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   ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— 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 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   ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— 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 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 ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— 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. Pete Kehoe, OD. Dr. Kehoe is a fellow of the Academy of Optometry, National Academies of Practice and a Diplomate of the American Board of Optometry.  He has served the profession in a variety of roles and was president of the American Optometric Association 2008-2009. He is a partner in three private practices in central Illinois and serves Vision Source as an administrator in Illinois since 2000 and a variety of roles as a senior advisor since 2014. Dr. Kehoe served as a non-executive board member of Optos, Plc and currently serves as a consultant in professional development for Transitions Optical, Heru and Optos.   During this episode, we spend the majority of our conversation talking about the importance of planning for the success and succession of your private practice…whether you’re 35, 55, 65, or even 75 and the owner of a practice. Pete shares what was successful for him in recruiting and retaining providers that eventually became partners in his practice. We talk through how he financed the buy-in, the emotional component of selling part of one’s practice, the compensation structure that has worked well for their partnership, and some of the headwinds and tailwinds he observes in optometry and what practice owners can do about them.   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!  We made the announcement back on episode 200 and are still “cooking in the kitchen;” we’ll keep you posted as we have updates around the timeline of the launch and what the model will look like, etc.     And with that introduction, I hope you enjoy my conversation with Dr. Pete Kehoe.   Resources: 20/20 Money Community Information   ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— 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 Kim Hockaday (links) from Nations Lending.   Kim has been on the show previously, is a long-time friend of mine, and has a lot of experience in the mortgage business. I wanted to have her on the show today to talk about the current state of the mortgage market as we close in on the 4th quarter of 2022 and what both buyers and sellers should be considering in this new environment we’re in (relative to 2020 and 2021).   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 help OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions to help them live their best life on purpose or 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 Community 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 Kim Hockaday.   20/20 Money Membership Information   ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— 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! This episode is the guest appearance I did on Dr. Chris Wolfe’s podcast Eyecode Media (which is part of Eyecode Education). Chris had me on the show to unpack private equity a bit more and talk about how PE is structured from an investment perspective and what the “end game” looks like for a PE fund. This is a follow up conversation to an article that I wrote for Review of Optometric Business (link) where I showed the math on how selling to a PE firm could actually cost a practice owner 6 figures. Before I get into the episode, I’d like to just acknowledge that I have no horse in this race: the purpose of this show has always been to be objective about any of the planning strategies or concepts that I discuss and lay out the pros and cons or benefits and exchanges to the decisions that one makes with their money. With private equity getting a lot of attention lately it could be perceived that I’m taking a contrarian view for the purpose of building exposure, and that’s simply not the case. For some practice owners, a private equity exit might be the best option for them. For others, not so much. My position, with a decision like this, has been to be transparent about the entirety of the process and, using history as our guide, what it could mean for the profession of optometry.   Everything that we do with our money comes at a cost—sometimes that cost is explicit and sometimes it’s implicit. But it’s our job (responsibility?) to ensure that we know as much as we can about the implications of our decision…and that’s been the focus of this show. With the subject of this episode and the conversation that Chris and I have, I wanted to just share that additional update.   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 Dr. Chris Wolfe.   Resources: Review of Optometric Business: Why Selling to PE Could COST You Six Figures Research paper: Financialization in Health Care: The Transformation of US Hospital Systems 20/20 Money Community Information   ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— 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! On today’s show we discuss the relationship between tax loss- and gain-harvesting and capital gain distributions from ETFs and mutual funds. We’ll run through a couple of examples of how you can proactively review your portfolio and potentially reduce your tax liability and not be surprised by a large 1099-DIV report during 2023’s tax season.   Resources: What is the “wash sale” rule? Fidelity’s Tax Loss Harvesting article 20/20 Money Community Information   Follow us on Instagram: https://www.instagram.com/2020moneypod/  ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— 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. Larry Golson. Larry is the founder of Envision Eyecare & Eyeware in Ashville, NC and in addition to practice ownership he has taken on another role in the optometric profession, serving as a consultant and coach to practice owners looking to implement the concepts and applications discussed in the book Traction by Gino Wickman.   Larry and I talk through his implementation journey with EOS® and what he’s learned through that journey. He shares how important the beginning stages were of the process, how he knew he was ready for change, the importance of empowering team members to provide feedback, why culture is a driving force in any business (including optometry), the cost that bad-fit team members can have on a practice, how he’s measured success with the system, and when a practice is ready for EOS.