Schedule Management, Pre-appointing, & The Importance Of Listening To Your Practice W/ Dr. Chris Wolfe, OD 20/20 MONEY podcast

1:06:14

Welcome to this episode of 20/20 Money! My guest on today's show is Mike Jorgenson from Carr Healthcare Realty. Mike joins me back on the show to talk about what goes into a demographics search when evaluating the location of a practice—and he does it from both a cold start as well as existing practice's point of view. We talk about the minimum OD:population ratio that's generally advisable when setting up or buying a practice and other details as it pertains to the factors that influence the demographics of a practice's location. Our conversation then transitions into, well...practice transitions! Whether a selling doctor leases or owns the real estate that the practice is located in, Mike shares important real estate considerations that both sides—buyer and seller alike—should be thinking about and and proactively planning. As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. If you’re interested in learning more about the 20/20 Money Financial Success Masterclass, a course & platform that we created to help ODs become “brilliant at the financial basics,” or are interested in learning more about how OD Masterminds creates space for real conversations, real accountability, and real growth, please check out the link in the show notes of this episode to learn more. And with that introduction, I hope you enjoy my conversation with Mike Jorgenson. Resources: 20/20 Money Ultimate Financial Success Masterclass OD Mastermind Interest Form Carr Healthcare Realty . ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!…

20/20 MONEY

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The power of community, stopping the "race to the bottom," educating ODs on practice affordability, discussing the Associate OD shortage, and more with Dr. Mick Kling, OD 44:24

7 days ago44:24

44:24

Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Mick Kling, OD. Mick joins me back on the show to talk about the power of community within the profession and how optometrists can avoid the “race to the bottom” when it comes to pricing by focusing on delivering and communicating value to their patients. We also discuss how to evaluate the affordability of a practice, the tools available to help aspiring owners make informed decisions, the current shortage of associate ODs, and the importance of building strategic partnerships throughout a practice owner’s career. Be sure to check out the show notes for a number of helpful resources we reference throughout our conversation. As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. Lastly, if you’re interested in learning more about the 20/20 Money Financial Success Masterclass, a course & platform that we created to help ODs become “brilliant at the financial basics,” please check out the link in the show notes of this episode to learn more. And with that introduction, I hope you enjoy my conversation with Dr. Mick Kling, OD Resources: 20/20 Money Membership Information OD Masterminds Request Form Adding an Associate Spreadsheet The Buy-In Spreadsheet to help you evaluate whether a practice is worth buying, how much to pay, and what you’ll earn (Part of the Toolkit) Vision Source - AOD open positions Adding an Associate White Paper Vision Source Next ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!…

20/20 MONEY

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From blank to bank: How a $35 lens becomes a $525 sale by finishing in-house with Dr. Mike Satryan, OD 1:04:06

14 days ago1:04:06

1:04:06

Welcome to this episode of 20/20 Money. My guest on today's show is Dr. Mike Satryan, OD, a partner with Mountain View Eye in Altoona, PA. Mike is a long-time practice owner who brings over 25 years of experience running an in-house optical lab within their practice. We dive into the substantial cost savings his practice has realized by finishing lenses on-site and how that margin improvement supports a compensation model tied to gross revenue growth. We explore how having an in-house lab not only boosts profitability but also enhances second-pair and annual contact lens supply conversions, thanks in part to a more efficient optical experience. He also shares his buying criteria when evaluating edgers, what ultimately influenced his choice of supplier, and whether the edger is patient-facing or kept behind the scenes. Whether you’re a solo OD or managing a multi-doctor practice, this conversation offers valuable insight into the operational and financial upside of bringing lens finishing in-house. As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. If you’re interested in learning more about the 20/20 Money Financial Success Masterclass, a course & platform that we created to help ODs become “brilliant at the financial basics,” or are interested in learning more about how OD Masterminds creates space for real conversations, real accountability, and real growth, please check out the link in the show notes of this episode to learn more. And with that introduction, I hope you enjoy my conversation with Dr. Mike Satryan, OD. Resources: 20/20 Money Ultimate Financial Success Masterclass OD Mastermind Interest Form Edging In-House vs Outsourcing: The Economics, Trade-Offs, and Data An Optometric Practice Needs to Measure with Drs. Jennifer Stewart, OD & Sam Hornberger, OD Kayla Ashlee — Increasing Optical Revenue Kayla Ashlee—Tracking Frame Turn Connect with Mike ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!…

20/20 MONEY

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The home loan balancing act: smart mortgage moves for optometry practice owners with Lee Raykovicz, OD 1:06:38

