Shows
Optometrists Building EmpiresBuilding Practices with Purpose - Adam Cmejla - Optometrists Building Empires - Episode # 011Ready to supercharge your financial strategies and build your optometry empire? Our guest today is Adam Cmejla, a powerhouse in financial advising dedicated to optometrists nationwide. He is the founder and president of Integrated Planning and Wealth Management. In this episode, we'll uncover the secrets behind his expertise, from planning life on purpose to intentional practice ownership. Get ready to take your financial planning to the next level and learn how to optimize your business for ultimate success. Welcome to another exciting episode of Optometrist Building Empires! Takeaways:Establish Clear Goals. Begin with the e...2024-10-2449 min
20/20 MONEYEvaluating VCPs in your practice to determine which ones to cut with Dr. Adam Ramsey, ODWelcome to this episode of 20/20 Money! My guest on today’s show is Dr. Adam Ramsey, OD. Adam joins me back on the show to continue the conversation that we teased at the end of our first conversation which was how Adam evaluated the decision to go out of network with a variety of VCPs that he was taking in his practice. He shares how he came to the realization that he needed to do it, how he evaluated the different 3rd party payors to determine which ones to punt and which ones to keep, how...2024-05-2056 min
20/20 MONEYUsing Medical Virtual Assistants in your practice to increase efficiency (and profitability) with Dr. Adam Ramsey, ODWelcome to this episode of 20/20 Money! My guest on today’s show is Dr. Adam Ramsey, OD, representing VA Healthcare. In this episode, we talk about the role that a virtual medical assistant can play in your practice’s patient flow and how to think about the changes that you’d have to make in your practice for this to be a viable option. Adam provides a list of responsibilities that they’re doing in his practice and how he thinks through capacity for this person while ultimately striving to deliver the best experience for his patients. As...2024-04-0154 min
Bridge the Gap™ by Revenue ReimaginedEpisode #20 Power in Partnerships 🤝 ft. Daniel CmejlaToday Adam and Dale are joined by Daniel Cmejla, the VP of Community at Apollo.Daniel is a powerhouse when it comes to building partnerships, community, and brand loyalty around a product and company.Since joining Apollo, Daniel has helped fuel their LinkedIn page following from 800 new followers a month to now 6,000 a month! 😳Founders, marketers, and sales leaders will want to listen in as he shares the secrets that have propelled Apollo's evangelic following.Daniel dives DEEP into how they build relationships with customers, how they find their target audience onl...2023-11-2936 min
20/20 MONEYUnderstanding and setting pricing in your practice that are fair and profitable with Dr. Chris Wolfe, ODWelcome to this episode of 20/20 Money! My guest on today’s show is Dr. Chris Wolfe, OD. Chris joins me on the show to share in a conversation about how ODs can think about pricing the different services provided in the practice and how to frame that conversation with your patients, how ODs can think about researching their pricing on medical procedures, how to think about scheduling in your practice to be as efficient with OD hours as possible, 4 questions to consider asking every pt as it relates to dry eye, the 5 steps needed to introduce change in your pr...2023-06-1252 min
EyeCode MediaWhat Doing Hard Things Can Teach Us About Ourselves w/ Adam CmejlaThis is the first episode of The Chris Wolfe podcast that was recorded in flight! Our special guest is Adam Cmejla. Adam and I both have our pilot's license. Today we talked about what flying taught us about ourselves and our professions. Please enjoy our conversation and check out Adam's Podcast The 20/20 Money Podcast. His podcast aims to bring clarity to financial concepts and strategies that impact optometrists.
Adam Cmejla, CFP® is a CERTIFIED FINANCIAL PLANNERTM Practitioner and Founder of Integrated Planning & Wealth Management, LLC, an independent financial planning & investment management firm focused on working with optometrists to...2023-05-2218 min
20/20 MONEYPeace of Mind: Aligning business and personal goals (Adam's guest appearance on Eye Own a Business Podcast with Dr. Steve Vargo)Welcome to this episode of 20/20 Money! This week’s episode is my guest appearance on IDOC’s “Eye Own a Business” podcast hosted by Dr. Steve Vargo. Steve had me on the show to talk about the relationship between business and personal goal planning and how related they are to one another. We talk about the importance of asking “why” before asking “how,” why it’s important to be specific when visualizing your goals, the importance of being intentional with your time and why practice owners are reluctant to delegate various responsibilities in their personal and professional lives. 2023-02-2047 min
20/20 MONEY5 books I recommend OD practice owners read in 2023Welcome 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...2022-12-1929 min
Can I Ask You One Question?23. In this Economy, How Should I Be Handling Money? | Adam Cmejla, cfpIn the current economic downturn marked by inflation and concerns over a looming recession, how should practice owners be handing money? Should they be reducing costs? Increasing revenues? Adam thinks one strategy is more financially beneficial than the other. Tune in to find out which one in this interview with Adam Cmejla, Founder & President of Integrated Planning and Wealth Management and host of 20/20 Money Podcast.2022-07-1209 min
Elementality for Financial Advisors | Elements Financial Vitals System™Why You Shouldn’t Fear Specialization With Adam CmejlaTrends show that the planning industry is going to look a lot different in the future. Here’s why finding a good niche could be the way to go. On this episode of Elementality, Reese and Adam Cmejla talk about the success Adam has found focusing on a highly-specialized niche market. Find out why specializing increasingly makes sense in our evolving industry.2022-06-1440 min
20/20 MONEYSetting goals, asking the right questions, common mistakes made by young practice owners, risk management, and defining success: Adam’s guest appearance on “Medical Millennial with Dr. Emilie SeitzWelcome to this episode of 20/20 Money! This episode is my guest appearance on Medical Millennial series with Dr. Emilie Seitz. Emilie was kind enough to have me on the channel to talk about a variety of topics that impact younger practitioners and practice owners, but I’ll emphasize that the topics are relevant to all practice owners—regardless of experience. In this conversation we talk about when and how to hire an advisor, how to think about setting personal and financial goals, defining success for yourself, mistakes that young practice owners make, and the importance of “betting on yourself” for long...2022-03-1451 min
20/20 MONEYThe Power of Planning (Adam’s guest appearance on Power Hour Podcast)Welcome to this episode of 20/20 Money! This episode is my guest appearance on the Power Hour Optometry Podcast hosted by Dr. Bethany Fishbein, CEO of Power Hour. Bethany wanted to have me on the show to talk about the various different areas of a practice owner’s life that they should be planning for in case of a disaster or emergency, and I enjoyed this conversation and tried to make it as fun as possible for an otherwise scary and not urgent topic. Our conversation starts on the personal side of planning and then we quickly shift over into th...2022-03-0749 min
20/20 MONEYBuilding a practice, on purpose (Adam’s guest appearance on The Power Hour podcast)Welcome to this episode of 20/20 Money! My guest on today’s show is…me! On this episode of 20/20 Money, I’m sharing with you the conversation I had with Dr. Bethany Fishbein that was originally recorded and released on the Power Hour Optometry podcast, which is the podcast hosted by The Power Practice. The Power Practice is a consultancy founded by Dr. Gary Gerber in 2003 that helps optometric practice owners achieve their most audacious business goals by creating their own definitions of success and building their practice with intention. We’ve put links to the Power Hour podcast and several...2021-12-2045 min
