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 t...
Jun 21, 2021•34 min•Ep. 137
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 opt...
Jun 14, 2021•30 min•Ep. 136
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, y...
Jun 07, 2021•57 min•Ep. 135
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 ...
May 31, 2021•37 min•Ep. 134
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 b...
May 24, 2021•53 min•Ep. 133
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...
May 17, 2021•45 min•Ep. 132
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 ...
May 10, 2021•44 min•Ep. 131
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 ...
May 03, 2021•28 min•Ep. 130
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 abou...
Apr 26, 2021•1 hr 8 min•Ep. 129
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 t...
Apr 19, 2021•58 min•Ep. 128
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 ser...
Apr 12, 2021•38 min•Ep. 127
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...
Apr 05, 2021•1 hr 1 min•Ep. 126
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 clickin...
Mar 29, 2021•35 min•Ep. 125
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...
Mar 22, 2021•58 min•Ep. 124
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 th...
Mar 15, 2021•52 min•Ep. 123
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...
Mar 08, 2021•25 min•Ep. 122
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 ...
Feb 22, 2021•45 min•Ep. 120
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 t...
Feb 15, 2021•1 hr 15 min•Ep. 119
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 the...
Feb 08, 2021•47 min•Ep. 118
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 p...
Feb 01, 2021•54 min•Ep. 117
Jennifer runs a very successful private practice and also a successful sports vision practice in Connecticut. Long-time listeners will know that Jennifer’s been on the show in the past and I was excited to have her back to talk through how she thinks about the KPIs (key performance indicators) of her practice, specifically around how they’ve increased their capture rate and second pair sales. In today’s conversation we talk about how she’s created a culture with her team to always strive for bet...
Jan 25, 2021•58 min•Ep. 116
On this episode of 20/20 Money! My guest on today’s show is Dr. Chris Lopez, OD . Contrary to what you might believe, picking the right investment is not your greatest wealth creating tool. It’s your income! Make sure that you know how to negotiate the right way and land the right job while also ensuring that it’s a win for the owner of the practice. In this conversation, practicing OD and career and contract consultant Dr. Chris Lopez talks to us about how both associates and owners should thin...
Jan 18, 2021•1 hr 3 min•Ep. 115
Welcome to the first episode of 2020 Money in 2021! On this episode, I’m going to share with you how I’ve implemented Strategic Coach’s Entrepreneurial Time Management System and how I believe ODs can also benefit from this time management system, including how to think about the financials of your practice based on how you’ve budgeted your time throughout the year. As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and c...
Jan 11, 2021•38 min•Ep. 114
On this episode, I talk with Dr. Ted McElroy. Ted has owned his practice for the last 27 years and is also a Vision Source Administrator for the southern part of GA and north-central part of FL. In today’s episode, we use one of our clients as a case study that kicked off the process of hiring an associate in your practice—and hiring an associate that STAYS in your practice. Ted shares with us how he identifies and interviews associates in his practice, great questions to ask during the intervie...
Jan 04, 2021•1 hr 4 min•Ep. 113
Hey everyone, before we get into today’s show, I wanted to let you know about an in-depth write-up I did on our website about the recently passed COVID-19 stimulus package and how it impacts optometrists. While at the time of this recording the Act has yet to be signed into law by President Trump and there seems to be a bit of volleying back and forth between the two branches of government about possible last-minute changes, I believe that the majority of the Act that would impact optometrists w...
Dec 28, 2020•1 hr 11 min•Ep. 112
On this episode of 20/20 Money, my guest is Dennis Moseley Williams. Dennis is one of a few certified experience economy experts and his sincere passion and mission is to help business owners understand the importance of the customer experience and why it’s increasingly influencing where consumers spend their dollars. In this far-reaching conversations, Dennis explains why it’s so important to understand the difference between service and experience, the 5 stages of the customer experience, 4 qu...
Dec 21, 2020•1 hr 12 min•Ep. 111
On this episode of 20/20 Money! My guest on today’s show is me! This is our AMA episode where my wife Andrea interviewed me on a variety of personal and professional questions that listeners of the show emailed us. We had originally planned on doing this as a way to celebrate the 100th episode of 20/20 Money but given where the timing of the episode fell in relation to the time of year, I opted to “shelf” the conversation until later in December because I wanted to ensure that the content we wer...
Dec 14, 2020•41 min•Ep. 110
On this episode of 20/20 Money, my guest is Nathan Hayes. Listeners of the show will recall that Nathan was just on the show a couple of weeks ago, but this was a topic that we both believe is really important for optometrists to get clarity on at all points of their career: what’s your number? 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...
Dec 07, 2020•37 min•Ep. 109
On this episode of 20/20 Money, my guest is Kim Hockaday . Kim is an experienced mortgage loan officer with Ruoff Mortgage . In the historically low interest rate environment that we’re in these days, I wanted to bring Kim on the show to talk about mortgages and how optometrists should think about all aspects of home financing. We talk about three things that are different as a buyer in this environment, how student loans play into the purchase decision, whether an underwriter prefers a borrower...
Nov 30, 2020•56 min•Ep. 108
My guest on today’s episode of 20/20 Money is Nathan Hayes of IDOC. Nathan has been on the show in the past and I was excited to have him come on the show and talk about a topic that I find myself discussion with ODs regularly: how much cash to keep in your practice. In today’s discussion, we talk about how we define expenses and how many months of practice expenses to keep in the practice. We also talk about this number in relation to the amount of cash that ODs are sitting on right now due to ...
Nov 23, 2020•38 min•Ep. 107
