20/20 MONEY

Welcome to this episode of 20/20 Money! As we approach the end of the year, I thought it would be appropriate to share with you the 5 books I think all OD practice owners should read in 2023, and why I believe they will have a valuable impact on your business.  As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our newsletter and you can also set up a 30min Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you! Resources 1. Turning the Flywheel: A Monograph to Accompany Good to Great 2. Who Not How: The Formula to Achieve Bigger Goals Through Accelerating Teamwork   3. Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones   4. Simple Numbers, Straight Talk, Big Profits!: 4 Keys to Unlock Your Business Potential   5. Simple Wealth, Inevitable Wealth: How You and Your Financial Advisor Can Grow Your Fortune in Stock Mutual Funds   https://jamesclear.com/  https://eyethrive.net/contributor/adam-cmejla/  ————————————————————————————— 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 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!