HUM Curated PodcastsEpisode 21 – Focusing on The Problem, Not The Solution — with Guest Adam Cmejla, CFP® Podcast: Be Advised with Brad Swineheart (LS 25 · TOP 10% what is this?)Episode: Episode 21 – Focusing on The Problem, Not The Solution — with Guest Adam Cmejla, CFP®Pub date: 2021-04-14Get Podcast Transcript →powered by Listen411 - fast audio-to-text and summarizationAre you an advisor with an existing waiting list for new clients? If not, you’ll love this episode as Brad Swineheart and Adam Cmejla discuss tactics on how to achieve just that. Don’t let your action be no action! By defining your niche market, you can pinpoint the types of problems...2021-04-2935 min
Be Advised - Leading with ValueEpisode 21 – Focusing on The Problem, Not The Solution — with Guest Adam Cmejla, CFP®Are you an advisor with an existing waiting list for new clients? If not, you’ll love this episode as Brad Swineheart and Adam Cmejla discuss tactics on how to achieve just that. Don’t let your action be no action! By defining your niche market, you can pinpoint the types of problems you need to help … Continue reading Episode 21 – Focusing on The Problem, Not The Solution — with Guest Adam Cmejla, CFP® →2021-04-1435 min
Maximum AdvisorThe Math of Finding a Niche Market with Adam CmejlaJoin host Chip Munn in this episode of the Maximum Advisor podcast as he sits down with Adam Cmejla, founder of Integrated Planning & Wealth Management, to discuss his client waiting list and how he got there. Adam works almost exclusively with optometrists that are within five years of selling their practice to a private equity firm. Talk about a niche!2021-03-3040 min
20/20 MONEYStudent Loan Planning in 2021On this episode of 20/20 Money! My guest on today’s show is Rob Bertman. Rob is one of the resident experts at Student Loan Planner, a business that was founded by Travis Hornsby that has now grown to a number of consultants that have collectively provided more than 5,000 consults on over $1.2B of student loan debt. Rob joins the show today to help optometrists answer one of the most common questions that we get from younger ODs: how should I start thinking about paying back my student loans? In this wide-ranging conversation, Rob shares the basic formula fo...2021-03-011h 0720/20 MONEYUnderstanding Different Types of Profit Sharing PlansUnderstanding the different types of profit-sharing plans that exist can help an optometrist determine which type of plan is going to be best for their practice. In this episode we talk about the different type of profit-sharing plans that exist and the advantages and disadvantages of each. We also share the different vesting schedules that exist and wrap up with some thoughts on how to use a profit-sharing plan to increase staff loyalty and employee retention in the practice. As a reminder, you can get all the information discussed in today’s conversation by visiting ou...2020-09-0736 min20/20 MONEYHow to Pay Less in Taxes the Year You Sell Your Practice with Karl WillmanOptometrists that own their own practice are always looking for strategic ways to reduce their tax liability. The tax bill that’s generated when an optometrist sells their practice can have a big impact on how much money they keep as a result of the transaction. Retirement plans like the 401(k) profit sharing plan are usually go-to strategies, but there are limitations in how much one can contribute annually into these plans. Additionally, there’s little that can be done with a 401k profit sharing plan to help offset and reduce the tax liability that’s generated in the...2020-08-311h 0020/20 MONEYA Powerful 401(k) Option You've Probably Never Heard OfUtilizing a retirement plan like a 401(k) profit sharing plan is a great tool to help optometrists save money for retirement. It’s also a way for them to reduce taxes in higher earning years and deferring that tax liability until future years. While most optometrists may be familiar with Traditional 401k and profit sharing plans, a little known planning tool that exists is the ability to make after-tax contributions to a 401k plan. This strategy is often referred to as the “mega back-door Roth” strategy. In this episode, we talk about the history, details, benefi...2020-08-2437 min20/20 MONEYHow to Use Your Website to Drive New Patients to Your Practice with Dr. Rich ZimbalistHaving a website that stands out, drives new patient growth, and creates a great patient experience is a tall order for any optometrist that owns their own practice. Knowing where to begin or what areas of your website and digital marketing strategy to focus your time and dollars is another challenge. Thankfully, there’s someone out there that can see the challenge from multiple different perspectives. Dr. Rich Zimbalist, OD is not only a practicing optometrist but also an experienced digital marketing professional who has served many ODs in helping them create an online brand and marketing strategy that no...2020-08-1755 min20/20 MONEYFive Reasons Why I Don’t Like SIMPLE IRAs for Optometry Practice OwnersChoosing a retirement plan for your optometry practice is an important decision and it’s one of those processes that can often be put on the back burner by ODs. It’s common for us to see mature practices still utilizing a SIMPLE IRA in their practice and, when asked why they still use a SIMPLE IRA, a common answer we hear is “Because it’s much cheaper than a 401(k).” This is also advice that we see being shared in online communities as well. In today’s episode,, I want to share with you five reasons why the SIMP...2020-08-1043 min20/20 MONEYThree CARES Strategies to RevisitAs optometrists continue to deal with the personal and professional financial implications of COVID-19, the CARES Act has been the focal point for those looking for relief and assistance. The PPP, EIDL, and other provisions of CARES captured our attention for the last couple of months, but, on this episode, we discuss three strategies and provisions of CARES that are still worth evaluating in your personal and professional lives. As a reminder, you can get all the information discussed in today’s conversation by visiting our website at www.integratedpwm.com and clicking on the Learning Center. Whi...2020-08-0334 min20/20 MONEYProactive, Mid-Year Tax Planning Strategies to ReviewHello, and welcome to this episode of 20/20 Money! On today’s episode, I discuss 7 proactive strategies that you can consider as you evaluate your financials through the latter half of 2020. I discuss the importance of reviewing your list of itemized deductions even if you didn’t itemize and whether a charitable lumping strategy would be beneficial to consider. I also talk about why partnerships should reevaluate how income is classified on their K-1 and why shifting income from guaranteed payments to net income should be evaluated by their legal, accounting, and financial team. I also explain why it’s import...2020-07-2733 min20/20 MONEY7 Items to Review on Your Tax ReturnHello, and welcome to this episode of 20/20 Money! On this episode, I highlight seven line items on your tax return that optometrists should review to ensure you’re not paying too much in taxes. Those seven items (along with the location of where to find them on your personal tax return) are listed below: Health insurance deduction for SE (Schedule 1, line 16) Taxable interest (1040 Line 2b) QBI deduction for SE (1040 Line 10) SS tax refund (Schedule 3, Line 11) 529 deduction for your state (State tax return) Maxing out your HSA (Schedule 1, Line 12 & Form 8889) Roth conversions being coded incorrectly & correct 8606 filing (1040 Line 4a an...2020-07-2042 min20/20 MONEYHow to Understand Practice Cash Flow to Help Grow Your Net Worth with Nathan HayesOn this episode of 20/20 Money, Nathan Hayes from IDOC and I discuss how optometrists should be thinking about cash flow in their practice. We discuss how much cash reserves ODs should have in their practice in the wake of COVID-19 as well