®   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 help OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions to help them live their best life on purpose. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Community 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. Larry Golson.   Resources: Radical Candor Rocket Fuel Multiplication by Substraction www.sherpaconsulting.net   Follow us on Instagram: https://www.instagram.com/2020moneypod/  ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— 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 Ali Oromchian. Ali is an attorney and founder of DM Counsel, a law firm based in the SF Bay area that serves medical professionals nationwide.   Ali joins me on the show today to revisit the ABCs and 123s of estate planning and the importance of not putting off a planning item that oftentimes see go neglected. We share some anecdotal stories of why you shouldn’t delay taking action, the differences between trust and will estate planning techniques and outcomes, and a nuance of beneficiary designations that can impact your planning. We then dive into some of the planning considerations that practice owners need to be aware of and what strategies you can consider to ensure that not only your family but also your team and patients are planned for accordingly in the unfortunate situation of something happening to you, the practice 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 newsletter and you can also set up a 20-30min Triage conversation to learn a little bit more about how we help OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions to help them live their best life on purpose or check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. If you’re interested in learning more about the upcoming launch of the 20/20 Money Community please check out the link in the Resources to learn more about what we have in store for you. Lastly, this is again another personal ask to you, the listener, to take 30 seconds and leave us a 5 star review and positive feedback in your podcast player. That’s the biggest catalyst to this show getting found by more ODs just like you.   And with that introduction, I hope you enjoy my conversation with Ali Oromchian.   Resources: Phone: 925-999-8200 www.dmcounsel.com Integrated Planning’s Estate Planning Questionnaire   Follow us on Instagram: https://www.instagram.com/2020moneypod/  ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— 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 Amy Alvarez with IDOC. Amy joins me on the show today to discuss a topic that is certainly impacting practice owners in multiple different ways and at multiple different level: attracting and retaining staff in your practice. Amy shares a lot of great information and insights, including tips on how to how to best create a job ad to attract quality candidates, why yet again it “starts with why” in your practice, the mismatch in available candidates relative to open positions that she’s seeing in the marketplace, how bonus structures have changed in today’s marketplace, and different strategies to search for the ideal team member.   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 help OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions to help them live their best life on purpose. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Community 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 Amy Alvarez.   Resources: IDOC Amy’s profile Indeed Employer Page QR Code generator   Follow us on Instagram: https://www.instagram.com/2020moneypod/  ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— 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! Today, I talk about the importance of understanding your savings rate and how that relates to the overall owner income that the practice produces. We’ll also tie this into the long-term planning implications of NOT knowing and understanding your savings rate and how lifestyle creep can be silent headwinds as you work towards making work optional.   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 help OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions to help them live their best life on purpose or check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars.   4 Levers in Retirement Backdoor Roth IRA Hierarchy of savings for optometrist SECO 20/20 Money Community Information   Follow us on Instagram: https://www.instagram.com/2020moneypod/  ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— 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! I’m joined by Kayla Ashlee (founder of Spexy) live at Vision Expo West. Kayla and I spend our time talking about a word that often gets a very negative connotation in practices: sales. We talk about ways to make sales a positive experience, we each share our definition of what sales means to us, and ways to think about changing sales culture in your office. We wrap up the conversation with Kayla telling us what two words, if given the chance, she would abolish from every optometry office.   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 help OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions to help them live their best life on purpose or check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars.   Resources: Spexy 20/20 Money Community Information   Follow us on Instagram: https://www.instagram.com/2020moneypod/  ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— 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 Billy Murray with myeyedr.   I wanted to have Billy on the show to talk about the current state of private equity in the optometry space and have him share his perspective as someone that is working with partner practices that choose to align with myeyedr. We talk about everything from the basics of PE, where he feels we’re at in the cycle of PE, the benefits and exchanges of a PE-based exit strategy, how he thinks about the challenge of rural optometry, and a number of other topics. I’m grateful that he came on the show to talk through these items and give you, the listener, the “buyer’s perspective.”   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 help ODs around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions or check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars.   And with that introduction, I hope you enjoy my conversation with Billy Murray.   20/20 Money Community Information     Follow us on Instagram: https://www.instagram.com/2020moneypod/  ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!

