20/20 MONEY

Welcome to 20/20 Money! My guest on today’s show is Dr. Aaron Neufeld, OD and this is Part 2 of our 2-part conversation. As mentioned in the first episode, Aaron wears many hats in the optometry space. He’s the owner of Los Altos Optometric Group, co-founder of ODs on Finance, the author of many optometry articles, co-author of The Optometrist’s Guide to Financial Freedom, and speaks at optometry events around the country. In Part 2, we really dive into the topic of investing. We talk about the difference between trading and investing, the gamification of investing and trading and the perils to be aware of with these platforms, a slight digression down the cryptocurrency path, Aaron’s approach to asset allocation and diversification, and we discuss how the role of owning a practice can influence how you diversify and allocate your other “traditional” investments of stocks and bonds. 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, you can subscribe to our newsletter or set up a 20-30min Triage conversation to learn a little bit more about how we help ODs around the country reduce their tax bill, manage cash flow, and make proactive money decisions or check out any number of additional free resources like our eBooks and on-demand webinars. And with that introduction, I hope you enjoy my conversation with Dr. Aaron Neufeld, OD.

Welcome to 20/20 Money! My guest on today’s show is Dr. Aaron Neufeld, OD and this is Part 1 of a 2-part conversation. Aaron wears many hats in the optometry space. He’s the owner of Los Altos Optometric Group, co-founder of ODs on Finance, the author of many optometry articles, co-author of The Optometrist’s Guide to Financial Freedom, and speaks at optometry events around the country. I wanted to have Aaron on the show to both share the information and community that he’s created in the optometry community as well as get his perspective on investing and private 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, you can also set up a 20-30min Triage conversation to learn a little bit more about how we help ODs around the country reduce their tax bill, manage cash flow, and make proactive money decisions or check out any number of additional free resources like our eBooks and on-demand webinars. And with that introduction, I hope you enjoy my conversation with Dr. Aaron Neufeld, OD. ————————————————————————————— 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!

On this episode of 20/20 Money! My guest on today’s show is Dr. Ted McElroy. Ted joins us back on the show to talk about an albeit abstract concept that may not seem like it has direct financial implications: constraints in our lives and how we deal with them. We tag team this topic as we cover the concept of constraints from the personal, professional, and financial point of view…and how we’ve both used them and learned from them to grow in the three areas previously mentioned. 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, you can also set up a 20-30min Triage conversation to learn a little bit more about how we help ODs around the country reduce their tax bill, manage cash flow, and make proactive money decisions or check out any number of additional free resources like our eBooks and on-demand webinars. And with that introduction, I hope you enjoy my conversation with Dr. Ted McElroy. Eyecode Media Podcast Jocko “Good” Video SECO 2021 Email Ted ————————————————————————————— 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!

Hello 20/20 Money community, welcome to a “holiday week repeat.” Given that this episode is coming out on Memorial Day, I wanted to hold off on releasing a new episode and bring back a recent episode that seems to have struck a nerve with practice owners, and that’s the importance of practice owners “defining your number.” I had this conversation with Nathan Hayes from IDOC. We’re defining “your number” as the amount of money that one should be saving to build towards financial independence. We talk about why banking on the sale of your practice usually leaves practice owners coming up short. We talk about the other side of that equation and how empowering it can be to know your number and thus be more convicted in the sale price you need to earn when you sell your practice. Nathan also allows me to indulge in a (somewhat) long-winded metaphor that connects flying, sailing, and retirement planning all into one story. 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, you can also set up a 20-30min Triage conversation to learn a little bit more about how we help ODs around the country use their practice as a wealth building vehicle, manage cash flow, align purpose with action, and make proactive money decisions. And with that introduction, I hope you enjoy this holiday repeat conversation with Nathan Hayes, I hope you have/had an enjoyable Memorial Day holiday weekend, and I appreciate your support of the show. Related episodes: Four Levers in retirement Cash balance plans with Karl Willman of Nyhart ————————————————————————————— 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!

On this episode of 20/20 Money! My guest on today’s show is Dr. Rich Zimbalist. Rich (who’s been on the show in the past) is a practicing OD with the VA in Columbia, Missouri and has turned his passion of website design into a business of helping optometrists around the country grow their practice through website design search engine strategies. I’ll admit this episode is a bit unorthodox as we turned the topic of organic search engine optimization (SEO) into an audible case study. We did this by having me play the part of a patient looking for a new eyecare provider and quite literally giving the audible play-by-play of not only the results that I was seeing in front of me, but what strategies you as a practice owner can execute on your own website so that new patients in your area find you the way that I found the ECPs that were coming up in my search. 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, you can also set up a 20-30min Triage conversation to learn a little bit more about how we help ODs around the country reduce their tax bill, manage cash flow, and make proactive money decisions or check out any number of additional free resources like our eBooks and on-demand webinars. And with that introduction, I hope you enjoy my conversation with Rich Zimbalist. Weave (3rd party review software) How Revolutioneyes looks from a Google search perspective RevolutionEYES website ————————————————————————————— 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!

On this episode of 20/20 Money! My guests on today’s show are Drs. Eric Baas and Bob Steinmetz, co-founders of iCare Advisors. If you missed last week’s interview or this is your first time checking out 20/20 Money, please go back and check out last week’s interview. You don’t need to listen to that one first to gain value from the rest of our conversation, but you’ll definitely want to go back and give that a listen as there was a lot of great information. As I mentioned in the intro last week, we continue the conversation today by discussing the runway to profitability and how they think about the return on investment in equipment in a cold start, how you grow into the next “chapter” of the practice’s life cycle, why a 2nd location might be better than expansion of your existing location, staffing and scheduling best practices, their outlook on cold starts and private equity’s influence on the success of cold starts, and we wrap it up with their insightful answers to the one question I ask every first-time guest of 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, you can also set up a 20-30min Triage conversation to learn a little bit more about how we help ODs around the country reduce their tax bill, manage cash flow, and make proactive money decisions or check out any number of additional free resources like our eBooks and on-demand webinars. And with that introduction, I hope you enjoy the rest of my conversation with Eric Baas and Bob Steinmetz. ————————————————————————————— 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!