as why it’s important to get cash out of your practice instead of letting it sit in your business. Nathan also shares why leaving cash in your business might actually hurt your valuation from a buyer’s perspective. We also talk about how to reduce your tax bill as a practice owner and why it’s import...2020-07-111h 1020/20 MONEYProfit First with Dr. Mick Kling, ODHello, and welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Mick Kling, OD. Mick has been on the show in the past and he joins me today to talk about a concept that is gaining more traction in the OD community and that is the accounting philosophy known as Profit First. Profit First is based on the popular book by Mike Michalowicz and Mick has unique experience in that he’s both adopted this accounting process in his own practices and has also consulted with many other ODs on how to transition their prac...2020-07-061h 0620/20 MONEYHow Two ODs ARE CRUSHING Their Student Loan Debt: An Interview with Drs. Zac & Joelle HollandHello, and welcome to this episode of 20/20 Money! My guests on today’s show are Drs. Zac and Joelle Holland. Joelle and Zac have been listeners of the show for some time and Joelle reached out to me to ask if I’d be interested in interviewing them about how they have both been laser focused on paying off their student loans. For me, it was an easy decision as creating a student loan repayment strategy is one of the most common challenges and discussion points for newer grads. There’s so much amazing information and empowerment that’s...2020-06-291h 2620/20 MONEYGetting a Fair Deal: An Optometrist's Guide to Savvy Real Estate Leases with Colin CarrHello, and welcome to this episode of 20/20 Money! My guest on today’s show is Colin Carr. Colin is the founder and CEO of CARR, a nationwide commercial real estate company specifically focused on representing the needs and interest of healthcare providers. Colin has mastered several niches in healthcare real estate and is passionate about helping others maximize their profitability through real estate. In this conversation, Colin and I cover a wide spectrum of topics. Among them, Colin shares what NOT to do when you see vacant space that you’re interested in, three main ideas to cons...2020-06-221h 1120/20 MONEYHow Rethinking Your Patient Interaction Can Influence Change and Improve Your Practice with Dr. Steve Vargo, ODHello, and welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Steve Vargo, OD. Steve has had a storied career in optometry, starting out as a clinician after graduating from ICO in 1998. His interest for business led him to earn his MBA and eventually land at IDOC in the role of a practice management consultant. Having had over 3,000 consultative conversations over the years, he’s realized what every OD needs to know: we all have largely the same playing field. The difference, however, is in the execution of ideas and strategies, and it was in h...2020-06-151h 0720/20 MONEYNavigating a Private Equity Practice Exit (Part 2): A Conversation with Jason PreatorThis is part 2 of my conversation with Jason Preator. Please be sure to check out part 1 from last week! As a reminder, you can get all the information discussed in today’s conversation by visiting our website at www.integratedpwm.com and clicking on the Learning Center. While there, you can also set up a 15min pre-discovery conversation to learn a little bit more about what it means to work with our firm or check out any number of additional free resources like our eBooks and on-demand webinars. And with that introduction, I hope you enj...2020-06-0830 min20/20 MONEYNavigating a Private Equity Practice Exit: A Conversation with Jason PreatorHello, and welcome to this episode of 20/20 Money! My guest on today’s show is Jason Preator. Jason is one of the leading resources and advisors in the optometric space when it comes to helping optometry practice owners sell their practice to a private equity firm. Today’s conversation was so good and long that I actually made the decision to break it up into a two-part episode. In today’s episode, we talk about the duration of the process of selling, making sure you understand your why around selling your practice, two big factors that influence your valuation, why it...2020-06-0158 min20/20 MONEYThe Benefits and Strategy to Adding Dry Eye Tx to Your Practice with Dr. Damon Dierker, ODHello, and welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Damon Dierker. Damon already has a very storied career in optometry, so I was excited to have him on today to talk about dry eye and I feel it’s important to give a bit of a backstory to help set the stage. Clinically, he is a partner and Director of Optometric Services at Eye Surgeons of Indiana, one of (if not the) top tertiary care/referral center in the state of Indiana. His areas of clinical expertise include advanced retinal dise...2020-05-261h 0220/20 MONEYManaging Your Schedule to Profitability with Dr. Gina Wesley, ODHello, and welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Gina Wesley. Gina joins the show to discuss various ways in which scheduling has impacted the profitability of her practice. We talk about the direct and indirect benefits of having a scheduling philosophy and why empowering your team is an important component to helping you manage an efficient practice. We also discuss the importance of communicating and setting expectations with patients is important regardless of the type of exam or the journey that they went through (normal exam vs emergency vs walk-in) and ex...2020-05-181h 0920/20 MONEYThinking about practice valuations in the midst of COVID19 with Matt HowardWelcome to another episode of 20/20 Money. My guest on today’s show is Matt Howard. Matt is a CPA and CVA, which is a Certified Valuations Analyst, with Blue and Co here in Indianapolis. I’ve known Matt for a number of years and have always appreciated and valued his opinion. Today’s conversation is a bit unorthodox as there really wasn’t a whole lot of planning behind the content. What started out as a simple question on the phone between two friends and colleagues turned into I feel a very timely episode: how should buyers and sellers of pract...2020-05-1141 min20/20 MONEYThe How and Why of Having an Accountability Partner as an Optometrist with Drs. Jennifer Stewart and Jeremy CianoHello, and welcome to this episode of 20/20 Money! My guests on today’s show are Drs. Jeremy Ciano and Jennifer Stewart. Longtime listeners of the show will recognize those names as I’ve had them both on a number of times in both 1-1 interviews as well as a three-way discussion. I respect both of their opinions and perspective as they both run highly successful practices, and that success does not come by accident. Jennifer and Jeremy join me in today’s conversation to discuss accountability as a business owner. As practice owners, it can be sometimes be har...2020-05-0446 min20/20 MONEYPursuing a Better Investment Experience During Volatile Markets with Dave GoetschHello, and welcome to this episode of 20/20 Money! My guest on today’s show is Dave Goetsch. Dave is the Executive Producer and writer for the hit TV show “The Big Bang Theory” and he joins me to talk about his journey not as a TV writer but as an investor. He shares his journey as an investor, lessons he’s learned along the way (one of them almost being a really expensive lesson), the investment philosophy he’s implemented and how he’s been able to go from feeling anxious and nervous to calm and resilient as an investor.2020-04-2751 min20/20 MONEYPPP Update & Emergency CARES Act StrategyOn today’s episode, I start out with an update on the Paycheck Protection Program and what we’ve learned through the first round of applications as well as an update (as of now) as to what the next round of stimulus funding might look like and when that might come to fruition. I then share details on another aspect of the CARES Act that hasn’t been as talked about but can still be an important planning consideration and that’s the Employee Retention Credit. I share the details on how the ERC works and an example of a