to The Optometry Money Podcast!In this episode of The Optometry Money Podcast, Evon Mendrin, CFP®, sits down with Dr. Jennifer Stewart and Dr. Aaron Neufeld to dive into one of the biggest career decisions optometrists face: Should you cold start a practice or buy an existing one?Dr. Stewart and Dr. Neufeld bring their expertise as practice owners and consultants to break down the most common misconceptions around both options, the biggest mistakes new owners make, and how to make the right decision for your career and financial future.They share insights from their work with ODs on Finance's Cold Start and Practice Purchase Accelerator programs, offering real-world advice on choosing a location, handling financing, managing staff transitions, and much more.If you're considering starting or purchasing an optometry practice, this episode is packed with actionable takeaways to help you confidently navigate the journey to ownership.Key Topics Discussed:The biggest misconceptions about cold-starting vs. buying a practiceHow to determine if practice ownership is right for youChoosing the right location for a cold start practiceFinancing and financial planning considerations for both pathsVision plans: Should a cold start accept them?Common staffing and patient retention challenges after buying a practiceHow to manage change effectively in an acquired practiceWhy you don't have to go at it alone—and how to find expert guidanceResources & Links:Connect with Dr. Jennifer Stewart on LinkedInConnect with Dr. Aaron Neufeld on LinkedInLearn more about the Cold Start & Practice Purchase Accelerator Programs at ODs on Finance.Recommended Book: Traction: Get a Grip on Your Business by Gino WickmanHave a question or topic request? Email Evon at podcast@optometrywealth.comVisit the Optometry Wealth Advisors Education Hub for more resources, episodes, and articles.Leave us a review on Apple Podcasts or Spotify!Want to Work with Evon?Curious about how financial planning can help you make smarter decisions for your practice and personal finances? CLICK HERE to schedule a free, no-pressure consultation with Evon Mendrin, CFP®.The Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

Questions? Thoughts? Send a Text to The Optometry Money Podcast!In this episode of The Optometry Money Podcast, Evon Mendrin sits down with Dr. Tony Turin and his wife, Kim Turin, to discuss how they intentionally built and scaled their optometry practice from a cold start to three thriving locations. As a husband-and-wife power team, they share the lessons they've learned along the way—balancing business and family, maintaining culture across multiple locations, and making strategic financial decisions that fueled their growth.Tony and Kim talk about the challenges and rewards of practice ownership, how they divide roles to complement each other's strengths, and what key financial and practice metrics they track to ensure their locations remain financially strong. Whether you're an OD considering practice ownership or already managing a growing business, this episode is packed with valuable insights.Key Topics Discussed:✅ The journey from a cold start to multiple locations✅ How the Turins balance business, family, and personal time✅ Strategic financial decisions that made their growth possible✅ The importance of maintaining culture across multiple locations✅ How they track key performance metrics to ensure long-term success✅ Their biggest lessons learned from growing their practiceResources & Links:

Questions? Thoughts? Send a Text to The Optometry Money Podcast!In this episode of The Optometry Money Podcast, host Evon Mendrin, CFP® sits down with Dr. Nick Lillie to discuss his journey of expanding his practice, hiring an associate OD, and restructuring his business to align with his lifestyle and personal values.Dr. Lillie shares his insights on practice expansion, the importance of focusing on core services, and how financial and operational planning has helped him build a thriving practice that serves both his patients and his family. He also dives into how he approaches strategic planning for the new year, the role of key performance indicators (KPIs) in practice growth, and the mindset shifts that have fueled his success.What You'll Learn:The process behind Dr. Lillie's practice expansion and move to a new location.How he approached hiring and mentoring his first associate optometrist.The importance of focusing on core services like dry eye, ocular health, and optical.The impact of financial planning and profitability on sustainable business growth.How to structure your practice to support your ideal lifestyle.The power of tracking KPIs and using data to guide business decisions.Why mentorship plays a key role in onboarding a new associate.How to develop a vision for your practice and align it with your personal values.Resources & Links:Connect with Dr. Nick Lillie: Email: drlillie@theultimateod.comListen to Optometry: The Ultimate OD Podcast: WebsiteSchedule a free consultation with Evon: Click hereSign up for the Eyes On The Money Newsletter: Click hereFollow Us:Facebook: Optometry Wealth AdvisorsLinkedIn: Evon Mendrin, CFP®Thank you for listening! If you enjoyed this episode, please leave a review and share it with a fellow optometrist!The Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

