20/20 MONEY

On this episode of 20/20 Money! My guest on today’s show is…me! This is a different solo episode of sorts, because it’s actually the interview that I did for IDOC’s Focal Point Podcast, hosted by Dr. Steve Vargo, OD. If you’re interested in subscribing to Focal Point Podcast, the link is in the show notes of this episode. On this episode, Steve asked me to talk about how business and personal planning are integrated and why it’s important to understand and be able to answer the question “In service of what?” and “What are you solving for?” when structuring your practice. We also talk about a very impactful tax planning strategy that can potentially save and/or defer practice owners tens if not hundreds of thousands of dollars in taxes in the year they sell their practice and the timeline to be aware of if you consider this strategy. 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 Steve Vargo. 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 Nathan Hayes of IDOC. Nathan joins us to talk about something that is oftentimes discussed towards the end of the year and the beginning of the next year: budgeting, specifically budgeting your business expenses. Even though this show isn’t coming out until the spring, it’s still worthwhile to discuss, because as you’ll see throughout the conversation, it’s not just something that happens once a year. In our conversation, we talk about what your target revenue growth should be per year (hint, it’s not a percentage), why your budget already exists and therefore why it’s actually hard to budget, how you should rethink the way you budget, how to assess when to spend money and how much to spend, financing vs paying cash for capital investments into the practice, a list of areas in your practice that you should be auditing, and 2 items that you absolutely must budget for on an annual basis. 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 Nathan Hayes. Follow us on Instagram: https://www.instagram.com/2020moneypod/  ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!

On this episode of 20/20 Money, I share one example of why it’s important to ensure that your portfolio has a well-rounded asset allocation and the importance of including all different asset classes in your portfolio—not just the most popular and well-known indices like the S&P 500 (and I’ll share some actual numbers to substantiate this thought 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, 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. Callan Chart 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 Dr. Steve Vargo. Steve joins me on the show to discuss a challenge and stepping stone that practice owners may eventually find themselves reaching: how to step out of their business and delegate leadership-type tasks and responsibilities to someone else on your team. Steve’s experience not only as a practicing OD but also as a leadership consultant for IDOC gives him a very informed and well-rounded perspective on this challenge. He’s a student of leadership develop and also an author on the topic (links below). In this conversation, Steve and I talk about how to think about the process of removing yourself from the “messy middle” of practice ownership. Steve shares 5 areas that impact leadership at the practice level, we talk about why it’s important to think about developing your team instead of training them, the three P’s that make up any organization, and the quick test you can do to determine if you’re the best person for the task at hand.   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. Steve Vargo. 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!

Dr. Wesley is back on the show to talk about a topic that I think might seem taboo to ODs out there, and that topic is around sales. Gina talks about her journey on how she got comfortable selling from the chair and you’ll very quickly hear in our conversation how and why it doesn’t even seem like sales…which is the point altogether! We talk about why sales get a negative connotation, how you might reframe the type of conversations you have with patients, how to work with your team to embrace the same structure of patient conversations, and the impact that it can have on your practice. As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, 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. Gina Wesley. Gina’s OTOTW Article Loom Good to Great 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 I talk about a new way to think about asset allocation and diversification as a practice owner and how a twist on the concept of asset location can have a significant impact on the overall value of your retirement 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, 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 providing feedback on today’s topic or having a question and featured on a future “mailbag” episode of 20/20 Money, 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. 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 solo episode of 20/20 Money I will be explaining the process of gifting of assets to your children, strategies to employ including an UTMA account, and the impact those gifts will have on you, both now and 5-10 years down the road. 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. 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 another episode of 20/20 Money! My guests on today’s show are Dr. Gina Wesley and Nathan Hayes. Gina owns her very successful private practice in Medina, MN and Nathan is the practice finance consultant with IDOC, and I’m really excited for this conversation for multiple different reasons. Today’s show is taking on the format of a case study. Specifically, the subject of today’s show is actually based on a potential relationship that reached out to our firm back in 2020. I’ll spend the first part of the episode sharing the anonymous details about this practice. From there, Nathan, Gina, and I engage in a great conversation, providing real-time, practical suggestions and ideas on how this practice owner can improve the profitability and thus the take-home income from the practice. If you find yourself resonating with the practice that we discuss today and are starting to realize that you may be more in need of a practice management consultant instead of a comprehensive financial planning firm that specializes in serving optometrists, I can’t recommend Nathan and the team at IDOC highly enough as they’ve done a lot of great work over the years and have a wealth of knowledge in helping optometrists manage and grow their practice. Their work complements the work that we do as wealth advisors very well and it’s been a pleasure and privilege to collaborate together over the years. 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. Gina Wesley and Nathan Hayes. Emyth Revisited. 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  —————————————————————————————

On this episode of 20/20 Money, my guest on today’s show is Dr. Jeremy Ciano, owner and founder of RevolutionEyes in Carmel, IN. Jeremy’s been on the show in the past and episode #11 of 20/20 Money (back when it was called “The Dose”) is still in the top 10 most downloaded episodes (link below). Jeremy joins us back on the show to talk about how his practice not only survived, but ended up thriving in 2020. Jeremy talks about how important culture was to him and his team, the strategies that they executed to meet patients where they were (in more ways than one) during the pandemic, and how he’s thinking about strategic business decisions for 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, 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. Jeremy Ciano. Steven Covey Growing at the Speed of Trust 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 my good friend Josh Bannerman, (a.k.a. the “OG” from the Stacking Benjamins podcast). Josh and I were talking the other night about the craziness that is going on in the markets recently. I got to thinking (after the conversation) that what we were just talking about would have made for a great episode for 20/20 Money. So, as good content creators do, Josh agreed to come on the show so that we could both talk about it and give you our perspectives. We start out by giving a brief backstory on what’s caused the trading frenzy with GME and AMC, how to think about it as an investor, and how to put it all into perspective. Josh also shares an unfortunately very sad story about how a close friend of his (not me!) ended up with significant losses as a result of some very risky bets in the market…and what lessons we can learn from it. As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, 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 other blog posts. And with that introduction, I hope you enjoy my lively conversation with my good friend, the OG! 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!