practi...2020-04-2046 min20/20 MONEYNavigating and Planning for the Optometry Job Market Post-COVID-19 with Dr. Matt Geller, ODHello, and welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Matt Geller. Matt joins me back on the show today to talk about a variety of topics as it relates to staffing an office in the wake of the COVID-19. We talk about areas that practice owners should be focusing on now as well as some of the top items (personally and professionally, financially and otherwise) that ODs should be maximizing in this time of uncertainty. We emphasize the importance of cash, what someone looking for an associate position should do to stand ou...2020-04-1356 min20/20 MONEYThe CARES Act & Optometry: A Replay of my Facebook Live Q&A SessionHello, and welcome to this episode of 20/20 Money! Today’s show is a unique one in many ways, starting out with a longer-than-normal introduction. This episode is actually a replay of the 75 minute Q&A session I did with the ODs on Finance Facebook group on all things related to the CARES Act and how it impacts optometrists. It’s important to understand that, at the time of the live Q&A session, both the IRS and Small Business Administration (SBA) had not yet released additional guidance on aspects of the CARES Act. By far the most popu...2020-04-061h 1820/20 MONEYTelehealth, Fear Setting, and Pivoting: How ODs Can Reframe and Refocus ThroughCOVID 19 with Dr. Justin Manning, MPH, OD, FAAOHey there 20/20 Community. Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Justin Manning. I know ODs around the country are going through a lot right now as we all grapple with the disruption caused by COVID-19. I wanted to have Justin back on the show because I thought he’d bring a unique perspective to the show, as he’s the only OD I know that also has their MPH (Masters Degree in Public Health). During our conversation we talk about various examples and ways in which we’ve both witnessed ODs maki...2020-03-3049 min20/20 MONEYCrisis Management Tips During COVID-19 ClosuresWelcome to this episode of 20/20 Money! Every practice owner around the country is trying to figure out which way gravity is working right now and figuring out how to make unprecedented decisions in their practice as it pertains to their cash flow and their team management. With that being the case, we wanted to provide some thoughts and ideas that practice owners can take during these time to better prepare themselves and their practices for the foreseeable future. In this episode we talk about the importance of being proactive in a number of different areas in your...2020-03-2338 min20/20 MONEYIncreasing Annual Supply Contact Lens Sales (and Profitability) In Your Practice with Ryan Gustus, ODWelcome back 20/20 Money Community to another episode. Well, unconventional times call for unconventional strategies. Some of you may have financial-related questions about what’s going on right now in the markets. Whether you’re a new investor and this is your first “taste” of volatility or you’re a seasoned investor on the brink of or in retirement, it’s times like these that questions, concerns, or doubt can creep into our psyche and mindset. I wanted to let you know that we’re going to be hosting a “town hall” type meeting/webinar on Wed, March 18th at 8pm EST to talk thr...2020-03-161h 0220/20 MONEYWhat to do During Market SelloffsOn this episode of 20/20 Money, I deviate a bit from the traditional topics of the show and talk about what investors should be thinking about and doing during market selloffs like we experienced last week. I actually bumped a previous episode to make room for this conversation just given the nature and timeliness of the events that occurred in the markets last week. I talk about the importance of having an investment philosophy, what you should be looking at with regards to your investment plan and timeline, the importance of understanding the amount of risk that you’re taking in...2020-03-0950 min20/20 MONEYHow to Think About Vision Plans and Profitability in Your Practice with Drs. Jennifer Stewart & Jeremy CianoHello, and welcome to this episode of 20/20 Money! My guests on today’s show are Drs. Jennifer Stewart and Jeremy Ciano. Longtime listeners will know that both of them have been on the show a number of different times. Their business knowledge and practice insight has helped them each build and run very successful private practices. On today’s show, we discuss one of the biggest decisions and factors that influence the gross revenue and thus profitability of an optometry practice: vision plans. Jeremy and Jennifer discuss their viewpoint on vision plans, the purpose with how...2020-03-0249 min20/20 MONEYHow Much Should You Pay Yourself?As the owner of a private practice, a question that you will inevitably ask yourself is “How much should I pay myself as the owner of my practice?” There are a number of different ideas and considerations to think about with regards to this question and in this show I talk through some of the different decision points that exist for a practice owner to consider which can influence how much they pay themselves. Profit First The Profitable Doctor My sessions at Vision Expo East (March 26-29 in NYC) All o...2020-02-2438 min20/20 MONEYThree Ratios ODs Should Know From Their Balance SheetIn this episode of 20/20 Money, I talk about three important ratios that optometrists should understand using their balance sheet. There are three big financial statements that practices should always be analyzing, and I feel that the balance sheet is the one that gets the least love from ODs. During the conversation, I talk about how to calculate your quick ratio, your current ratio, and your debt service to outstanding debt ratio and what range each of those should be within your practice. ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Play Stitcher —...2020-02-1718 min20/20 MONEYBeing an Optometrist and Working as a Medical Science Liaison with Nysha Blender, ODHello, and welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Nysha Blender. Nysha joins me on the show to talk about her journey in optometry and how she ended up in a somewhat unconventional role as a medical science liaison with Ocular Therapeutix. On this show we talk briefly about her path in optometry and what caused her to go down this path of becoming an MSL and what it’s meant to her personally, professionally, and clinically. She gives us an idea of “a day in the life of” and what has surprise...2020-02-1058 min20/20 MONEYWhat Every Optometrist Should Know About Life InsuranceLife insurance for optometrists is something that probably isn’t the topic of conversation when ODs get together and chat, but it’s an important part of a well-rounded financial plan. Unfortunately, there are many different options for life insurance and they’re not all created equal, especially when you take into consideration the conflicts of interest that exist between you the client and the person selling you a policy. On this episode I share with you the basics of the different kinds of life insurance and which type of life insurance I believe is going to be sat...2020-02-0334 min20/20 MONEYFinancing Considerations when Buying or Selling a Practice with Dan ZoneHello, and welcome to this episode of 20/20 Money! My guest on today’s show is Dan Zone. Dan’s a VP and Senior Relationship Manager with Wells Fargo Commercial banking here in Indianapolis and is back for a second time on 20/20 money. What’s unique about Dan, though, is that he has a big focus on serving those in “white coat professions” including optometrists and I wanted to have him on today to talk specifically about financing the sale of a practice from both points of view: the seller and the buyer. We start out our conversation by talking...2020-01-2737 min20/20 MONEYSelling Your Practice as a Vision Source Partner Office with Dr. Mick Kling, ODHello, and welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Mick Kling, OD. Mick wears many different hats in the optometry community and spends a good deal of his time talking and consulting with other ODs around the country. In