Questions? Thoughts? Send a Text to The Optometry Money Podcast!In this episode, Evon welcomes Dr. Chad Fleming back to The Optometry Money Podcast. Dr. Fleming shares his experiences with strategic planning and explains how setting aside time to work on the business through a strategic planning week has helped him scale his practice operations. They discuss how private practice owners can improve leadership, reduce chaos, and increase profitability through intentional planning.Evon and Dr. Fleming dive into the nuts and bolts of what a strategic planning week entails, how to execute it, and why it's essential to long-term business success.In This Episode:What's the difference between growth and scale for optometry practices?The concept of working on vs. in your business and why stepping away is crucial.What happens to a practice and the owner when there's no intentional planning time.How Dr. Fleming's annual strategic week helped him plan, lead, and reduce turnover.Practical advice on creating a productive planning getaway—from choosing a location to preparing resources.Measuring and implementing your strategic ideas when you return to the practice.Episode Highlights:[00:04:40] Scaling vs. growth: defining both for practice owners[00:06:10] Working on your business versus working in it: practical examples[00:18:22] Dr. Fleming's annual strategic planning getaway explained[00:23:05] How to prepare and gather your thoughts for a productive planning session[00:35:00] Tracking key performance indicators (KPIs) to measure success[00:40:06] Exciting opportunities in the future of private practice optometryResources:Contact Dr. Chad Fleming: Email him at chad@pipgpo.comLinkedIn: Connect with Dr. Fleming on LinkedInPast Podcast Episodes: Check out more episodes with Dr. Fleming in our podcast archive:Ep. 118: Adding Private Label to Improve Margins Without Compromising Quality with Dr. Chad FlemingEp. 17: Assessing the Health of Your Optometry Practice with Dr. Chad FlemingEp. 6: Navigating Associate Contracts, Practice Ownership, and Partnerships with Dr. Chad FlemingConnect With Us:For more podcast episodes, blog articles, and optometry-specific financial resources, visit www.optometrywealth.com.To learn more about working with Evon and the team at Optometry Wealth Advisors, CLICK HERE to schedule a free consultation.The Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

Questions? Thoughts? Send a Text to The Optometry Money Podcast!In this episode of The Optometry Money Podcast, Evon Mendrin, CFP®, hosts Erich Mattei of Akrinos to dive deep into a pivotal question for many private practice optometry owners: when, why, and how should you hire an associate optometrist?Together, Evon and Erich discuss:The key motivations behind hiring an associate doctor – from scaling your practice for growth to creating more personal freedom.The role of associates in succession planning and de-risking your practice's future.Critical financial and operational indicators that signal it may be time to hire.How to structure compensation plans that attract and retain top talent while aligning with your practice's financial health.Best practices for onboarding and mentoring your associate for success.And more!Whether you're approaching capacity constraints or seeking a better work-life balance, this episode will help you make more informed decisions about hiring and transitioning to an associate OD.Resources Mentioned in the Episode:

Questions? Thoughts? Send a Text to The Optometry Money Podcast!In this episode, your host, Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, dives into the critical importance of your Savings Rate as a foundation for financial independence. We explore how incremental improvements—or marginal gains—can lead to exceptional results.What You'll Learn in This Episode:The Story of Marginal Gains: How Sir Dave Brailsford's focus on 1% improvements led the British cycling team to Olympic gold and what that means for your financial habits.The Role of Systems in Financial Success: Why success is more about consistent habits and systems than lofty goals.Understanding the Savings Rate: What it is, why it's a leading indicator of future financial health, and how to calculate and improve it.Practical Strategies to Improve Your Savings Rate: From automating contributions to identifying areas for incremental improvement in your cash flow.The Danger of Chasing High-Risk Investments: Why a strong savings rate is more reliable than speculative ventures in achieving financial independence.Resources Mentioned:

Questions? Thoughts? Send a Text to The Optometry Money Podcast!In this episode, your host, Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, dives into the critical financial and tax updates optometrists need to know as we head into 2025. Whether you're an associate OD, a private practice owner, or planning to start your own practice, these updates are vital to helping you make informed financial decisions.What You'll Learn in This Episode:Retirement Account Contribution Limits for 2025:Updates for 401(k), SIMPLE IRA, HSA, and IRA contribution limits, and how to adjust your contributions accordingly.SECURE Act 2.0 Changes Now in Effect:Automatic enrollment requirements for newer 401(k) plans, new rules for long-term part-time employees, enhanced catch-up contributions, and more.Key Tax Updates for 2025:Changes to tax brackets, standard deductions, Qualified Business Income (QBI) phaseouts, and the Social Security wage base.Student Loan Repayment Tips:How the timing of your tax filing can impact income-driven repayment plans, especially if you're pursuing loan forgiveness.Inherited IRA RMDs:The return of required minimum distributions for inherited IRAs and what this means for beneficiaries in 2025.Things to Watch in 2025:Updates on Corporate Transparency Act reporting, SAVE plan court cases, and the potential sunset of the Tax Cuts and Jobs Act.Resources Mentioned:

Questions? Thoughts? Send a Text to The Optometry Money Podcast!As the year draws to a close, it's the perfect time to review your finances and ensure you're ending the year on a strong note. In this episode of The Optometry Money Podcast, Evon Mendrin, CFP®, walks through a comprehensive year-end financial checklist tailored specifically for optometrists. Whether you're an associate OD or a private practice owner, you'll find actionable tips to optimize your finances, make tax-smart decisions, and set yourself up for a successful new year.What You'll Learn:Retirement Planning: How to evaluate and maximize your 401(k), SIMPLE IRA, and profit-sharing contributions before year-end.Tax-Saving Opportunities: Key actions to take before December 31, including charitable donations, state tax payments, and practice-related investments.Investment Strategy: How to identify tax-loss harvesting and capital gains opportunities in your portfolio.Estate & Insurance Review: Why it's essential to update your beneficiaries, estate plan, and insurance policies.Cash Flow Check: Tips to review your spending, savings rate, and liquidity for emergencies and upcoming goals.Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow and debt, build their net worth, and plan purposefully around their money and their practices. Resources mentioned on this episode:The Optometry Money Podcast Ep 114: Tax Targets to Aim For Mid-YearThe Optometry Money Podcast Ep 51: An Optometrist's Guide to the Qualified Business Income DeductionThe Optometry Money Podcast Ep 47: An Optometrist's Guide to How Taxes WorkThe Optometry Money Podcast Ep 37: Tax Planning For Charitable GivingThe Optometry Money Podcast Ep 34: Five Levers to Control Capital Gains on Your Tax ReturnIRS Withholdings EstimatorThe Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

Questions? Thoughts? Send a Text to The Optometry Money Podcast!Evon provides optometrists a deep dive into 529 plans and other methods of saving and paying for your kids' college costs.He dives into the rules of how 529 plans work, the federal and state tax benefits of using 529 accounts, how to use the funds in the account, creative planning opportunities for 529 plans, the use of taxable investment accounts in preparing for your kids' college. Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at podcast@optometrywealth.com.Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow and debt, build their net worth, and plan purposefully around their money and their practices. Resources mentioned on this episode:IRS 529 Plans: Questions and AnswersEducation Data - College Tuition Inflation RateEducation Data - Average Costs of Tuition & CollegeSaving For College - Federal School Code Lookup ToolThe Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

Questions? Thoughts? Send a Text to The Optometry Money Podcast!In this rewind of a popular episode, Evon dives into mid-year tax planning targets optometrists and practice owners should keep an eye on as we work through the rest of the year. He talks through specific points of planning he thinks about as he works with clients and their tax professionals, including:Trajectory and sources of incomeAre we on track for tax payments and withholdings?Adjusted gross income (AGI) and phaseouts for deductions and creditsOpportunities around itemized deductions, especially donations to charity Taxable income and tax bracketsQualified Business Income deduction and potential phase outsAnd more! Hopefully this helps you have productive conversations with your own tax professional, financial advisor, and other professionals in your corner! Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at podcast@optometrywealth.com.Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow and debt, build their net worth, and plan purposefully around their money and their practices. Resources mentioned on this episode:The Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

Questions? Thoughts? Send a Text to The Optometry Money Podcast!In this episode of The Optometry Money Podcast, host Evon Mendrin welcomes back Dr. Chad Fleming to dive into a strategy for private practice optometrists: private label products.Dr. Fleming shares his insights into how practice owners can introduce private label lenses, frames, and other products to their offerings. They discuss the financial and operational benefits, including improved margins, reduced costs, and increased flexibility, while still delivering top-quality care to patients.You'll learn:What private label products are and why they're gaining traction.How they compare to big-name brands in quality and performance.Practical steps for selecting and implementing a private label line in your practice.Common red flags and mistakes to avoid when exploring this option.Whether you're curious about adding private label products to your practice or are looking for ways to maximize profitability in your optical, this episode is packed with actionable advice and real-world examples.Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at podcast@optometrywealth.com.Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow and debt, build their net worth, and plan purposefully around their money and their practices. Resources mentioned on this episode:Email: chad@pipgpo.comChad Fleming: Partners in ProfitReview of Optometry: Can Private Label Save Private Practice? (2002)Schedule an Introductory Call with Optometry Wealth AdvisorsThe Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

Questions? Thoughts? Send a Text to The Optometry Money Podcast!What do presidential elections mean for your investments? What actions should you take during an election year?In this rewind of a popular episode, Evon provides context for this common question by diving into the historical behavior of US stocks related to US presidential elections. He dives both into the short-term results - looking at the months and years around the elections, as well as a longer-term  perspective. Ultimately, stocks - publicly traded businesses - have rewarded long-term, patient investors over long-term periods of time, regardless of the politician in office.Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at podcast@optometrywealth.com.Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow and debt, build their net worth, and plan purposefully around their money and their practices. Resources mentioned on this episode:Slides: Market Returns During ElectionsDFA's Presidential Elections: What Do They Mean for Markets?DFA: How Much Impact Does the President Have on Stocks? (Interactive)DFA Webcast Highlights: What History Tells Us About Elections and the MarketA Wealth of Common Sense: Don't Mix Your Politics With Your PortfolioThe Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