21 days ago1:06:38

1:06:38

Welcome to this episode of 20/20 Money! My guest on today's show is Lee Raykovicz, OD, a mortgage broker with Go Rascal Mortgages. On today's episode we dive into what goes into the mortgage underwriting process, how practice owners can get creative when it comes to purchasing their homes, the details on what Physician loans actually are and how they work, how to think about the total DTI ratio when thinking about your mortgage & student loans, and ARM strategy ideas in today's rate environment. As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. If you’re interested in learning more about the 20/20 Money Financial Success Masterclass, a course & platform that we created to help ODs become “brilliant at the financial basics,” or are interested in learning more about how OD Masterminds creates space for real conversations, real accountability, and real growth, please check out the link in the show notes of this episode to learn more. And with that introduction, I hope you enjoy my conversation with Lee Raykovicz. Resources: 20/20 Money Ultimate Financial Success Masterclass OD Mastermind Interest Form Contact Lee ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!…

20/20 MONEY

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REWIND: 3 financial lessons learned from my grandpa and grandma that can shape your relationship with money 33:10

28 days ago33:10

33:10

Welcome to this REWIND episode of 20/20 Money! Given that my grandpa just recently celebrated his 96th birthday, I wanted to bring back this episode and share it again for new and long-time listeners alike. It's also a subtle reminder about the importance of understanding longevity risk in one's financial plan. I can only imagine the unfortunate situation my grandpa would be in had he and my grandma not had a sound investment strategy that has allowed them to build up a portfolio that has lasted the entirety of his retirement. On this episode, I wanted to share a bit of a personal story about 3 lessons that I learned from my grandparents that have in large part shaped the money story and lessons that have guided my financial journey and how I view and use money money in my life. I hope this conversations gives you a benchmark and different viewpoint to compare your own money values and purpose. If you feel like you don’t have a grasp on your own money story and purpose, my hope is that it inspires you to start thinking intentionally about how you make spending and investing decisions with your dollars. As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. If you’re interested in learning more about the 20/20 Money Financial Success Masterclass, a course & platform that we created to help ODs become “brilliant at the financial basics,” or are interested in learning more about how OD Masterminds creates space for real conversations, real accountability, and real growth, please check out the link in the show notes of this episode to learn more. Resources: 20/20 Money Ultimate Financial Success Masterclass OD Mastermind Interest Form ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!…

20/20 MONEY

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Schedule management, pre-appointing, & the importance of listening to your practice w/ Dr. Chris Wolfe, OD 39:22

5 weeks ago39:22

39:22

Welcome to this episode of 20/20 Money! My guest on today's show is Dr. Chris Wolfe, OD. Chris joins me back on the show to talk about why it's important to be intentional about the business decisions you make in your practice and make those decisions based on data and a plan. We talk about this concept through the lens of schedule management and how to think about pre-appointing your patients within a practice, and it's in part based off some listener feedback that I received almost a year ago. As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. If you’re interested in learning more about the 20/20 Money Financial Success Masterclass, a course & platform that we created to help ODs become “brilliant at the financial basics,” or are interested in learning more about how OD Masterminds creates space for real conversations, real accountability, and real growth, please check out the link in the show notes of this episode to learn more. And with that introduction, I hope you enjoy my conversation with Dr. Chris Wolfe, OD. Resources: 20/20 Money Ultimate Financial Success Masterclass OD Mastermind Interest Form Practice Performance Partners ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!…

20/20 MONEY

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Increasing optical sales using influential communication with Kayla Ashlee (live on location from BCDO) 1:04:28

6 weeks ago1:04:28

1:04:28

Welcome to this episode of 20/20 Money! My guest on today's show is Kayla Ashlee . Kayla joins me on the show to discuss how the communication cues (or miscues) that unknowingly are happening in your office can be both positively or negatively impacting your patient experience and thus influencing the buying decisions of your patients. She shared examples of good and not-so-good cues that can be happening across the patient journey—from the moment the patient comes into your office all the way through their optical buying experience. This was a very enjoyable and timely conversation given the relative proximity to the Frankenstein episode I did a couple of weeks ago, because as I said in that episode, one of the investments I would make in both myself and my team as early as possible is good sales and communication training...and this confirmation was an example of why it's so important. As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. If you’re interested in learning more about the 20/20 Money Financial Success Masterclass, a course & platform that we created to help ODs become “brilliant at the financial basics,” or are interested in learning more about how OD Masterminds creates space for real conversations, real accountability, and real growth, please check out the link in the show notes of this episode to learn more. And with that introduction, I hope you enjoy my conversation with Kayla Ashlee. Resources: 20/20 Money Ultimate Financial Success Masterclass OD Mastermind Interest Form Cues by Vanessa VanEdwards Spexy Stop the Walkouts Series 20/20 Frankenstein Episode ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!…