addition to owning Invision Optometry in San Diego, he is also the founder of Impact Leadership, an organization that helps ODs understand their practice’s finances and how to use that information to run a more profitable practice, albeit through maybe a bit more of an “unconventional” approach compared to how yo...2020-01-201h 0620/20 MONEYHow to Distribute Cash Flow Out of Your PracticeAs the owner of an optometry practice, one of the benefits is being able to participate in not only the normal “earnings” that any other OD would make, but also the rewards of owning the practice in the form of profits. In this episode, we’ll talk through the different ways in which ODs can pay themselves out of their practice, which starts by understanding how your practice files its taxes. From there, we’ll discuss the type, timing, and frequency of how you can pay yourself out of your practice to satisfy both the practice’s and your own financ...2020-01-1327 min20/20 MONEY5 Financial Steps Optometrists Should Take in the Beginning of the YearIt’s the start of a new year—the year of optometry!! Let’s start out 2020 by talking about 5 financial topics that optometrists should be reviewing both in their personal and professional lives. We start out by talking about funding your Roth IRAs (especially if you’re making those contributions via back-door Roth IRA conversions), HSAs, and 529s and also remind you to adjust your annual contribution savings amounts into your 401k or SIMPLE IRAs. From there, I talk about the importance of making sure that your chart of accounts is accurate, which will give you an accurate...2020-01-0639 min20/20 MONEYPersonal Budgeting Tips and Tools for Optometrists and Private Practice OwnersHello, and welcome to the last episode in 2019 of 20/20 Money! In this final episode of the year, I spend time talking about how important it is to take time to measure where your money is going in your personal life and how the only way to really get a good picture of that is by analyzing your spending by running a personal budget. I talk about the different kinds of expenses to track and a number of tools that you can use to help you kick-start the process of analyzing your spending. I then discuss h...2019-12-3033 min20/20 MONEYMy Top 10 Books Optometrists Should Read in 2020 to Build a Life They LoveHello, and welcome to this episode of 20/20 Money! On this episode I discuss my top 10 books that I believe ODs should read in 2020 to help them get closer to building the practice of their dreams and a life they love. The books are both personal and professional in nature (along with one investment-related book). Links to all the books can be found below in the show notes or at www.integratedpwm.com/59. While there, you can also set up a 15min pre-discovery conversation to learn a little bit more about what it means to work with our firm or...2019-12-2340 min20/20 MONEYIncreasing Profitability Through Staffing Flexibility with Dr. Gina Wesley, ODHello, and welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Gina Wesley. Dr. Wesley owns and practices at Complete Eye Care in Medina, MN and she’s been recognized as Minnesota’s Young Optometrist of the Year in 2011 and has also earned the Early Professional Achievement Award from The Ohio State University College of Optometry in 2013. She joins the show today to talk about something that almost every practice owner I’ve talked to struggles with at some point in their career: staff management. In this conversation, Gina and I talk sp...2019-12-161h 0020/20 MONEYYear-End Tax and Financial Planning StrategiesHello, and welcome to this episode of 20/20 Money! As we close in on the end of the year, it’s time to begin thinking proactively around different strategies you can still consider before the calendar rolls over to 2020. In today’s show I’ll discuss what you can and cannot do in your practice to control net pass-through income and thus reduce your tax bill. I’ll also revisit the 199A deduction (QBI) and profit sharing contributions into your practice’s retirement plan. On the personal side, I’ll share a number of ideas to consider before year-end and how decision...2019-12-0940 min20/20 MONEYStarting a Practice Cold While a 4th Year: The Success Story of Dr. Hannah ChoHello, and welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Hannah Cho, OD. Hannah joins the show today to talk about the journey she’s had in private practice, going all the way back to when she started the practice cold while still a 4th year optometry student (and also shortly after having her first child). She talks about why establishing culture very early on in your practice is one of the key factors in delivering a WOW! patient experience and why that begins at the hiring level. She also shares the...2019-12-021h 0320/20 MONEYContemplating a Private Equity Funded Exit: The Story of Dr. Ken Krivacic, ODHello, and welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Ken Krivacic. I believe my conversation with Ken will resonate with a number of listeners because Ken found himself on both sides of the private equity equation: first publicly opposed to it (even going so far as to author a number of articles written for Review of Optometric Business on why he WASN’T going to sell but then ultimately agreeing to sell his practice to a private equity firm. During this conversation, we discuss why he didn’t decide to sell t...2019-11-251h 0620/20 MONEYControlling Your Income: The Importance of Fee Schedules on ProfitabilityHello, and welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Jeremy Ciano, owner of RevolutionEyes in Carmel, IN. Jeremy has been on the show in the past and today’s conversation was actually sparked by a question from one of our listeners and a prospective client of our firm, which was analyzing their fee schedule in their practice to determine if their profitability ratios are where they should be. During this conversation, Jeremy shares so many good ideas and strategies to consider. He talks about how he thinks about the retail pric...2019-11-1855 min20/20 MONEYHealth Insurance Options for OptometristsIt’s that time of year again: open enrollment. While everyone is thinking about the holiday season that is right around the corner, small business owners and those individuals that aren’t eligible to participate in group health insurance plans also find themselves in their own version of “open enrollment season”—the window of time where we can change the type of coverage that we have, who we have that coverage with, and what our costs for next year will be. In this episode, I share an update on our own personal journey through the health insu...2019-11-1237 min20/20 MONEYTop 10 (Financial) Tips for Optometrists: On location at Univ. of Houston College of Optometry Hello, and welcome to this episode of 20/20 Money! Today’s show takes on a bit of an unorthodox format as it’s actually the audio from a recent presentation that I gave at the University of Houston-College of Optometry. If you’d like to watch the video version of the presentation, head over to our website at www.integratedpwm.com and click on the Learning Center where you’ll not only find the video in a separate post but you’ll also find a variety of other resources to help ODs make smart and informed personal and professiona...2019-11-0456 min20/20 MONEYUpdates, Clarifications and Anchoring BiasHello, and welcome to this episode of 20/20 Money! In today’s episode, I spend the first part clarifying and expounding upon two previous shows and topics that we’ve discussed and then finish it up by talking about a relevant topic that has come up both in my personal life as well as with a number of clients over the past couple of weeks. The first part dives into a few more clarifying points about disability insurance that was shared with me by a listener of the show and the second topic provides some clarification aroun...2019-10-2832 min20/20 MONEYCelebrating Episode #50 of 20/20 Money with Dr. Andrea Cmejla, ODHello, and welcome to this episode of 20/20 Money! My guest on today’s show is none other than my wife Dr. Andrea Cmejla. As I