Questions? Thoughts? Send a Text to The Optometry Money Podcast!Jackson Pace, CPA, and Kevin Dang, CPA of Refractional CFO join Evon on the podcast again to dive into a common question - can you (or should you) buy a vehicle under your optometry practice for the tax deduction?They dive into:What's required to deduct the cost of a vehicle in the practiceBasics of how depreciation worksWhat happens when you sell or transfer the car out of the practiceBusiness use vs. personal use of the vehicleNon-tax considerations when you own a car under your practiceAnd more! Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at podcast@optometrywealth.com.Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow and debt, build their net worth, and plan purposefully around their money and their practices. Resources mentioned on this episode:Refractional CFO WebsiteThe Optometry Money Podcast Ep 96: Deep Dive Into Financial Due Diligence When Buying an Optometry Practice with Jackson Pace and Kevin Dang, CPAsThe Optometry Money Podcast Ep 71: Viewing the Health of Your Practice Through the Eyes of a CFO with Jackson Pace, CPASchedule an Intro Call with Optometry Wealth AdvisorsThe Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

Questions? Thoughts? Send a Text to The Optometry Money Podcast!Cash flow is the lifeblood of your optometry practice. In this episode, Evon dives into important differences between the profit you see on the Profit & Loss and the actual net cash flow of your business, and also explores the Statement of Cash Flows and stories optometrists can pull from it. Lastly, he talks about a simple framework to use when trying to decide what to do with extra cash flow in your practice.Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at podcast@optometrywealth.com.Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow and debt, build their net worth, and plan purposefully around their money and their practices. Resources mentioned on this episode:Managing By the Numbers - Chuck KremerSimple Numbers, Straight Talk, Big Profits - Greg CrabtreeThe Optometry Money Podcast Ep 29: Getting A Grip On Your Practice Bookkeeping with Wade WeiszThe Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

Questions? Thoughts? Send a Text to The Optometry Money Podcast!Evon dives into mid-year tax planning targets optometrists and practice owners should keep an eye on as we work through the rest of the year. He talks through specific points of planning he thinks about as he works with clients and their tax professionals, including:Trajectory and sources of incomeAre we on track for tax payments and withholdings?Adjusted gross income (AGI) and phaseouts for deductions and creditsOpportunities around itemized deductions, especially donations to charity Taxable income and tax bracketsQualified Business Income deduction and potential phase outsAnd more! Hopefully this helps you have productive conversations with your own tax professional, financial advisor, and other professionals in your corner! Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at podcast@optometrywealth.com.Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow and debt, build their net worth, and plan purposefully around their money and their practices. Resources mentioned on this episode:The Optometry Money Podcast Ep 47: An Optometrist's Guide to How Taxes WorkThe Optometry Money Podcast Ep. 49: An Optometrist's Guide to Business EntitiesThe Optometry Money Podcast Ep 51: An Optometrist's Guide to the Qualified Business Income DeductionIRS Tax Withholding EstimatorThe Optometry Money Podcast Ep 53: An Optometrist's Guide to Estimated Tax PaymentsThe Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

Questions? Thoughts? Send a Text to The Optometry Money Podcast!In this episode, we rewind back to a popular 2023 episode. How do income taxes work? How do tax rates work? How are your taxes calculated?As tax filing deadlines approach, Evon dives into a basic guide for optometrists to how US federal income taxes work.He dives into how marginal tax rates work, how taxes are calculated, withholdings and estimated tax payments, filing deadlines, and different tax planning concepts to keep in mind when making financial decisions.Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at evon@optometrywealth.com.Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow and debt, build their net worth, and plan purposefully around their money and their practices. Resources mentioned on this episode:The Optometry Money Podcast Ep. 34: 5 Levers to Control Capital Gains on Your Tax ReturnThe US Federal Income Tax "Formula"IRS Withholding EstimatorThe Optometry Money Podcast Ep. 37: Tax Planning for Charitable GivingEyes on the Money Newsletter #33: Tax Levers Before Tax TimeThe Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

Questions? Thoughts? Send a Text to The Optometry Money Podcast!What should we do during stock market declines? Even though the ups and downs are a normal (and expected) part of investing, what beneficial actions can you take?Evon dives into rebalancing, tax-loss harvesting, and other actions optometrists should consider during market declines. Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at podcast@optometrywealth.com.Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow and debt, build their net worth, and plan purposefully around their money and their practices. Resources mentioned on this episode:A Wealth of Common Sense Blog: This is NormalThe Optometry Money Podcast Ep 34: Five Levers to Control Capital Gains on Your Tax ReturnSchwab: Watch Out for Wash SalesThe Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