20/20 MONEY

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Let's RAGE!!! (a Rant Against Growth Excuses) with Nathan Hayes 1:08:46

7 weeks ago1:08:46

1:08:46

Welcome to this episode of 20/20 Money! My guest on today’s show is Nathan Hayes with Books & Benchmarks and IDOC. On this show, Nathan and I RAGE!! That's right, we Rant Against Growth Excuses. We talk about the common headwinds, obstacles, and challenges that we both hear when talking with practice owners...and how to think about solving those issues by thinking differently about the challenges. As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. If you’re interested in learning more about the 20/20 Money Financial Success Masterclass, a course & platform that we created to help ODs become “brilliant at the financial basics,” or are interested in learning more about how OD Masterminds creates space for real conversations, real accountability, and real growth, please check out the link in the show notes of this episode to learn more. And with that introduction, I hope you enjoy my conversation with Nathan Hayes. Resources: IDOC Books & Benchmarks Link How to increase the multiplier in your practice value with Nathan Hayes How to use (and NOT use) benchmarks with Nathan Hayes Edging in-house vs outsourcing: the economics, trade-offs, and data an optometric practice needs to measure with Drs. Jennifer Stewart, OD & Sam Hornberger, OD Forget goal-setting and focus on purpose: a mindset conversation with Stephanie Bogan 10x Is Easier Than 2x: How World-Class Entrepreneurs Achieve More by Doing Less Extreme Ownership: How U.S. Navy SEALs Lead and Win 20/20 Money Ultimate Financial Success Masterclass OD Mastermind Interest Form ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!…

20/20 MONEY

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Live from NSUOCO: Top 10 Tips for (Financial) Success for Optometrists 1:18:10

8 weeks ago1:18:10

1:18:10

Welcome to this episode of 20/20 Money! This week's episode is the recording of my presentation at NSUOCO, titled "Top 10 Tips for (Financial) Success for Optometrists." Over the course of the year, I'm privileged to present in front of a variety of optometry schools' private practice clubs and classes. The purpose of the presentation is to help ODs understand the ABCs and 123s of personal finance and how to better understand the business of optometry so that, upon graduation, they are able to make educated and informed decisions about their money. Given that the content and lessons are pretty evergreen, I thought this would be a good "refresher" episode for listeners of the show—young and "seasoned" alike. Even though you won't have the Powerpoint deck to follow along, I tried to present the content in a way that would transfer well to the podcast. Special shout out to my producer Kyle for working his magic with the audio as well as Corbin Lill, a student at NSUOCO, for having me. If you are either in school or connected to a school and would like me to do a similar presentation, please email me at podcast@integratedpwm.com . As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. If you’re interested in learning more about the 20/20 Money Financial Success Masterclass, a course & platform that we created to help ODs become “brilliant at the financial basics,” or are interested in learning more about how OD Masterminds creates space for real conversations, real accountability, and real growth, please check out the link in the show notes of this episode to learn more. And with that introduction, I hope you enjoy my live presentation from NSUOCO. Resources: 20/20 Money Membership Information OD Mastermind Interest Form ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!…

20/20 MONEY

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My Frankenstein practice: how I would assemble the perfect optometry practice 1:00:11

9 weeks ago1:00:11

1:00:11

Welcome to this episode of 20/20 Money! What would I do if I were starting an optometric practice from the ground up? A listener posed the question—and I went deep. In this episode, I walk through everything from choosing the right location (hint: geography is everything) to building the skills that matter most when you’re just getting started. We cover: Why defining your Ideal Patient Avatar (IPA) is mission-critical The underrated value of sales coaching and communication training Why I’d buy a small-town practice instead of cold-starting in suburbia The non-negotiables when assembling your professional advisory team Whether you’re dreaming about opening your own practice or wondering how you’d do it differently if you had a do-over, this episode is full of real-world insight and practical advice. As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. Lastly, if you’re interested in learning more about the 20/20 Money Financial Success Masterclass, a course & platform that we created to help ODs become “brilliant at the financial basics,” please check out the link in the show notes of this episode to learn more. Resources: 20/20 Money Membership Information OD Masterminds Request Form Tim Ferriss Fear Setting Jen Stewart from IDOC 2024 ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!…