celebrate 50 episodes of 20/20 Money, I thought this would be a great opportunity to have Andrea on the show to talk about her journey in optometry thus far and some of the lessons and knowledge she’s learned through her multiple modalities of practice. We talk about her first position as an associate out of school and spend a good part of our conversation talking about ways in which she and her team at LASIK Plus...2019-10-2158 min20/20 MONEYA New Mindset for Patient Engagement & Leadership with Dr. Justin Manning, OD, FAAO, MPH: Part 2Hello, and welcome to this episode of 20/20 Money! This is part 2 of my conversation with Dr. Justin Manning. In this continued conversation from VEW in Las Vegas, we discuss the importance that ODs play in patients’ lives (which is no surprise to ODs), but more importantly the role that ODs can play in the greater issue of population health, and we still do this through the lens of being a great leader and having a great practice culture. We talk about how to reframe tx plans through the filter of the benefits to the patient in real time instead of...2019-10-1538 min20/20 MONEYA New Mindset and Framework for Patient Engagement & Leadership with Justin ManningHello, and welcome to this episode of 20/20 Money! This is an extra-special episode of the show, because it’s being released exactly one year to the day from when the show was started. Back then, the show was called “The Dose” so if you haven’t checked out some of those earlier episodes, be sure to scroll through the show archives and check out our earlier episodes. My guest on today’s show is Dr. Justin Manning. Justin is an optometrist based in Colorado and is focused on helping other ODs scale and grow their practice th...2019-10-0748 min20/20 MONEYThree Taxes to be Aware of When You Sell Your PracticeOn this episode of 20/20 Money, I keep the theme going of “Selling in September” and talk about three of the biggest taxes to be aware of when you sell your practice and how those taxes will impact the net proceeds that you will walk away from after the sale of your practice. I also discuss the ongoing investment-related taxes that you need to be aware of as well and which investment vehicles are usually more tax efficient for a non-retirement brokerage account, which is typically the type of account that an OD will use for the net proceeds from the...2019-09-3037 min20/20 MONEYFrom Beginning to End: The Timeline of Selling Your Practice with Erik Ferjentsik (Part 2) Hello, and welcome to this episode of 20/20 Money! My guest on today’s show is Erik Ferjentsik, and this is actually Part 2 of my conversation with Erik. You can check out Part 1 by listening to last week’s episode. Erik is the founder and principal of Visionary Practice Group, a firm that works with optometrists to broker, consult, and appraise their practice for transitions. In part 2, I pick up the conversation with Erik where we started talking about the difference between an asset and a stock sale and how to think about goodwill in your pract...2019-09-2341 min20/20 MONEYFrom Beginning to End: The Timeline of Selling Your Practice with Erik Ferjentsik (Part I) Hello, and welcome to this episode of 20/20 Money! My guest on today’s show is Erik Ferjentsik. Erik is the founder and principal of Visionary Practice Group, a firm that works with optometrists to broker, consult, and appraise their practice for transitions. I’ve known Erik for a number of years and it was great to have him on the show. We have a common bond in that we’re both married to ODs so we both look at the profession of optometry through a different set of lenses, so I was excited to dive into th...2019-09-1651 min20/20 MONEYExit Stage Left: Prepping for the Exit from Your Practice with JT Metzger Hello, and welcome to this episode of 20/20 Money! As a quick reminder, if you’re going to be attending Vision West in Las Vegas in a couple of weeks and have a topic you’d like to discuss, I still have one more opening in my schedule to record an episode in person. If you’re interested, be sure to email me at podcast@integratedpwm.com to share your topic. My guest on today’s show is JT Metzger. JT has a storied and tenured career of working to help businesses evaluate, strategize, implement...2019-09-0952 min
Financial Advisor SuccessEp 140: Transforming Your Advisory Business By Shifting Your Mindset After Hitting The (10-Year) Capacity Wall with Adam CmejlaAdam Cmejla is the founder of Integrated Planning and Wealth Management, an independent RIA that oversees approximately $45 million in assets under advisement for nearly 100 clients. Over the past two years, Adam’s practice has undergone an incredible transformation, increasing their financial planning fees and growing revenue by nearly 80%. In this episode, Adam shares how his marketing process has evolved, as well as what made him decide to narrow down his focus and serve only optometrists. Listen in to discover how a shift in his mindset has helped his firm to grow phenomenally—while also allowing him to spen...2019-09-031h 5520/20 MONEYAdding an Associate: Understanding Marginal Chair Cost to Leverage Your PracticeHello, and welcome to episode 48 of 20/20 Money! Even though this episode is coming out on the first Monday in September, it is Labor Day and therefore I’m pushing back the “Selling in September” theme until next week, when the next four episodes will be dedicated to topics relating to selling one’s practice. My guest on today’s show is Dr. Matt Mitchell. Matt has been on the show in the past and I wanted to have him back to talk about a problem that I hear a lot of ODs trying to solve, and that’s the predic...2019-09-021h 1020/20 MONEYThe ABC’s and 123’s of Disability Insurance for ODsOn this episode of 20/20 Money, it’s all about the ABC’s and 123’s of disability insurance for optometrists. We’ll discuss what disability insurance is, the different kinds of disability insurance an OD can get, how much of a benefit you can get, and what riders you should make sure are on your policy (including the most important rider of all). I’ll also share with you some of the carriers that we’ve seen write good policies for optometrists and talk you through the underwriting process and how to find a good agent to help you shop for a policy...2019-08-2643 min20/20 MONEYShould You Upgrade Your Retirement Plan From a SIMPLE IRA to a 401(k)?Welcome to this episode of 20/20 Money! Today’s show is all about retirement plans and specifically whether (and when) an optometrist might consider switching from a SIMPLE IRA to a 401(k). During the show I first start by laying the foundation and going over the basics of how 401(k)’s and SIMPLE IRAs work, specifically as it relates to some of their small but significant differences. I share the differences in matching formulas as well as the total contribution limits that apply to both of them. I then talk about when in the timeline of one’...2019-08-1957 min20/20 MONEYGetting Down with Dailies: The How and Why of Increasing Daily CL Rx in Your PracticeWelcome everybody! Welcome to the 40th episode of 20/20 Money. My guest on today’s show is Dr. Jennifer Stewart. Jennifer is an optometrist and partner at Norwalk Eye Care and Performance 2020 and this is actually the second time that she’s been on our show. I wanted to have Jennifer back on the show to talk about dailies and the role they have played in her career both clinically as well as how educating and encouraging pt adoption of a daily disposable lens have helped the profitability in her practice. During our conversation, Jennifer talks about why pts are more...2019-08-121h 0320/20 MONEY1031’s and DST’s: Tax and Investment Considerations When Selling Commercial Real EstateHello, and welcome to this episode of 20/20 Money! My guest on today’s show is Nina O’Neal. Nina is a partner and investment advisor with Archer Investment Management in Raleigh, NC. What’s interesting and unique about Nina, though, is her breadth and depth of experience in the world of real estate investments, specifically as it pertains to strategies and solutions for the gains and proceeds that are realized