On this episode of 20/20 Money! My guests on today’s show are Drs. Eric Baas and Bob Steinmetz, co-founders of iCare Advisors. iCare Advisors consults with ODs all around the country and their specific area of expertise is helping ODs navigate the decision making matrix and analysis behind opening a cold start practice. This wide ranging conversation was so deep and so long that I actually wanted to break it up into two episodes. In part 1, Eric and Bob talk about how important it is to “start with why” when considering a cold start and the importance of having a mission and vision statement guide the process of opening your practice. We talk about the importance of having goals, taking the time to grow into your practice, and the importance of involving your spouse in the decision making process as well. We spend the rest of the time talking about one of the most important factors that plays into any cold start: location and occupancy cost. In part two (next week), we continue the discussion by discussing the runway to profitability and how they think about the return on investment in equipment in a cold start, how you grow into the next “chapter” of the practice’s life cycle, why a 2nd location might be better than expansion of your existing location, staffing and scheduling best practices, their outlook on cold starts and private equity’s influence on the success of cold starts, and we wrap it up with their insightful answers to the one question I ask every first-time guest of 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, you can also set up a 20-30min Triage conversation to learn a little bit more about how we help ODs around the country reduce their tax bill, manage cash flow, and make proactive money decisions or check out any number of additional free resources like our eBooks and on-demand webinars. And with that introduction, I hope you enjoy my conversation with Eric Baas and Bob Steinmetz. ————————————————————————————— 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!

It’s tax season, which means that we’re spending a fair amount of planning energy reviewing clients’ tax returns to ensure that strategies that we’re discussing and implementing with clients are proactively and properly reported on their tax returns. However, sometimes lines of communication get crossed or DIY tax preparers overlook how strategies should be reported on your personal and business tax return. In this episode, I’ll share 4 places on your tax return that you should review to ensure that you’re not over-paying your taxes. 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, you can also set up a 20-30min Triage conversation to learn a little bit more about how we help ODs around the country reduce their tax bill, manage cash flow, and make proactive money decisions or check out any number of additional free resources like our eBooks and on-demand webinars. If you’re interested in having your question and your voice featured on the 20/20 Money podcast, you can submit it here. You can either include your name or submit anonymously. Please keep your questions short and to the point. Sometimes writing it down beforehand can help. ————————————————————————————— 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!

On this episode of 20/20 Money! My guest on today’s show is Dr. Chris Wolfe. Chris joins the show to talk about a topic that can directly impact the profitability of a practice, and that’s around the introduction of managed care into an optometry practice. Whether you’re a seasoned OD that has been providing managed care for your patients for years or you’re an OD that has intentionally stayed away from the “managed care” sandbox, I really believe you’ll enjoy this conversation. Chris talks about the ways in which ODs can start “dipping their toes” into managed care, how to think about your schedule and potential operational efficiencies to increase revenue on the same number of doctor hours, how to reframe your thinking when patients inform you that they have a high deductible health care plan, and why it’s so critically important that you revisit your negotiated fee schedule with your various payors and how you can benchmark that to determine if you’re getting a fair reimbursement. All of the information talked about in today’s conversation can directly impact not only your top line but also bottom-line profit, so I hope you enjoy listening as much as I enjoyed interviewing Chris. 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, you can also set up a 20-30min Triage conversation to learn a little bit more about how we help ODs around the country reduce their tax bill, manage cash flow, and wisely invest their portfolios or check out any number of additional free resources like our eBooks and on-demand webinars. And with that introduction, I hope you enjoy my conversation with Dr. Chris Wolfe. EyeCode Education Episode 81: The Benefits and Strategy to Adding Dry Eye Tx to Your Practice with Dr. Damon Dierker, OD 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!

On this episode of 20/20 Money! My guest on today’s show is Jordan Clarke. Jordan is one of the Vice Presidents of Charles M. Moore Insurance just outside of Bowling Green, KY and has an extensive career in in the insurance profession. I asked Jordan to come on the show to talk about a daunting and obscure task that the health insurance companies have seemed to obfuscate for business owners and that’s the topic of selecting group health insurance plans for themselves and their team members. In this conversation we talk about the 3 different options that exist for practice owners, the breakdowns in cost and flexibility in cost sharing, how spousal carveouts work, “middle ground” options for practice owners that don’t want to insure on the individual marketplace but also don’t want to carry full group coverage, the difference between PPO and HMO plans from your perspective as the practice owner, and a couple of examples on why it could be expensive to do this all on your own. As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, you can also set up a 20-30min Triage conversation to learn a little bit more about how we help ODs around the country reduce their tax bill, manage cash flow, and make proactive money decisions or check out any number of additional free resources like our eBooks and on-demand webinars. And lastly, your HSA contributions that you can make in the year in which you turn 65 are pro-rata. For example, if someone turned 65 on May 5th and was electing Medicare, their eligibility date is May 1st, which means that they could contribute 4/12 (Jan, Feb, March, and April) the annual maximum HSA amount in the year in which they turn 65. I promise this will make sense towards the end of this show. And with that introduction, I hope you enjoy my conversation with Jordan Clarke. https://cmmoore.com/  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!