20/20 MONEY

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Can we PLEASE agree on some numbers (and the KPIs that influence them)?? 39:17

10 weeks ago39:17

39:17

Welcome to this episode of 20/20 Money! In this episode, we tackle the confusion around key financial numbers in your optometric practice and why it’s critical to have a common understanding of their definitions. From gross COLLECTED revenue, cost of goods sold, and net operating income, we explore the most important KPIs that influence your bottom line. Whether you’re looking to grow, improve efficiency, or just understand your business better, this conversation will help you create a clearer, more actionable financial dashboard. We dive into: Why “collections” and “gross revenue” are not the same thing The 3-5 core numbers every practice owner should track consistently How to think about net income in your practice as both the clinician and the owner Stop guessing. Start tracking what actually matters. As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. Lastly, if you’re interested in learning more about the 20/20 Money Financial Success Masterclass, a course & platform that we created to help ODs become “brilliant at the financial basics,” please check out the link in the show notes of this episode to learn more. Resources: 20/20 Money Membership Information OD Masterminds Information Request ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!…

20/20 MONEY

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An update on Taxes 101: Understanding tax brackets, deductions, and credits for optometric practice owners 48:38

11 weeks ago48:38

48:38

Welcome to this episode of 20/20 Money! In today’s episode, we’re diving into the details of your tax return—beyond just whether you got a refund. We’ll break down the difference between deductions and credits, how our tax brackets work, why you should focus on Line 24—your total tax paid—instead of Lines 34 or 37, and what Line 38 might be telling you about penalties and interest. We’ll also highlight common areas for errors, clarify how the QBI deduction applies depending on your income level, and walk through important forms like Form 8960 for NIIT cancelation, Form 8889 for HSAs, and the health insurance deduction. As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. Lastly, if you’re interested in learning more about the 20/20 Money Financial Success Masterclass, a course & platform that we created to help ODs become “brilliant at the financial basics,” please check out the link in the show notes of this episode to learn more. Resources: 20/20 Money Membership Information OD Masterminds Information Request 20/20 Episode #332 - Difference between Saving & Deferring Taxes Planning for the QBI (199A) Deduction in your practice Review of Optometric Business 199A Article ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!…

20/20 MONEY

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The Art of Delegation from a practice owner's perspective with Dr. Ted McElroy, OD 58:05

12 weeks ago58:05

58:05

Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Ted McElroy, OD. Ted and I share in a conversation that's on the heels of a 2 hour CE session I did at SECO 2025, which was titled The Art of Delegation. We talk through why practice owners get stuck on delegation, ways to think about becoming more comfortable delegating, the true cost of NOT delegating, and some NBSs for you to think about around this very important topic. As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. Lastly, if you’re interested in learning more about the 20/20 Money Financial Success Masterclass, a course & platform that we created to help ODs become “brilliant at the financial basics,” please check out the link in the show notes of this episode to learn more. And with that introduction, I hope you enjoy my conversation with Dr. Ted McElroy, OD. Resources: 20/20 Money Membership Information ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!…

20/20 MONEY

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The difference between saving vs deferring taxes 47:56

13 weeks ago47:56

47:56

In this episode, we break down the common misconception that tax deferral is the same as tax savings—spoiler alert: it’s not. We discuss how strategies like funding retirement plans, loss harvesting, and depreciation only push taxes into the future, while true tax savings come from tools like QCDs, business deductions, and Roth account growth. We explore when deferring taxes makes sense, and when it might actually cost you more in the long run. As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. Lastly, if you’re interested in learning more about the 20/20 Money Financial Success Masterclass, a course & platform that we created to help ODs become “brilliant at the financial basics,” please check out the link in the show notes of this episode to learn more. Resources: 20/20 Money Membership Information OD Masterminds Information Request The Augusta Rule 20/20 Money Episode #319 – Year-End Tax Planning Concepts & Strategies to Minimize Tax Stress with JR Armstrong, CPA ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!…

20/20 MONEY

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How practices can benefit using fractional services like a CMO with Daniel Palmer 45:36

14 weeks ago45:36

45:36

Welcome to this episode of 20/20 Money! My guest on today’s show is Daniel Palmer. Daniel joins me back on the show to talk through a growing service and role in small businesses (optometry included), which is the Fractional C*O service. I use the * to depict the fact that this role could be Chief Operating, Marketing, Information/Technology, and yes Financial Officer. We talk about the differences between a consultant and a fractional C*O and how to think about each of those roles in your organization, how a practice can think about if & when they're ready to add that relationship to their leadership team, and the value that this role should be providing in an organization. As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. Lastly, if you’re interested in learning more about the 20/20 Money Financial Success Masterclass, a course & platform that we created to help ODs become “brilliant at the financial basics,” please check out the link in the show notes of this episode to learn more. And with that introduction, I hope you enjoy my conversation with Daniel Palmer. Resources: 20/20 Money Masterclass Information ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!…