Questions? Thoughts? Send a Text to The Optometry Money Podcast!Matt Ruttenberg of Life Inc., Retirement Services joins the podcast for a mid-year review of 2024 updates for 401(k) plans and late-year deadlines optometry practice owners need to know. They dive into soon-to-be required auto-enrollment, deadlines to open a safe harbor 401(k) plan for 2024, profit sharing deadlines, submitting 5500 for solo 401(k) plans, and more!Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at podcast@optometrywealth.com.Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow and debt, build their net worth, and plan purposefully around their money and their practices. Resources mentioned on this episode:The Optometry Money Podcast Ep 40: The Optometrist's Guide to The SECURE Act 2.0The Optometry Money Podcast Ep 89: 2024 Financial Updates Optometrists Need to KnowThe Optometry Money Podcast Ep 63: Choosing A Retirement Plan for Your Optometry PracticeThe Optometry Money Podcast Ep 64: How to Invest Six Digits A Year Into Your Practice Retirement Plans with Matt RuttenbergLife, Inc. Learning CenterThe Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

Questions? Thoughts? Send a Text to The Optometry Money Podcast!Now that July 1st has come and gone, Evon dives into the recent student loan updates optometrists need to know. He discusses how the Pay As You Earn payment plan is no longer accessible, the consolidation deadline passing for the One Time IDR Account Adjustment, PSLF no longer administered by Mohela, and changes and court cases impacting the SAVE payment plan. Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at podcast@optometrywealth.com.Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow and debt, build their net worth, and plan purposefully around their money and their practices. Resources mentioned on this episode:Forbes - Student Loan Forgiveness Resumes for Millions as Major Program (PSLF) Completes TransitionForbes - New Guidance on Student Loan Forgiveness, Repayment, and Consolidation Issued in Wake of Court RulingsPodcast Ep. 95: Improving Student Loan Outcomes When Filing Taxes Married SeparatelyFederal Student Aid - PSLFThe Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

Questions? Thoughts? Send a Text to The Optometry Money Podcast!What do presidential elections mean for your investments? What actions should you take during an election year?Do provide context for this common question, Evon dives into the historical behavior of US stocks related to US presidential elections. He dives both into the short-term results - looking at the months and years around the elections, as well as a longer-term  perspective. Ultimately, stocks - publicly traded businesses - have rewarded long-term, patient investors over long-term periods of time, regardless of the politician in office. Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at podcast@optometrywealth.com.Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow and debt, build their net worth, and plan purposefully around their money and their practices. Resources mentioned on this episode:Slides: Market Returns During ElectionsDFA's Presidential Elections: What Do They Mean for Markets?DFA: How Much Impact Does the President Have on Stocks? (Interactive)DFA Webcast Highlights: What History Tells Us About Elections and the MarketA Wealth of Common Sense: Don't Mix Your Politics With Your PortfolioThe Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

Questions? Thoughts? Send a Text to The Optometry Money Podcast!In this episode Evon is joined by Colin Carr, founder and CEO of CARR to dive into lease and purchase decisions for your optometry practice real estate. We dive into what to look for in a location for your practice, negotiating points for a lease, how to prepare and plan for a lease renewal, when to lease vs. purchase the commercial property, and so much more!  Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at podcast@optometrywealth.com.Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow and debt, build their net worth, and plan purposefully around their money and their practices. Resources mentioned on this episode:CARR Healthcare Real EstateCARR Blog/ResourcesOptometry Wealth Advisors - Schedule a ConsultationThe Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

With a new stock market all-time high earlier this year (2024), Evon provides perspective from history to put new record highs into proper context. While it's often thought that you should avoid investing at all-time highs do to some inevitable crash, ultimately, all-time highs are more common than you think. And the performance of stocks (on average) after new record highs would surprise you. Evon ends with the importance of keeping a long-term investing perspective while planning for a long-term investment goal - financial independence.  Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at podcast@optometrywealth.com.Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow and debt, build their net worth, and plan purposefully around their money and their practices. Resources mentioned on this episode:DFA: Why A Stock Peak Isn't A CliffRBC GAM: Investing at All-Time HighsOptometry Wealth Advisors - Schedule a ConsultationThe Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

Evon is joined by Dr. Tessa Sokol, owner of Sokol Advanced EyeCare in Madison, Wisconsin. Tessa shares her experience transitioning from a long-standing, successful corporate sublease to her own independent, private optometry practice. We dive into the benefits and drawbacks of the corporate sublease (from her experience), what to look for when evaluating a sublease opportunity, why she made the shift to private practice, all the steps of the transition, what lessons she'd teach herself if she could go back, and what technology and innovation she's most excited about looking to the future. Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at podcast@optometrywealth.com.Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow and debt, build their net worth, and plan purposefully around their money and their practices. Resources mentioned on this episode:Sokol Advanced EyeCareLinkedIn - Tessa SokolFacebook - Sokol EyeCareiCareAdvisorsSchedule a Free Consultation - Optometry Wealth AdvisorsThe Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