Welcome this episode of 20/20 Money! Practice financials can sometimes seem complicated and overwhelming, especially if you haven’t had any business training or your accountant/CPA or bookkeeper hasn’t spent time helping you understand your financials. In this episode, I’ll walk through the basics of the three important financial documents and how to put those through the filter of your own personal finances and monthly budget.   Resources https://integratedpwm.com/201    20/20 Money Community Information   Email 20/20 Money [email protected]  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 help OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions to help them live their best life on purpose or check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars.   Follow us on Instagram: https://www.instagram.com/2020moneypod/  ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— 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! This is a very special episode of 20/20 Money in that it is our 200th episode!!   And I can’t think of a better way to celebrate than to announce the launch of the “20/20 Money Community!”   In this episode I’m going to get pretty personal with you and share some of the backstory and context around how this show has evolved, the “why” behind a lot of the work that I do, and what we’re going to be rolling out here at 20/20 Money in the next couple of weeks. I’m so excited to share this announcement with you and I appreciate your continued support of the show!!!   20/20 Money Community Information   Email 20/20 Money [email protected]  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 help OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions to help them live their best life on purpose or check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars.   Follow us on Instagram: https://www.instagram.com/2020moneypod/  ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— 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 JR Armstrong. JR joins me back on the show to talk about a common tax planning strategy that we both see utilized in optometric practices: buying a vehicle through the practice. We cover the basics of what needs to be considered, some of the nuances and limitations of having the practice buy the vehicle, and most importantly ensuring that you understand the big picture of what it means to depreciate property like vehicles 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 newsletter and you can also set up a 20-30min Triage conversation to learn a little bit more about how we help ODs around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions to help them live their best life on purpose, or check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars.   And with that introduction, I hope you enjoy my conversation with JR Armstrong.   Resources: https://integratedpwm.com/199   Follow us on Instagram: https://www.instagram.com/2020moneypod/  ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— 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. Jennifer Stewart. Jen joins me again on the show to talk about an interesting transition that’s just occurred for her, and that was selling her practice! Longtime listeners of the show will know that she owned a very successful practice in Connecticut. However, she also felt a calling to use her experience as a successful practice owner to help others in the profession run successful practices and viewed this part of life as the time to do it, and in this conversation we dive into the details of that transition.   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 help ODs around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions or check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars.   And with that introduction, I hope you enjoy my conversation with Dr. Jennifer Stewart.   Resources: Rocket Fuel

Welcome to this episode of 20/20 Money! My guest on today’s show is Greg Crabtree, CPA.   Greg is the author of two of my favorite books about running a business and using the numbers of your business to make informed decisions (Simple Numbers, Straight Talk, Big Profits and Simple Numbers 2.0: Rules for Smart Scaling). He’s also the Partner in Charge in the Huntsville, AL office of Carr, Riggs, and Ingram and I was excited to chat with him about the concepts he talks about in his book. We talk about cash reserves in your business, the 4 forces on cash flow and the importance of starting with profitability, the lies that business owners tell themselves through their financials, why meal periods are important to him, and why the rolling 12 month financial report is so much more important than YTD.   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 help OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions to help them live their best life on purpose or check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars.   And with that introduction, I hope you enjoy my conversation with Greg Crabtree.   Follow us on Instagram: https://www.instagram.com/2020moneypod/  ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— 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. Mick Kling, OD. Last week was part 1 of our two-part conversation on all things related to practice transitions. We talk about practice transitions from both the buyer’s and seller’s perspective and talk about the entire life cycle of the process.   Today’s episode is Part 2, and we continue the conversation by first diving deeper into the banking and financing aspects and best practices of practice transitions. We then talk about submitting your offer, binding vs non-binding terms in an LOI, why valuations are largely unimportant and dare I say useless, how the ownership of the building can play into the deal, and the confirmatory due diligence process and closing, including some thoughts on credentialing and its impact on the transition.   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 help ODs around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions or check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars.   