20/20 MONEY

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Making good decisions (and avoiding costly mistakes) when purchasing optometry equipment w/ Rick Norwood 47:30

15 weeks ago47:30

47:30

Welcome to this episode of 20/20 Money! My guest on today’s show is Rick Norwood, founder & President of Norwood Device & Diagnostics. Rick joins me on the show to talk through an often-discussed topic in practice ownership, and that is the responsible purchasing of equipment. We talk through how practice owners should evaluate various suppliers, the cadence and frequency of replacing and upgrading your equipment, and how to avoid purchasing "buyer's remorse" through the process. As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. Lastly, if you’re interested in learning more about the 20/20 Money Financial Success Masterclass, a course & platform that we created to help ODs become “brilliant at the financial basics,” please check out the link in the show notes of this episode to learn more. And with that introduction, I hope you enjoy my conversation with Rick Norwood. Resources: 20/20 Money Masterclass Information Norwood Device & Diagnostics ————————————————————————————— 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!…

20/20 MONEY

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Edging in-house vs outsourcing: the economics, trade-offs, and data an optometric practice needs to measure with Drs. Jennifer Stewart, OD & Sam Hornberger, OD 1:14:43

16 weeks ago1:14:43

1:14:43

Welcome to this episode of 20/20 Money! My guests on today’s show are Drs. Jennifer Stewart & Sam Hornberger, both private practice owners in their respective practices. Sam and Jennifer join me on the show to talk about a topic that admittedly, in over 300 episodes of 20/20 Money, I haven't talked about yet: edging and the decisions around whether to bring edging in-house or continue to outsource it to your lab. We talk through how each of them made the decision to bring edging in-house—Sam making the decision after years of outsourcing it to a lab and Jennifer making the decision within the first year of launching her cold start practice. They give a peek behind the curtains on how vision plans influence the decision, the specific edgers each of them have in their practice, the economic benefits they've experienced, and how they use it as a unique differentiator and value-add to their respective patient bases. As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. If you’re interested in learning more about the 20/20 Money Financial Success Masterclass, a course & platform that we created to help ODs become “brilliant at the financial basics,” please check out the link in the show notes of this episode to learn more. And with that introduction, I hope you enjoy my conversation with Drs. Sam Hornberger & Jennifer Stewart, OD. OD Masterminds™ Information Request Resources: 20/20 Money Membership Information Episode #256: Successful Implementation of VT in your practice with Dr. Heidi Bell OVDRA Cherry Financing Emergent VT Training Platform for Vision Therapists ————————————————————————————— 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!…

20/20 MONEY

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Providing vision therapy profitably and passionately with Dr. Leigha Nielsen, OD 1:02:20

17 weeks ago1:02:20

1:02:20

Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Leigha Nielson, OD FOVDR, founder of High 5 Vision Development in New Braunfels, TX. Leigha joins me on the show to talk about how she's created both a successful practice and a life she loves—personally and professionally—through a vision-therapy focused practice. She talks about her journey as a practice owner under the TSO (Texas State Optical) brand and how she transitioned to her own stand-alone practice and why she made the commitment to to change. She also shares the details about the operations of her practice—from the pricing discount she provides to patients that pay all in full to how she thinks about leverage and return-on-investment with the team that supports the care provided to patients, Leigha is very transparent about how she's made her practice profitable while also not compromising her passion for vision therapy. As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. If you’re interested in learning more about the 20/20 Money Financial Success Masterclass, a course & platform that we created to help ODs become “brilliant at the financial basics,” please check out the link in the show notes of this episode to learn more. And with that introduction, I hope you enjoy my conversation with Dr. Leigha Nielsen, OD, FOVDR. OD Masterminds™ Information Request Resources: 20/20 Money Membership Information Episode #256: Successful Implementation of VT in your practice with Dr. Heidi Bell OVDRA Cherry Financing Emergent VT Training Platform for Vision Therapists ————————————————————————————— 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!…

20/20 MONEY

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Think differently about "admin days" in your practice --my guest appearance on "Eye Own a Business" with Dr. Steve Vargo, OD 51:53