In this replay of a popular 2023 episode, Evon revisits an important topic for optometry practice owners and independent contractors - the differences between different business entities!How do the different business entities work? How are they taxed? How are they different?In this episode, Evon provides a basic guide to the differences between:Sole ProprietorshipsPartnerships Limited Liability Companies (LLCs)S-CorporationsCorporationsIf you own an optometry practice or are an independent contractor, hopefully this episode brings some clarity around how the different types of businesses operate. Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at evon@optometrywealth.com.Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow and debt, build their net worth, and plan purposefully around their money and their practices. Resources mentioned on this episode:The Optometry Money Podcast Ep. 47: An Optometrist's Guide to How Income Taxes WorkIRS.Gov Reasonable Compensation for S Corporation OfficersIRS.Gov How to Apply for an EINThe Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

In this replay of a popular 2023 episode, Evon revisits an important tax planning topic for optometry practice owners and independent contractors - the Qualified Business Income Deduction!He dives into what the deduction is, how it's calculated, its limitations and phase outs, how it works differently in different business types, and planning considerations to keep in mind.Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at evon@optometrywealth.com.Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow and debt, build their net worth, and plan purposefully around their money and their practices. Resources mentioned on this episode:The Optometry Podcast Episode 47: An Optometrist's Guide to How Income Taxes WorkThe Optometry Podcast Episode 49: An Optometrist's Guide to Business EntitiesIRS Reasonable Compensation for S-Corporation OwnersThe Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.The Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

In today's episode, Evon dives into the tax considerations when selling your primary residence.Homes tends to make up a considerable portion of optometrists' net worth, and fortunately the IRS provides an exclusion for capital gains from selling your home. Evon dives into the Section 121 home sale exclusion, the two tests you need to meet to qualify, certain exceptions to keep in mind, and planning considerations when selling a home that you've used as a rental property.Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at podcast@optometrywealth.com.Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow and debt, build their net worth, and plan purposefully around their money and their practices. Resources mentioned on this episode:IRS Publication 523 - Selling Your HomeSchedule an Intro Call with Optometry Wealth Advisors!The Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

Evon is joined by Thomas Castelli, CPA, partner at Hall CPAs, as well as CEO of Tax Smart Investors. Many optometrists own rental real estate properties, and it's common for practice owners to own the commercial real estate the practice operates in. Thomas brings a ton of specialized knowledge in real estate taxation to the podcast, and we dive into how rental income is taxed and how optometrists can unlock "passive" rental real estate losses to offset your other "active" income like wages and business profit.  Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at podcast@optometrywealth.com.Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow and debt, build their net worth, and plan purposefully around their money and their practices. Resources mentioned on this episode:Thomas Castelli websiteTax Smart REI PodcastHall CPAsTax Smart InvestorsThe Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

On today's episode, Evon is joined once again by Dr. Bethany Fishbein to talk all about how to push through conflict and confrontation to improve your optometry practice and your career.Ultimately as business owners and professionals, or just when working in a team, there's going to be a time where conflict comes up or uncomfortable conversations need to be had - with team members, managers, patients, or vendors. And avoiding that conflict can lead to issues with patient care, profitability, the culture of your practice, your stress as an owners, Bethany and Evon dive into all the different places this shows up in your business, how avoiding important conversations impacts patient care, your practice, and your career, and how get better at tackling conflict head on. Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at podcast@optometrywealth.com.Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow and debt, build their net worth, and plan purposefully around their money and their practices. Resources mentioned on this episode:Leaders of Vision WebsiteLinkedIn - Bethany Fishbein, ODHBR: An Exercise to Help Your Team Feel More Comfortable with ConflictThe Lean Startup - Eric RiesSchedule an Intro Call - Optometry Wealth AdvisorsThe Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

In the show's 100th episode, Evon talks about what optometrists should expect and experience from working with a financial advisory firm. There has been historically poor business models in financial services that fall short of providing advice optometrists need, in their best interest. There also appears to not be a great public awareness of what good financial advisors actually do for clientsEvon aims to help optometrists understand what exactly financial planning is, and what they should be receiving from working with a financial advisor in terms of services received and client experience, by walking the listener through his firm's own client experience.  As you search for your own trusted advisor, hopefully this episode gives you a better idea of what to expect, and when a potential service doesn't quite meet your needs. Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at podcast@optometrywealth.com.Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow and debt, build their net worth, and plan purposefully around their money and their practices. Resources mentioned on this episode:The Optometry Money Podcast Ep 44: An Optometrist's Guide to Financial Advisors (5 Questions To Ask)Schedule an Intro CallThe Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

Evon is joined by Michael Pote of The Growth Cooperative to dive into creative ways to structure the sale of a practice from one optometrist to another.  They talk a little bit about the structure of private equity sales and OD-to-OD sales, and the pros and cons to both. They then dive into creative ideas to make that transition work for both parties, including structuring the purchase over a period of time rather than all at once. We also talk about what makes a better prepared buyer and a better prepared seller. With the ongoing concern of keeping more independent, private optometry practices in the hands of optometrists, Michael brings great ideas for helping the next generation of owners buy into even the largest of practices. Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at podcast@optometrywealth.com.Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow and debt, build their net worth, and plan purposefully around their money and their practices. Resources mentioned on this episode:The Growth CooperativeLinkedIn - Michael PoteThe Optometry Money Podcast Ep 96: Deep Dive Into Financial Due Diligence When Buying an Optometry Practice with Jackson Pace and Kevin Dang, CPAsThe Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