And with that introduction, I hope you enjoy my conversation with Dr. Mick Kling.   Resources: https://integratedpwm.com/196   Follow us on Instagram: https://www.instagram.com/2020moneypod/  ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— 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. Mick Kling, OD. In this two-part conversation with Mick, he and I have a deep and well-rounded discussion on all things related to practice transitions. We talk about practice transitions from both the buyer’s and seller’s perspective and talk about the entire life cycle of the process.   Today’s episode is Part 1, and we cover information related to the beginning stages of buying a practice. We talk about the qualitative and quantitative characteristics of a buyer, how to find practices for sale, and we explore the due diligence process in 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 newsletter and you can also set up a 20-30min Triage conversation to learn a little bit more about how we help ODs around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions or check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars.   And with that introduction, I hope you enjoy my conversation with Dr. Mick Kling.   Resources: https://integratedpwm.com/195   Follow us on Instagram: https://www.instagram.com/2020moneypod/  ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— 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 Steve Alexander. I wanted to have Steve back on the show to “bookend” the mini-series we did around the subject of vision care plans and their role in your practice’s profitability. In this conversation, we discuss some of the highlights and takeaways we both had based off last week’s episode with Dr. Kyle King. If this is your first time checking out 20/20 Money, thanks so much for being here!! This usually isn’t the case, but today’s episode will have a lot more context if you have listened to the previous two weeks’ episodes, so I really encourage you to go back and listen to those first before listening to 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 newsletter and you can also set up a 20-30min Triage conversation to learn a little bit more about how we help ODs around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions or check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars.   And with that introduction, I hope you enjoy my conversation with Steve Alexander and this mini-series on going out of network with vision care plans!   Resources: https://integratedpwm.com/194   Follow us on Instagram: https://www.instagram.com/2020moneypod/  ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— 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. Kyle King. Kyle is a partner at Evansville Eyecare Associates in Evansville, IN and is a 2011 grad of IU School of Optometry (I know this because he graduated with my wife). Kyle joins the show today to talk about a journey and transition that I feel a lot of practice owners have thoughts about in the past, and that was his and his partner’s decision to become out-of-network for all vision plans and effectively be a fee-for-service practice. Kyle talks about the tipping point that essentially forced the practice to make this decision, the patient communication strategy that they implemented to ensure that patients weren’t surprised about the change, a few lessons learned, as well as the various benefits they’ve seen after having made the switch.   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 help ODs around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions or check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars.   And with that introduction, I hope you enjoy my conversation with Kyle King.   Resources: https://integratedpwm.com/193    Follow us on Instagram: https://www.instagram.com/2020moneypod/  ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— 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 Steve Alexander from Anagram.   Steve joins me on the show today to talk about a topic that is getting an increasing amount of attention in the private practice landscape: the role that VCPs play in a private practice and how the landscape is shifting in the way that practice owners evaluate the partners they have in their practice, and how that impacts their top and bottom lines. We touch on a variety of topics that cover everything from how to prepare your practice for this type of pivot to how you can use this change to proactively market to the public, how to think about your patient acquisition cost, the pricing of your materials, and some scripting and “reframing” you can do in the communication with your 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 newsletter and you can also set up a 20-30min Triage conversation to learn a little bit more about how we help ODs around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions or check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars.   And with that introduction, I hope you enjoy my conversation with Steve Alexander.   Resources: https://integratedpwm.com/192    Follow us on Instagram: https://www.instagram.com/2020moneypod/  ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— 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! On today’s show I recap some of the ideas and thoughts I shared during the recent town hall event I did with The Power Practice. I talk about ways to attract and retain your team members, specific areas to drill down on your profit/loss statement, why you need to revisit the debt in your practice, what can happen to multiples of practices in a rising rate environment, and why you need to be more observant of how much and the cost of cash in your life right now.   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 help ODs around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions or check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars.   Follow us on Instagram: https://www.instagram.com/2020moneypod/  ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!