18 weeks ago51:53

51:53

Welcome to this episode of 20/20 Money! This week's episode is my guest appearance on Dr. Steve Vargo's show "Eye Own a Business," produced by IDOC. Steve had me on the show to talk about something that I've been thinking about for some time, and I used his show to "stake my claim"—I don't like term "admin day" and want to see the profession start embracing a different way of thinking about the work that owners do ON the business. I share my beliefs and reasoning behind this and why I feel it behooves owners to start thinking differently about their role in their practice. As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. Lastly, if you’re interested in learning more about the 20/20 Money Financial Success Masterclass, a course & platform that we created to help ODs become “brilliant at the financial basics,” please check out the link in the show notes of this episode to learn more. And with that introduction, I hope you enjoy my conversation with Steve Vargo. Resources: 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!…

20/20 MONEY

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Ideas & strategies on ways to pay your team more without compromising profit with Jackson Pace, CPA 53:16

19 weeks ago53:16

53:16

Welcome to this episode of 20/20 Money! My guest on today’s show is Jackson Pace, CPA. Jackson joins me on the show to talk about ways owners can maximize the ROI on their team, specifically non-OD team members. He shares examples of ways in which practice owners have brought focus and intention to different areas of the practice, how practice owners can empower their team to take ownership of an incentive program, and examples of a couple of different "dark corners" of the practice that can benefit from some attention. As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. Lastly, if you’re interested in learning more about the 20/20 Money Financial Success Masterclass, a course & platform that we created to help ODs become “brilliant at the financial basics,” please check out the link in the show notes of this episode to learn more. And with that introduction, I hope you enjoy my conversation with Jackson Pace, CPA. Resources: 20/20 Money Membership Information Refractional CFO ————————————————————————————— 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!…

20/20 MONEY

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Stop Jonesin’…measure your success against your own purpose, not someone else’s with Dr. Steve Vargo, OD 49:10

20 weeks ago49:10

49:10

Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Steve Vargo, OD. In addition to being a practice management consultant with IDOC , Steve is also the host of the podcast " Eye Own a Business " a show with episodes aimed to help independent ODs grow a thriving practice while wearing the hats of both OD and business owner. In this episode Steve and I talk about the importance of staying true to your vision and passion in practice ownership. We talk about how easily owners can get distracted by what other owners are doing and think that they have to compare and keep up to what others are doing instead of staying true to the vision and mission they set out on when they got into ownership. As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. Lastly, if you’re interested in learning more about the 20/20 Money Financial Success Masterclass, a course & platform that we created to help ODs become “brilliant at the financial basics,” please check out the link in the show notes of this episode to learn more. And with that introduction, I hope you enjoy my conversation with Dr. Steve Vargo, OD. Resources: 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!…

20/20 MONEY

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How to increase the multiplier in your practice value with Nathan Hayes 1:00:50

21 weeks ago1:00:50

1:00:50

Welcome to this episode of 20/20 Money! My guest on today’s show is Nathan Hayes with IDOC & Books & Benchmarks. Nathan and I spend time discussing a topic that was briefly brought up on our last conversation ( here's the link to that discussion ) which is the importance of understanding the relationship between multiples and the risk associated with ownership. Said differently, we bring clarity to the math on why it's less risky for a buyer of a practice to write a bigger check for a larger practice that commands a higher multiple when compared to buying a lower valued/lower multiple "fixer upper" practice. I believe this conversation is valuable both buyers and sellers of 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 monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. If you’re interested in learning more about the 20/20 Money Financial Success Masterclass, a course & platform that we created to help ODs become “brilliant at the financial basics,” please check out the link in the show notes of this episode to learn more. Lastly, if you're interested in learning more about OD Masterminds™, an exclusive program we created to help ODs leverage collective knowledge & collaboration to achieve extraordinary results personally and professionally, the link to the application is in the show notes. And with that introduction, I hope you enjoy my conversation with Nathan Hayes. Resources: 20/20 Money Membership Information How To Buy an Optometry Practice Practice Owner's Financial Toolkit Books & Benchmarks ————————————————————————————— 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!…

20/20 MONEY

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How direct index portfolio construction can offset taxes on a practice sale with Peter Lazaroff, CFA, CFP®, 50:59