when business owners sell commercial real estate they owned either as part of their business or other separate entity. During our conversation, we talk about the tax...2019-08-051h 0820/20 MONEYUnderstanding Market Declines and Financial PornographyHello, and welcome to this episode of 20/20 Money! My guest on today’s show is Jeff Smith. Jeff is a long time friend of mine and works as what is known in the investment world as a “wholesaler,” which means that it’s his responsibility to communicate primarily to other investment professionals that work with clients what his company is doing to understand the markets. This is a unique episode, though, as we record it “on location”…not from an investment conference or stock exchange, but from the world’s largest general aviation fly-in in Oshkosh, WI. We...2019-07-2950 min20/20 MONEYBuying and Growing a Successful Rural Optometry Practice: The Story of Dr. Matt Mitchell, OD Welcome back to another episode of 20/20 Money. My guest on today’s show is Dr. Matt Mitchell. Dr. Mitchell owns Bluffton Family Eye Care, a private practice located in…you guessed it…Bluffton, IN. What’s unique about Matt, though, is that his practice is located in what many would consider to be a “rural” practice setting, as the population of his entire county is less than 30,000 people and is dominated by agribusiness. In this conversation, Matt starts out by talking about the current make-up of his practice, including their schedule, number of providers, and...2019-07-221h 0620/20 MONEYPrioritizing Your Long-Term Savings VehiclesWelcome to this episode of 20/20 Money! In today’s episode I talk about the different retirement savings vehicles that ODs should consider given the mode of their practice and the “ladder” in which they should order their savings strategy. I begin with the versatility of the HSA and why it’s good to think about the HSA as not an account that exists for day-to-day healthcare expenses but more of a long-term savings vehicle. I also talk about the importance of retirement plans in the practice, the Roth IRA (including backdoor Roth IRA conversions), and what percentage of income I’d sugg...2019-07-1537 min20/20 MONEYThe Path to Multidisciplinary Success—The Story of Dr. Jennifer Stewart, ODHello, and welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Jennifer Stewart. Jennifer is a partner at Norwalk Eye Care, a private practice in Norwalk, CT. The reason that I wanted to have Jennifer on the show is because of her insatiable quest for knowledge on how to run an incredibly efficient and profitable practice by becoming a student of the numbers within the practice. She’s also dedicated part of her professional life to the growing specialty of sports vision training, having launched a second business that’s actually located on the sec...2019-07-081h 0320/20 MONEYWhy Don’t Young ODs Want to Buy Practices??Hello, and welcome to this episode of 20/20 Money! My guest on today’s show is Nathan Hayes. Nathan is the Practice Finance Consultant at IDOC and has worked with countless practices to help them understand not only the financials of their practice but how to make strategic business decisions based on the financial health of the practice. Our conversation was centralized around an Optometric Management Tip of the Week Article titled “3 Misconceptions About Buying Optometry Practices.” I wanted to ask Nathan, based on his experience and conversations he’s been having, why he feels this is happenin...2019-07-0158 min20/20 MONEYMaking the Most Out of Optometry Conferences Today’s show talks about how you can make the most out of your time when attending optometry conferences. As clinicians, your ability to produce revenue is directly to your ability to see patients, so it’s important to get a great RoT (return on time) at your conferences because the cost of the conference is not just the expenses of the conference but also the opportunity cost of what you otherwise COULD be earning in your practice had you not taken the time to attend the conference. I walk you through the life cycle of the c...2019-06-2434 min20/20 MONEYPlanning Your Career After Graduation w/ the co-Founders of NewGradOptometry.comHello, and welcome to this episode of 20/20 Money! My guest on today’s show are Drs. Matt Geller and Antonio Chirumbulo.Matt & Antonio were guests on our 3rd episode and are the co-founders of the popular website www.newgradoptometry.com, a website dedicated to providing relevant and timely information for…you guessed it…new OD grads. It’s the beginning of June, and what that means for new optometry grads is that it typically gives new grads a bit of some downtime while they wait for their license from the state board before they start into their first job as a...2019-06-1746 min20/20 MONEYFour Levers in RetirementWelcome to another episode of 20/20 Money! Today will be another solo episode and we’ll be talking about the basic four levers that you can pull when it comes to “retirement” or, as I like to call it, financial independence. Now, if you’re listening and far away from retirement, I’d still encourage and ask you to stick around for the show, because (a) it’s not a long episode and (b) there are variables that I’m going to talk about that you can act on TODAY that will have significant implications on your ability to achieve fin...2019-06-1033 min20/20 MONEYManaging a 4-location Corporate-Affiliated Practice and a Medical Billing Company: The Career of Dr. Eric Botts, ODHello, and welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Eric Botts. Eric is a practicing optometrist in Macomb, IL and what I love about Eric’s practice model is that he is the lease holder at four different Walmart vision centers. In today’s conversations we talk about what his practice looks like and the make-up of his team and how he balances the dynamics of having a relationship with not only the team that he pays but also Walmart team members that work inside the VC. We also ta...2019-06-0357 min20/20 MONEYThe Emotional Connection to CashIn today’s episode, I share three different events that have transpired over the last couple of weeks that have gotten me to think about the emotional connection we have to cash, specifically cash that is on hand in an “emergency fund.” I share two personal stories that have brought this to light over the past couple of weeks along with an example from a (not named, of course) client conversation. I then talk about the two psychological biases that cause us to have the emotional connection to cash and discuss examples of them and how the...2019-05-2731 min20/20 MONEYThe Impact of Mastermind Groups: The Story of Dr. Kent GodfreyWelcome to this episode of 20/20 Money! My guest on today’s show is Dr. Kent Godfrey. Kent owns a multi-location practice in and around the Denver, CO area and has, by most definitions, a very successful practice. In this episode, we talk about Kent’s path into practice ownership and the state of his practice right now. We also touch on something that is very important to him and that is using his professional skills as an OD to give back to those that need an ECP through his volunteerism with VOSH. From there, our conversation shifts towa...2019-05-201h 0020/20 MONEYA Tale of Two Roles: The Career Journey of Britt Gustafson, ODHello, and welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Britt Gustafson. Britt is a practicing optometrist in Eden Prairie, MN. The reason that I wanted to have Britt on the show is that she has used her degree as an optometrist to not only provide clinical care to patients in a practice setting, but also by getting involved in the research and development of contact lenses and contact lens solutions. In this episode we talk about Britt’s path in optometry and discuss her current practice setting and addre...2019-05-1346 min20/20 MONEYEye Moonlight as a Podcast Host: The Careers of Drs. Roya Habibi & Jimmy DeomWelcome to this episode of 20/20 Money! My guest on today’s show are Drs. Jimmy Deom and Roya Habibi. This conversation is a great one because, in addition to both being practicing optometrists, Jimmy and Roya are