There are so many options an optometrist can consider when thinking about the prioritization of savings vehicles for both short term and long term needs. In today’s show, we walk up the savings ladder through the lens of tax efficiency.   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 help ODs around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions or check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Why the backdoor Roth IRA matters for optometrists Follow us on Instagram: https://www.instagram.com/2020moneypod/  ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— 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 Peter Lazaroff (LinkedIn Profile).   Peter is a Chartered Financial Analyst, firm owner, author, speaker, podcast host, and chief investment officer of Plancorp, LLC, a fee-only Registered Investment Advisor in St. Louis overseeing over $6 billion of assets for clients around the country. Peter joins me on the show to talk about a variety of topics around investing that apply to an optometric practice owner. We dive into which investors are really moving the markets, the importance of diversification as a practice owner, how to take an evidentiary approach to investing, and we touch on the hot topic of inflation in today’s current market and how to think about it in relation to your 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 20-30min Triage conversation to learn a little bit more about how we help ODs around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions or check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars.   And with that introduction, I hope you enjoy my conversation with Peter Lazaroff.   Resources: The Long Term Podcast Get a copy of Peter’s free book!! How Peter Invests His Money Four levers podcast Rethinking your approach to investment allocation as a practice owner (Barbell approach)   Follow us on Instagram: https://www.instagram.com/2020moneypod/    ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  —————————————————————————————   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. Ryan Gustus. Ryan is a partner at Eyecare Associates of Bluffton and Roanoke and also co-founder of Lensquote and their newest tool called Profit Assist.   Ryan joins the show today to talk about something that every practice owner should be focused on in their practice and that’s the pricing of their contact lenses. We talk about how to think about your pricing model, how you evaluate profitability, strategies for pricing CLs in your practice, and some of the fallacies that surround pricing models in optometric practices.   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 help ODs around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions or check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars.   And with that introduction, I hope you enjoy my conversation with Dr. Ryan Gustus. Follow us on Instagram: https://www.instagram.com/2020moneypod/  ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— 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 Nathan Hayes with IDOC.   In this conversation Nathan and I talk through the qualitative and quantitative metrics and mindsets to consider when identifying whether and when your practice is ready to add an associate. We talk about the importance of beginning with the end in mind, the steps to consider when adding an associate, how the math works in which you’ll make more money working less in the practice, and how practices can end up making LESS money as they get bigger by losing focus on 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 newsletter and you can also set up a 20-30min Triage conversation to learn a little bit more about how we help ODs around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions or check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars.   And with that introduction, I hope you enjoy my conversation with Nathan Hayes.   Follow us on Instagram: https://www.instagram.com/2020moneypod/  ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— 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 Eric Nelson (@servowealth on Twitter). Eric joins us back on the show to talk through being an investor in a choppy market, as we’re recording this as the major markets are knocking on the door of a bear market, which is when markets decline 20% from their previous highs. We talk about celebrating diversification, the role of fixed income in the current interest rate environment, portfolio distributions in retirement, and investing in challenging markets when you haven’t taken action on your portfolio in a long time.   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 help ODs around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions or check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars.   And with that introduction, I hope you enjoy my conversation with Eric Nelson. Follow us on Instagram: https://www.instagram.com/2020moneypod/  ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!

Running a practice can be complicated and there is no shortage of numbers to track. Distilled down, though, an optometry practice (or any business for that matter) has three areas in which to deploy the excess cash that it produced. In this episode, we’ll discuss those three areas, the prioritization of those areas, and why it’s important to understand the relationship that all three of them have with one another.   Resources: Do you have an intentional practice? – Review of Optometric Business   Follow us on Instagram: https://www.instagram.com/2020moneypod/  ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!

Welcome to this rewind episode of 20/20 Money! My guest on today’s show is Dave Goetsch. I wanted to bring this episode back from early 2020 because we are finding ourselves in the midst of another market correct, albeit for different but yet related reasons. What I think it still timely (and timeless) about this conversation is the part where Dave talks about some of the big bets and lessons he made as investor along the way to having a disciplined investment philosophy. I think it’s important today as investors reconcile with some of the concentrated areas of the market that are experiencing some steeper corrections than others, notably those assets in the cryptocurrency space as well as the tech and “COVID stock” parts of the market.   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 help ODs around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions or check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars.   And with that introduction, I hope you enjoy my conversation with Dave Goetsch. Follow us on Instagram: https://www.instagram.com/2020moneypod/  ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— 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 Erich Mattei. Erich is the founder of Akrinos, a consulting firm that not only helps ODs thrive in today’s practice management landscape but takes it a step further by helping with the implementation and execution of identified strategies that will improve upon a practice’s success. In this conversation, Erich joins me live at Vision Expo East in New York City to discuss the best way for Associate ODs to approach practice owners about compensation adjustments, and how to best set yourself up for success.  Opportunity Simulator on Akrinos website Follow us on Instagram: https://www.instagram.com/2020moneypod/  ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!