22 weeks ago50:59

50:59

Welcome to this episode of 20/20 Money! My guest on today’s show is Peter Lazaroff, CFA, CFP® , Chief Investment Officer at Plancorp , host of The Long Term Investor podcast , and the author of the book Making Money Simple . Peter joins me on the show to talk about an investment approach that has been around for a long time but is starting to become more prevalent for investors: direct indexing. We talk about what direct indexing is through an abridged story on the evolution of investment vehicles for investors, some of the considerations and tradeoffs, how a direct indexing approach can minimize a practice owner's tax bill in the year that they sell their practice, and why an index investor should be, at the very least, doing their own due diligence on a direct indexing advisory firm & manager to complement their already-sound investment philosophy. As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. Lastly, if you’re interested in learning more about the 20/20 Money Ultimate Financial Masterclass, a course that we created to help ODs become “brilliant at the financial basics,” please check out the link in the show notes of this episode to learn more. And with that introduction, I hope you enjoy my conversation with Peter Lazaroff, CFA, CFP®. Resources: 20/20 Money Masterclass Information Get a FREE copy of Peter's Book!! Single-stock volatility & equity market returns - JP Morgan Guide to the Markets S&P 500: Index Concentration & Valuations - JP Morgan Guide to the Markets Magnificent 7 Performance & Earnings Dynamics - JP Morgan Guide to the Markets ————————————————————————————— 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!…

20/20 MONEY

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Ten habits for success, growth, & achievement in 2025 (and beyond!) 53:04

23 weeks ago53:04

53:04

Welcome to the first episode of 2025! In this episode, I take a bit of a trip down memory lane as I recently came across a list that I wrote 10+ years ago. Re-reading it, I thought it would be a great way to kick off the new year and give optometrists & practice owners some principles and habits that can guide and shape how they plan & live their life, on purpose. As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. Lastly, if you’re interested in learning more about the 20/20 Money Financial Success Masterclass, a course & platform that we created to help ODs become “brilliant at the financial basics,” please check out the link in the show notes of this episode to learn more. Resources: Plan Your Year: An Introduction to Free, Focus, and Buffer Days 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!…

20/20 MONEY

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(Rewind) - I'm giving you an episode "break" (but I think it's still worth a listen) 28:41

24 weeks ago28:41

28:41

As we set up for the beginning of yet another year, I wanted to bring back an episode that I released earlier in the year. I think the timing of replaying this episode is good as it's being released during a very busy time of year and also while you're likely thinking through how you want to set yourself up for success in 2025. All the best to you and your family during the holiday season! In the spirit of managing information overload, I wanted to take a week to pause on new information and rather share a process or organizing and prioritizing your thoughts, goals, and actions that can often stem from listening to shows like 20/20 Money and the consumption of other content. Resources: 20/20 Money Membership Information reMarkable 2 Tablet ————————————————————————————— 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!…

20/20 MONEY

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(Rewind) Forget goal-setting & focus on purpose: a mindset conversation with Stephanie Bogan 1:25:03

25 weeks ago1:25:03

1:25:03

Welcome to this episode rewind of 20/20 Money! In keeping with tradition, I'm bringing back this episode again, just like I did last year, for one of the last episodes of 2024!! Given that this is the last episode of the year, this is usually when we are thinking about goal setting, and everyone’s schedule is anything but normal being the day after Christmas, I wanted to bring back the conversation that I had with my friend, business collaborator, and advisor coach Stephanie Bogan from early 2022. I’ll share some info about Steph here shortly in the intro and then close out this introduction with some personal thoughts and reflections. While Stephanie has built and sold a number of businesses in her career, most recently she is the founder of Limitless Adviser, a coaching program where she empowers financial advisors to create and build wildly successful practices and a life that they love. This was a special conversation for me as I’m also privileged to be involved in that program—first as an advisor that was being coached by Stephanie and now currently serving as an advisor coach, where I help coach and empower other advisors to work intentionally on their practices by applying the mindset and methods that Stephanie teaches in the curriculum and that I’ve learned over the years as well. In this conversation we talk about something that tends to be popular around this time of year: goal setting. However, we talk about it from a bit of a different angle, which is first spending time focusing on your purpose and intention for building what you’re building and how money plays a role in that plan. We talk about it from two angles: the first being the practice owner that’s at the tail end of their career and facing an inevitable transition from their practice and also from the lens of a younger practice owner that has many years in front of them. We talk about some of the “sacred cows” that exist in practice ownership, why some of them should be questioned, and how to think about solving those problems. We wrap up with Stephanie’s very powerful answer to the one question that I ask every first-time guest on 20/20 Money. As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the 20/20 Money Ultimate Financial Masterclass, a course that we created to help ODs become “brilliant at the financial basics,” please check out the link in the show notes of this episode to learn more. Now over 300 episodes into 20/20 Money, this show has continued to grow and develop into something bigger than I thought it would have and I’m eternally grateful for everyone that’s been involved in the show. To all my guests that have given their time to come on the show and share their perspective, experience, and expertise—thank you. To my producer Kyle— yet another thank you for all your help with the show. From getting it initially set up in 2018 to handling everything with the show after I’ve finished recording an episode…I appreciate all that you do for the show. And lastly, to you, the listener of the show. Whether this is your first episode, or you’ve listened to dozens (or even hundreds!) of them, I’m sincerely grateful for the intimate, albeit asynchronous relationship that we’ve been able to have. My goal is to have positive impact at scale in the optometric community and help practice owners make educated and informed decisions with their money and this podcast has allowed me to have a platform to share not only my knowledge and experience but also the experience of the guests that I’ve had on the show. I have always tried to keep the show as objective and unbiased as possible. I’ve never taking a dollar of sponsorship money, no guest has ever paid to be on the show, nor have I ever paid a guest to be on the show. This podcast is organic and authentic, and your continued support through listening and sharing the show is something that I’m both humbled and grateful for and I look forward to another great year in 2025!! Resources: OD Masterminds Application 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!…