Evon dives into the recently announced update for federal student loans! The Department of Education extended the pause for income recertification for borrowers on income-driven repayment plans to late September, 2024 at the earliest. Optometrists may have even more time on lower IDR payments! Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at podcast@optometrywealth.com.Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow and debt, build their net worth, and plan purposefully around their money and their practices. Resources mentioned on this episode:Student Aid: Income Driven Repayment (IDR) Recertification Pause ExtendedThe Optometry Money Podcast Ep 74: Student Loan Planning for Optometrists in 2023 and Beyond!Schedule an Introduction Call with Optometry Wealth AdvisorsThe Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

This episode plays Part 2 of  Evon's recent guest appearance on the Four Eyes Optometry Podcast. Evon joins Lainey Bokhaut, CPA in Canada, as a guest to talk about foundational financial decisions optometrists need to make - especially as they transition from school to practice.We dive into the basics of different business entities for practices and independent contractors, the importance of disability and other types of insurance, what professionals should be involved in your life and when you should start working with them, and so much more!Huge thanks to Dr. Amrit Bilkhu and Dr. Deepon Kar for havings us on. Their podcast is absolutely worth a subscribe, and check out Part 1! Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at podcast@optometrywealth.com.Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow and debt, build their net worth, and plan purposefully around their money and their practices. Resources mentioned on this episode:Four Eyes Optometry PodcastFour Eyes Podcast Ep. 74: Financial Planning with Evon Mendrin and Lainey Bokhaut Part OneYoungOD ConnectThe Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.The Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

Evon is joined by Jackson Pace, CPA and Kevin Dang, CPA of Refractional CFO to take a deep dive into financial due diligence when buying a practice. They talk about:The goal of financial due diligence and the list of what to reviewThe documentation and information needed and the process of how to review themWhat factors they've seen that indicate the health of a practiceWhat sellers should focus on to improve and preserve the value of their practiceAnd more! Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at podcast@optometrywealth.com.Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow and debt, build their net worth, and plan purposefully around their money and their practices. Resources mentioned on this episode:Refractional CFOThe Optometry Money Podcast Ep 71: Viewing the Health of Your Practice Through the Eyes of a CFO with Jackson Pace, CPAThe Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

Using income-driven repayment (IDR) plans toward student loan forgiveness can be a favorable way for optometrists to manage student loan debt. In this episode Evon talks about how strategically changing the way you file your taxes when married can improve the long-term math toward student loan forgiveness. He dives into how filing taxes married filing separately can exclude your spouse's income from your student loan calculation on an IDR plan and impact the family size for the calculation - as well as the tax consequences of changing your tax filing status.  He also talks about how community property states open up even more planning opportunities for student loans when filing separately. Lastly, he talks about important considerations to keep in mind around the tax filing deadline and your recertification date. Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at podcast@optometrywealth.com.Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow and debt, build their net worth, and plan purposefully around their money and their practices. Resources mentioned on this episode:Federal Student Aid - Income-Driven Repayment PlansFederal Student Aid IDR Plan Request Form PDFOptometry Money Podcast Ep. 89: 2024 Financial Updates Optometrists Need to KnowThe Optometry Money Podcast Ep 74: Student Loan Planning for Optometrists in 2023 and Beyond!The Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

Andrew Berkin, PhD - head of research at Bridgeway Capital Mangement and author of The Incredible Shrinking Alpha - joins the podcast to discuss why active investment management fails, and why you're unlikely to get the outperformance you're looking for. Evon and Andrew dive into:Research behind why active management fails - both for individual investors and professional managersWhat an "efficient market" means, and why stock markets are efficientWhat is passive investing? Why passive investing goes beyond index fundsWhat investor SHOULD focus on, if not trying to actively pick investments.And so much more!Andrew brings so much wisdom and expertise to the conversation. Hopefully this helps optometrists better understand their own investment approach and why it may or may not make sense. And hopefully it encourages you to take an evidence-based, research-based approach to investing, just like you might take an evidence-based approach to optometry. Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at podcast@optometrywealth.com.Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow and debt, build their net worth, and plan purposefully around their money and their practices. Resources mentioned on this episode:Andrew Berkin, PhD - Bridgeway Capital ManagementPerspectives - Bridgeway Capital ManagementThe Incredible Shrinking Alpha bookYour Complete Guide to Factor-Based Investing bookSPIVA Active vs. Passive ScorecardSPIVA US Persistency ScorecardThe Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