Sometimes we can lose focus of just how simple business can be, and an optometric practice isn’t any different. In this episode I’ll break down the three factors that, when multiplied together, will give you the top line, gross revenue of your practice. I’ll then walk you through the mindset and logistics of how you can use this number to start thinking about intentionally creating the practice that ultimately serves you and your personal goals.   Resources: Register for “Looking back to look ahead” tax planning webinar Do you have an “intentional” practice? – Review of Optometric Business Plan your year: an introduction to free, focus, and buffer days (episode 114 of 20/20 Money) If you’re interested in registering for our tax planning workshop on May 11th, you can click on this link to register. Info on the AOA Credit Card Follow us on Instagram: https://www.instagram.com/2020moneypod/  ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— 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. Bethany Fishbein. Bethany is the CEO of Power Practice and host of the Optometry Power Hour podcast. Bethany joins me live from Vision Expo to talk about her perspective on why we both love the model of private practice model in optometry, why it’s important to surround yourself with a good community as a business owner and OD, the importance of learning about leadership and business, and ways in which you can take action on the areas that we discuss.   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 help ODs around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions or check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars.   And with that introduction, I hope you enjoy my conversation with Dr. Bethany Fishbein. If you’re interested in registering for our tax planning workshop on May 11th, you can click on this link to register. Info on the AOA Credit Card Follow us on Instagram: https://www.instagram.com/2020moneypod/  ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— 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! Coinciding with tax day, this episode will dive into the nuances and understanding the clarity (and penalties) associated with not understanding that getting an extension to file your tax return is not an extension to pay. I’ll also discuss the details of underpayment penalties as well as how to think about proactive cash flow planning and how that influences your tax payment schedules and strategies.   If you’re interested in registering for our tax planning workshop on May 11th, you can click on this link to register.   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 help ODs around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions or check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars.   Info on the AOA Credit Card Failure to pay penalty information from IRS.gov Follow us on Instagram: https://www.instagram.com/2020moneypod/  ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— 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 (email; website).   Todd joins the show to talk about how much of a positive impact integrating ocular surface disease has been not only for the increased standard of care he’s been able to provide patients but also how that has helped him run a very profitable practice. We start out talking about how his practice does things a bit different by charging for the pretesting in their office, how that has translated into his revenue per patient being in the 99th percentile, how he got involved in OSD, a bit of a clinical digression about Lipiflow, mistakes he’s observed practice owners make, and how practice owners can begin to think about executing on this plan 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 newsletter and you can also set up a 20-30min Triage conversation to learn a little bit more about how we help ODs around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions or check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars.   And with that introduction, I hope you enjoy my conversation with Dr. Todd Cohan. Follow us on Instagram: https://www.instagram.com/2020moneypod/  ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— 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. Gina Wesley, OD. Gina joins me for another conversation around the importance of being tuned into the scheduling metrics of your practice and how important it is to your overall profitability. We talk about the metrics she uses to evaluate and determine success, strategies her team uses to fill up the schedule, how she “triages” candidates to backfill the schedule, how she tracks all of this in her HER, and the important benefit that online scheduling plays in the flow of her schedule.   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 help ODs around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions or check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars.   And with that introduction, I hope you enjoy my conversation with Dr. Gina Wesley.   Complete Eyecare of Medina Gina’s Tip of the Week article Episode #80 of 20/20 Money: Managing your schedule to profitability Follow us on Instagram: https://www.instagram.com/2020moneypod/  ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— 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. Jennifer Stewart. Jen joins the show live while we were both presenting at IDOC’s Connection meeting in Orlando to talk about something that’s very timely for every practice owner out there right now: retaining and empowering team members and using metrics to guide your human capital. We touch on a variety of topics in this wide-reaching conversation and I believe you’ll gain great insights and ideas on ways to manage and lead your teams.   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 help ODs around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions or check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars.   And with that introduction, I hope you enjoy my conversation with Dr. Jennifer Stewart. Follow us on Instagram: https://www.instagram.com/2020moneypod/  ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— 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. Solomon Gould, OD MBA (Facebook. LinkedIn, Instagram, Email).   