20/20 MONEY

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Year-end tax planning concepts & strategies to minimize tax stress with JR Armstrong, CPA 55:33

26 weeks ago55:33

55:33

Welcome back to another episode of 20/20 Money. My guest on today's show is JR Armstrong, CPA and a partner at May & Co , a CPA firm dedicated to serving optometric practice owners nationwide. JR joins me back on the show for a year-end tax planning episode. We talk about the importance of taking a multi-year approach when evaluating your depreciation strategy on equipment, how inventory influences year-end tax planning, how to "penalty proof" your personal tax return, and other important tax concepts practice owners should be thinking about and discussing with their advisory team. As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. If you’re interested in learning more about the 20/20 Money Financial Success Masterclass, a course & platform that we created to help ODs become “brilliant at the financial basics,” please check out the link in the show notes of this episode to learn more. Resources: OD Masterminds Application 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!…

20/20 MONEY

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Why I feel ODs and Dave Ramsey don’t mix... 47:55

27 weeks ago47:55

47:55

Today's episode talks about how I think about Dave Ramsey's baby steps towards financial independence as it pertains to optometrists. I share where I think the baby steps are great to follow and I also share some iterations on the baby steps that I believe are more relevant and applicable to ODs, specifically with regards to the journey as a 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 monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. Lastly, if you’re interested in learning more about the 20/20 Money Membership, a platform that we created to help ODs become “brilliant at the financial basics,” please check out the link in the show notes of this episode to learn more. Links & Resources: 20/20 Money Membership Information Dave Ramsey's Baby Steps Holland Student Loan Debt Episode #1 Holland Student Loan Debt Episode #2 (Re) thinking your investment asset allocation as a practice owner ————————————————————————————— 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!…

20/20 MONEY

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The emotional & decision making journey of selling one's practice with Ashby Daniels, CFP® 53:25

28 weeks ago53:25

53:25

Welcome to this episode of 20/20 Money! My guest on today’s show is my friend Ashby Daniels, CFP® and we have what I think is a very engaging and revealing conversation about the emotional and mental journey a business owner goes through when considering a sale of their business. We talk about getting over the fear of selling, how to think about regrets, the alternatives to selling, the importance of having something to retire to, and the surprising truth about what it feels like when the check from the sale of your business hits your bank account. I really enjoyed this conversation and I trust you will as well, especially if you are a practice owner that has considered selling (or know, deep down, that you should be thinking about selling, if for no other reason than you’d like to enjoy the next chapter of life post-practice ownership). As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. Lastly, if you’re interested in learning more about the 20/20 Money Membership, a platform that we created to help ODs become “brilliant at the financial basics,” please check out the link in the show notes of this episode to learn more. And with that introduction, I hope you enjoy my conversation with Ashby Daniels. Resources: 20/20 Money Membership Information 20/20 Money Episode #284 – Dr. Jennifer Stewart’s “tepid” start optometry practice: the power of vision & intentionality, the importance of an ideal patient avatar, and reconciling business risk with a conservative personality My first conversation with Ashby Tim Ferriss Fear Setting Exercise Inside the Contrarian Mind of Sam Zell ————————————————————————————— 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!…

20/20 MONEY

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Truly embracing "comprehensive care" with your patients: Part 2 conversation with Dr. Chris Wolfe, OD 31:34

29 weeks ago31:34