On today's episode Dr. Michael Neal of Lakeside Vision and founder of Build My Team joins the podcast to discuss the lessons he learned and process he built to hire better team members for optometry practices. We dive into:What's wrong with the conventional ways of hiringWhy resumes are the worst place to start the process Why experience can actually be a red flagHow to streamline the hiring process Aligning natural skills and abilities of candidates with the role you're hiring forAnd so much more!This was a fantastic conversation that should help you think differently about a common pain point in private optometry practices. Ultimately, a more streamlined hiring process and a better team around you can help provide a better, more enjoyable day to day practice ownership experience.Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at podcast@optometrywealth.com.Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow and debt, build their net worth, and plan purposefully around their money and their practices. Resources mentioned on this episode:Build My TeamEducation HubJim Collins - Getting the Right People in the Right Seats Over TimeEOS - Right People-Right SeatsThe Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

On today's episode, Evon is joined by Ali Oromchian, attorney with Dental & Medical Counsel, to review the new federal business entity reporting requirements under the Corporate Transparency Act.They dive into which entities are required to report, what information is involved, deadlines to keep in mind, potential penalties, and more. This impacts not only optometry practice owners, but also optometrists that own rental real estate in LLCs or partnerships and independent contractors or side businesses that created legal entities. Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at podcast@optometrywealth.com.Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow and debt, build their net worth, and plan purposefully around their money and their practices. Resources mentioned on this episode:FinCEN Beneficial Ownership Reporting FAQsFinCEN BOI Small Entity Compliance GuideAli Oromchian - Dental & Medical CounselThe Optometry Money Podcast Ep 89: 2024 Financial Updates Optometrists Need to KnowThe Optometry Money Podcast Ep 81: An Optometrist's Guide to Estate Planning with Ali Oromchian, J.D., LL.M.The Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

In today's episode, Evon gives optometrists a guide on one of the most tax-efficient savings accounts out there - Health Savings Accounts! He dives into the appropriate uses and benefits of HSAs, who is eligible to contribute, the annual limits and nuances to keep in mind, how to invest in an HSA as a retirement account, and planning considerations and ideas to make the most of them. Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at podcast@optometrywealth.com.Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow and debt, build their net worth, and plan purposefully around their money and their practices. Resources mentioned on this episode:IRS Pub 969: Health Savings Accounts and Other Tax-Favored Health PlansIRS Pub 502: Medical and Dental ExpensesThe Optometry Money Podcast Ep 57: A Framework for Deciding Where to Save/Invest NextThe Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

This episode plays Evon's recent guest appearance on the Four Eyes Optometry Podcast. In Part 1 of 2, Evon joins Lainey Bokhaut, CPA in Canada, as a guest to talk about foundational financial decisions optometrists need to make - especially as they transition from school to practice. We dive into debt decisions and how to tackle student loans, we talk about differences between retirement accounts and how to decide between them, we talk tradeoffs between investing and debt payments, and so much more!Huge thanks to Dr. Amrit Bilkhu and Dr. Deepon Kar for havings us on. Their podcast is absolutely worth a subscribe, and stay tuned for Part 2! We'll dive into business and practice ownership, how to build your professional team, and more! Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at podcast@optometrywealth.com.Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow and debt, build their net worth, and plan purposefully around their money and their practices. Resources mentioned on this episode:Four Eyes Optometry PodcastYoungOD ConnectThe Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.The Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

Happy New Year! It's time to dive into the many 2024 financial updates, rule changes, and deadlines optometrists need to know about.Evon discusses:SECURE Act 2.0 rule changes in effect in 2024, including positive adjustments to SIMPLE IRAs and 401(k)s. Increases in contribution maximums for 401(k)s, SIMPLE IRAs, Health Savings Accounts, and IRAs. Two important federal student loan deadlines this year.Beneficial Owner Information reporting from the Corporate Transparency ActAnd more! Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at evon@optometrywealth.com.Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow and debt, build their net worth, and plan purposefully around their money and their practices. Resources mentioned on this episode:The Optometry Money Podcast Ep 40: The Optometrist's Guide to The SECURE Act 2.0Student Aid: The IDR Account AdjustmentIRS 2024 Retirement Account Contribution ChangesFinCEN Beneficial Ownership Reporting FAQsFinCEN BOI Small Entity Compliance GuideThe Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

For the last episode of 2023, it's time to rewind to our most popular episode of the year. Dr. Kara Ramsey-Foster, OD joins the podcast to talk about her journey freeing her optometry practice from managed vision care plans through a direct care business model.In a bit of a case study, Dr. Foster talks about what led her to transition her practice entirely away from vision plans, how a direct care or fee-for-service model works, how she made the transition successful, and how it's benefited her practice.She had such a great perspective on a big, important topic for independent optometry practices.Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at evon@optometrywealth.com.Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow and debt, build their net worth, and plan purposefully around their money and their practices. Resources mentioned on this episode:Get Your FREE Financial Health AssessmentEye Care For YouDirect Care Difference - Join The Direct Care Movement!Review of Optometric Business - How I Freed My Practice from Managed Care to Achieve a $564 Revenue-per-ExamDirect Care Difference YouTube ChannelAnagramThe Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.