In addition to owning two private practices in MN and being part of a multigenerational optometric family, Solomon is a speaker, author, practice management consultant, and all-around glass-half-full kind of guy and I really enjoyed this conversation with him. Our conversation first starts with us talking about KPIs in a practice and which ones to focus on and which ones to not focus as much attention. We then pivot the conversation, diving into the human capital conundrum that a lot of practice owners are feeling right now and how generational differences can impact the way that practice owners should be showing up in their practice and how they lead their team. We also discuss ways in which practice owners can reduce their expenses, the value of buying groups, why online scheduling is table stakes for practice owners right now, and whether we’d each rather be a buyer or a seller right now in today’s market. Last but certainly not least, I give Solomon an acuity check on the spot and he shares his answer to the question that we ask every first-time guest 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 newsletter and you can also set up a 20-30min Triage conversation to learn a little bit more about how we help ODs around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions or check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars.   And with that introduction, I hope you enjoy my conversation with Dr. Solomon Gould.   Resources: Jason Dorsey’s page Solomon’s bio page & resources Follow us on Instagram: https://www.instagram.com/2020moneypod/  ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— 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! This episode is my guest appearance on Medical Millennial series with Dr. Emilie Seitz. Emilie was kind enough to have me on the channel to talk about a variety of topics that impact younger practitioners and practice owners, but I’ll emphasize that the topics are relevant to all practice owners—regardless of experience. In this conversation we talk about when and how to hire an advisor, how to think about setting personal and financial goals, defining success for yourself, mistakes that young practice owners make, and the importance of “betting on yourself” for long term 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 newsletter and you can also set up a 20-30min Triage conversation to learn a little bit more about how we help ODs around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions or check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars.   If you’re interested in having your question and your voice featured on the 20/20 Money podcast, you can submit it here. You can either include your name or submit anonymously. Please keep your questions short and to the point. Sometimes writing it down beforehand can help.   And with that introduction, I hope you enjoy my conversation with Dr. Emilie Seitz Follow us on Instagram: https://www.instagram.com/2020moneypod/  ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— 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! This episode is my guest appearance on the Power Hour Optometry Podcast hosted by Dr. Bethany Fishbein, CEO of Power Hour. Bethany wanted to have me on the show to talk about the various different areas of a practice owner’s life that they should be planning for in case of a disaster or emergency, and I enjoyed this conversation and tried to make it as fun as possible for an otherwise scary and not urgent topic. Our conversation starts on the personal side of planning and then we quickly shift over into the various areas of practice ownership that should be planned for, addressing the continuity of a practice in both a partner-owned and solo owned practice model.   Two “housekeeping announcements” about this show: first, the show notes for this episode of 20/20 Money contains the link to the Disaster Recovery Checklist we mention in our conversation; you don’t have to click into the Power Hour show to get it, though we highly suggest you subscribe to the Power Hour Optometry podcast. Second, we had a bit of a connectivity and streaming issue in the beginning of the show, so there are a few points in the beginning of the episode that have a slight break in the audio. We fixed the issue mid-episode and the remaining part of the conversation sounds better. My apologies!   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 help ODs around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions or check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars.   And with that introduction, I hope you enjoy my conversation with Dr. Bethany Fishbein on Power Hour Optometry.   Disaster Recovery Checklist Follow us on Instagram: https://www.instagram.com/2020moneypod/  ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— 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 Hayley Stewart. Hayley is the Financial Services Manager for IDOC and predominately focuses her time and expertise on bookkeeping services for IDOC clients. Hayley joins the show to talk about the importance of bookkeeping in practices and how to properly ensure that your books are accurate. We spend a lot of time talking about items that are reported on the balance sheet and specifically talk about why it’s important to understand the relationship of your retained earnings and your net income.   Today’s quote comes to us from Ben Franklin: “An investment in knowledge pays the best interest.”   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 help ODs around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions or check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars.   And with that introduction, I hope you enjoy my conversation with Hayley Stewart. Follow us on Instagram: https://www.instagram.com/2020moneypod/  ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— 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 Phil Huber, CFA, CFP® (@bpsandpieces).   Phil has been involved in the financial services business since 2007 and is the Chief Investment Officer in Savant Wealth’s Lincolnshire, IL office, is a member of the Investment Team, has a membership interest in Savant, and is a member of the Investment Committee. He is responsible for portfolio management, contributing to Savant’s investment strategy, and managing investment processes for clients. He takes an active role in writing straightforward commentary to inform clients and explain the firm’s investment philosophy and also writes on his own blog, aptly named Bps and Pieces. And FYI, a “bip” is a basis point. One basis point is one hundredth of one percent. So a mutual fund with an expense ratio of 0.35% would, in “investment speak,” have an ER or 35bps. That’ll be important to understand and have context around at various points in the conversation. Prior to joining Savant, Phil was employed at a global asset management company where he worked closely with financial advisors to develop investment strategies for their clients. He earned a bachelor’s degree in finance from the Kelley School of Business at Indiana University. He is a CERTIFIED FINANCIAL PLANNER™ professional, has attained his Chartered Financial Analyst® (CFA®) designation, and is a member of the CFA Society of Chicago.   