co-hosts of the popular optometry podcast Try Not To Blink, which I was actually privileged enough to be a guest on a couple of weeks ago. In this episode, we talk about each of their paths in optometry and their chosen specialties, what’s different about optometry than they anticipated coming into the profession, some of the biggest lesso...2019-05-061h 0820/20 MONEYUnderstanding the Financials of Your Practice to Make Smart Business DecisionsOn the show today is Amber Banks, co-founder of MW Banks Consulting. What’s awesome and unique about Amber is that she has an incredible depth of knowledge and experience in working with doctors to help them make smart financial decisions in their practice based on the financial metrics of their business. In this episode we “complete the life cycle” of a practice by talking about key financial considerations while still in school depending on whether you’re looking to buy an existing practice or start a practice cold, the key metrics of your practice that you should always understa...2019-04-2947 min20/20 MONEYWhy You Need a Professional Team with Dr. John OrmandoWelcome everybody, to another episode of 20/20 Money! On the show today I have Dr. John Ormando with Uppercut Consulting. John is co-owner of a successful private practice in Rhode Island that is one of the (if not the largest) single-location optometry practices in the country. What’s unique about John, though, is something that came to my attention while reading Optometric Management’s “Tip of the Week” which had a catchy title: “What I learned from Losing $300,000.” We talk about the experience that John went through in the financial markets which caused him that loss and how it equipped him with the...2019-04-221h 18
Try Not To BlinkEye Owe with Adam CmejlaCertified financial planner Adam Cmejla joins the podcast to talk through tackling student loan debt and more.SOURCES New Optometry Grad: https://newgradoptometry.com/freedom-student-loan-debt/General Survey: https://go.newgradoptometry.com/2017-optometry-students-and-optometrists-survey AOA Article: http://www.aoa.org/news/inside-optometry/carving-a-career-track-with-student-loan-debtManaging financing with Covalent Careers: https://covalentcareers.com/resources/managing-finances-optometry-student-loans/?__hstc=131338000.835d481d157861f105361244a7961411.1554268894514.1554268894514.1554268894514.1&__hssc=131338000.4.1554268894515&__hsfp=1112152704 Finance Basics: https://covalentcareers.com/resources/personal-finance-basics-optometrists-optometry-students/?__hstc=131338000.835d481d157861f105361244a7961411.1554268894514.1554268894514.1554268894514.1&__hssc=131338000.4.1554268894515&__hsfp=1112152704Loan Forgiveness Ending? https://www.forbes.com/sites/zackfriedman/2017/12/06/house-bill-student-loan-forgiveness/#48301c479906 Adam Cmejla - Integrated Planning & Wealth m...2019-04-151h 0020/20 MONEYBe Proactive with Tax PlanningIn this week’s show, it’s all about taxes! You’ll learn how our federal tax system works, the difference between someone’s “top tax bracket” and what their marginal tax bracket is, and the different types of taxes that you’re obligated to pay based off the income that you earn. I’ll also share with you different planning strategies to consider whether you found yourself getting a refund or having to pay. From there, I’ll explain the difference between underpayment, late filing, and late payment penalties and which one you absolutely want to avoid. And finally, for those...2019-04-1539 min20/20 MONEYManaging the Stress of Practice Ownership (and Life) with Dr. Steve Vargo, OD, MBAWelcome everybody to the first episode of the newly renamed/rebranded podcast “20/20 Money!” Since inception, this show has been called The Dose as it primarily discussed financial concepts and strategies that would apply to white coat professionals in the dentistry, optometry, pharmacy, and physician landscape. However, as we continued to record episodes, I started to realize that more and more of the content and ideas that we were discussing had a definite lean towards optometry…and as my presence as a wealth adviser in the optometric community continued to grow, I felt that it would be appropriate to rename and re...2019-04-0859 min20/20 MONEYUnderstanding Private Equity in Optometric Practice Sales with Michael Pote, CEO of The Growth CooperativeThis is part two of my conversation with Michael Pote of The Growth Cooperative. In this conversation we talk about the role that private equity has played in the transition and succession planning of optometry practices over the past couple of years. In this episode we discuss: What private equity is, how it works and a couple of different ways in which private equity is different than a traditional clinical buyer of your practice such as one of your associates, another optometrist in the same town, etc. The unique attributes private equity has w...2019-04-0141 min20/20 MONEYSo You Want to Sell Your Practice… with Michael Pote, CEO of The Growth Cooperative We’ve been on a roll lately in having some of our past guests share more of their knowledge and today is no different. This episode is part one of a two-part conversation with Michael Pote. You may remember Michael from episode 8, where we talked about several areas of practice management and what his organization The Growth Cooperative is doing to help optometrists across the country. Today we talk about all things related to selling a practice, specifically from a seller’s perspective. In this episode we discuss: Why selling isn’t an eve...2019-03-2539 min20/20 MONEYMaking the Most of Your Practice’s Retirement PlanWe’re back with another episode of The Dose. Today I have another returning guest, Josh Kegley with Retirement Plan Consultants. You may remember Josh from one of our earlier episodes where we talked pretty high level about the retirement plan space and the evolution that practice owners go through as it pertains to the various vehicles that they can utilize to build wealth inside of a retirement plan. Today, we get into the weeds on how to utilize a qualified retirement plan like a 401k to maximize the benefit to the practice owner. We start out di...2019-03-1839 min20/20 MONEYIncome Allocation: Saving vs Paying Down DebtIn this episode we talk about one of the most common questions I hear from optometrists: should I pay down debt or should I be saving for retirement? While every person’s situation is different, it’s important to understand the one theme and idea that’s constant in that equation: the time value of money and compounding interest. During the show, I’ll discuss: How compounding interest works, using a snowman as an analogy A hypothetical example showing the real cost of waiting The max number of years you should take to pay off stude...2019-03-1232 min20/20 MONEYEverything you needed to know about financing your practice with Dan Zone - VP/Senior Relationship Manager, Wells FargoIn this episode of The Dose Adam talks with Dan Zone from Wells Fargo about the many aspects of financing that medical professionals will experience throughout their career. What’s truly unique about Dan is that he almost entirely focused on these white coat professionals. Dan’s experience has allowed him to see many different financing arrangements and the unique lending circumstances that can exist in this world that do not necessarily exist for other professions. During our conversation we cover many topics including: Financing a startup versus acquiring a practice and the requirements for those transactions Purchasing an a...2018-11-0540 min
20/20 MONEYWelcome to The Dose!Welcome to the first episode of The Dose! With this being the first episode, you’ll find that this one is pretty concise. My intention with this show is to share with you the following: topics we’ll cover format of the show why we’ll be going “an inch wide and a mile deep” on how we cover the topics brief background on myself and my intention and motivation behind doing the show I have a number of other episodes already “queued up” so be sure to subscribe to get the latest show when it releases! Ou...2018-10-0716 min