Phil joined the show to talk about the past, present, and future of asset allocation of investors’ portfolios. He shares why we should be rethinking the construction of the flagship 60/40 portfolio, the evolution and definition of “alternative investments,” the role that one’s own business plays in their investment portfolio, and gives some direction and guidance to investors that want to begin the due diligence on whether and to what extent alternative asset classes are going to fit into their overall 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 20-30min Triage conversation to learn a little bit more about how we help ODs around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions or check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars.   And with that introduction, I hope you enjoy my conversation with Phil Huber. Follow us on Instagram: https://www.instagram.com/2020moneypod/  ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— 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 Ashy Daniels, CFP®. Ashby is an advisor, firm owner, blogger, and friend of mine and I wanted to have him on to talk about a variety of thoughts and perspectives as it relates to financial planning and portfolio management and how that specifically applies to ODs and practice owners. In this conversation, we talk about the differences between information and knowledge, how investors should think about risk in their portfolio related to the risk in their financial plan, why we both don’t like risk tolerance questionnaires, the mindset of retiring TO something instead of FROM something, and finally Ashby’s answer to the one question that I ask every first-time guest.   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 help ODs around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions or check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars.   And with that introduction, I hope you enjoy my conversation with Ashby Daniels. Follow us on Instagram: https://www.instagram.com/2020moneypod/  ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— 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 Nathan Hayes. Nathan joins me back on the show today to talk about a topic that was actually inspired within the ODs on Finance Facebook community: why practices are valued the way that they are and whether the valuation method that’s used is fair to the seller. Nathan and I discuss this question at length and from several different viewpoints. We also talk about why it’s beneficial for younger ODs looking to purchase a practice to have more cash on your personal balance sheet and have outstanding loans than it is to aggressively pay off your debt…but then not have any liquidity to show for 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 20-30min Triage conversation to learn a little bit more about how we help ODs around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions or check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars.   And with that introduction, I hope you enjoy my conversation with Nathan Hayes.   Links: 4 ways to increase the pre-sale value of your practice (Review of Optometric Business) Follow us on Instagram: https://www.instagram.com/2020moneypod/  ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— 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. Wade Weisz from For Eyes Bookkeeping.   Wade joins the show to talk with me about something that we’re both passionate about: numbers! However, Wade and I are looking at it through two different set of lenses, though we’re both doing it for the same reasons – to ensure that practice owners can be confident in the business decisions and tax planning that they’re making based on the numbers of their practice. In our conversation, we talk about a variety of areas that practice owners should be focused on with regards to their books, including the 4 reports and absolute 1 thing that every practice owner must do as it pertains to their financials.   Today’s quote comes from John Kennedy: “Leadership and learning are indispensable to each other.”   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 help ODs around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions or check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars.   And with that introduction, I hope you enjoy my conversation with Wade Weisz. Follow us on Instagram: https://www.instagram.com/2020moneypod/  ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— 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. Brianna Rhue, OD, co-founder of DrContactLens.com and TechifEYE. Brianna joins the show today to share with us both the qualitative and quantitative benefits of improving the contact lens purchasing experience your patients experience during the exam and overall buying process. We also talk about the genesis of TechifEYE and how creating that platform is allowing practice owners to implement vetted tech tools in their practice to elevate their patient experience and thus relationship equity with their patients.   Today’s quote has an unknown source: “Leaders instill in their people a hope for success and a belief in themselves. Positive leaders empower people to accomplish their goals.”   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 help ODs around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions or check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars.   If you’re interested in having your question and your voice featured on the 20/20 Money podcast, you can submit it here. You can either include your name or submit anonymously. Please keep your questions short and to the point. Sometimes writing it down beforehand can help.   And with that introduction, I hope you enjoy my conversation with Dr. Brianna Rhue. Follow us on Instagram: https://www.instagram.com/2020moneypod/  ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— 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 Eric Nelson, CFA (@ServoWealth). Eric is the found of Servo Wealth Management, a fee-only RIA located in Oklahoma City, OK.   Eric and I share very, very similar investment philosophies in the way we manage client portfolios and I wanted to have him on the show to talk through how investors can think about their own investment philosophy. We talk about the degrees in which one can change their philosophy and approach to investing, why we believe (and the data overwhelmingly shows) that there’s more return to capture in the markets than just investing in the S&P 500 (though it’s a great start), and many other data-driven ideas.   Today’s quote comes to us from Jerry Colonna’s conversation on the Tim Ferriss Show: “How have I been complicit in creating the conditions I say I don’t want?”   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 help ODs around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions or check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars.   And with that introduction, I hope you enjoy my conversation with Eric Nelson.   Callan Chart 2020 Follow us on Instagram: https://www.instagram.com/2020moneypod/  ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!