The Optometry Money Podcast

Questions? Thoughts? Send a Text to The Optometry Money Podcast! [https://www.buzzsprout.com/twilio/text_messages/1970676/open_sms] Evon provides optometrists a deep dive into 529 plans and other methods of saving and paying for your kids' college costs. He dives into the rules of how 529 plans work, the federal and state tax benefits of using 529 accounts, how to use the funds in the account, creative planning opportunities for 529 plans, the use of taxable investment accounts in preparing for your kids' college. Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at podcast@optometrywealth.com [podcast@optometrywealth.com]. Check out www.optometrywealth.com [https://optometrywealth.com/] to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow and debt, build their net worth, and plan purposefully around their money and their practices.  Resources mentioned on this episode: * IRS 529 Plans: Questions and Answers [https://www.irs.gov/newsroom/529-plans-questions-and-answers] * Education Data - College Tuition Inflation Rate [https://educationdata.org/college-tuition-inflation-rate] * Education Data - Average Costs of Tuition & College [https://educationdata.org/average-cost-of-college] * Saving For College - Federal School Code Lookup Tool [https://www.savingforcollege.com/eligible-institutions] The Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

Questions? Thoughts? Send a Text to The Optometry Money Podcast! [https://www.buzzsprout.com/twilio/text_messages/1970676/open_sms] In this rewind of a popular episode, Evon dives into mid-year tax planning targets optometrists and practice owners should keep an eye on as we work through the rest of the year.  He talks through specific points of planning he thinks about as he works with clients and their tax professionals, including: * Trajectory and sources of income * Are we on track for tax payments and withholdings? * Adjusted gross income (AGI) and phaseouts for deductions and credits * Opportunities around itemized deductions, especially donations to charity *  Taxable income and tax brackets * Qualified Business Income deduction and potential phase outs * And more!  Hopefully this helps you have productive conversations with your own tax professional, financial advisor, and other professionals in your corner!  Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at podcast@optometrywealth.com [podcast@optometrywealth.com]. Check out www.optometrywealth.com [https://optometrywealth.com/] to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow and debt, build their net worth, and plan purposefully around their money and their practices.  Resources mentioned on this episode: The Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

Questions? Thoughts? Send a Text to The Optometry Money Podcast! [https://www.buzzsprout.com/twilio/text_messages/1970676/open_sms] In this episode of The Optometry Money Podcast, host Evon Mendrin welcomes back Dr. Chad Fleming to dive into a strategy for private practice optometrists: private label products. Dr. Fleming shares his insights into how practice owners can introduce private label lenses, frames, and other products to their offerings. They discuss the financial and operational benefits, including improved margins, reduced costs, and increased flexibility, while still delivering top-quality care to patients. You'll learn: * What private label products are and why they're gaining traction. * How they compare to big-name brands in quality and performance. * Practical steps for selecting and implementing a private label line in your practice. * Common red flags and mistakes to avoid when exploring this option. Whether you're curious about adding private label products to your practice or are looking for ways to maximize profitability in your optical, this episode is packed with actionable advice and real-world examples. Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at podcast@optometrywealth.com [podcast@optometrywealth.com]. Check out www.optometrywealth.com [https://optometrywealth.com/] to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow and debt, build their net worth, and plan purposefully around their money and their practices.  Resources mentioned on this episode: * Email: chad@pipgpo.com * Chad Fleming: Partners in Profit [https://pipgpo.com/team/#:~:text=Chad%20Fleming%2C%20OD%2C%20FAAOFounder%20%2F%20CEO&text=Along%20with%20practicing%20optometry%2C%20Dr,OptometryCEO%20and%20Partners%20In%20Profit.] * Review of Optometry: Can Private Label Save Private Practice? (2002) [https://www.reviewofoptometry.com/article/can-private-label-saveprivate-practice] * Schedule an Introductory Call with Optometry Wealth Advisors [https://optometrywealth.com/contact/] The Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

Questions? Thoughts? Send a Text to The Optometry Money Podcast! [https://www.buzzsprout.com/twilio/text_messages/1970676/open_sms] What do presidential elections mean for your investments? What actions should you take during an election year? In this rewind of a popular episode, Evon provides context for this common question by diving into the historical behavior of US stocks related to US presidential elections. He dives both into the short-term results - looking at the months and years around the elections, as well as a longer-term  perspective. Ultimately, stocks - publicly traded businesses - have rewarded long-term, patient investors over long-term periods of time, regardless of the politician in office. Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at podcast@optometrywealth.com [podcast@optometrywealth.com]. Check out www.optometrywealth.com [https://optometrywealth.com/] to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow and debt, build their net worth, and plan purposefully around their money and their practices.  Resources mentioned on this episode: * Slides: Market Returns During Elections [https://optometrywealth.com/wp-content/uploads/2024/06/Market-Returns-During-Elections-Slides.pdf] * DFA's Presidential Elections: What Do They Mean for Markets? [https://www.dimensional.com/us-en/insights/presidential-elections-what-do-they-mean-for-markets] * DFA: How Much Impact Does the President Have on Stocks? [https://www.dimensional.com/us-en/insights/how-much-impact-does-the-president-have-on-stocks] (Interactive) * DFA Webcast Highlights: What History Tells Us About Elections and the Market [https://www.dimensional.com/us-en/insights/highlights-what-history-tells-us-about-elections-and-the-market] * A Wealth of Common Sense: Don't Mix Your Politics With Your Portfolio [https://awealthofcommonsense.com/2020/10/dont-mix-your-politics-with-your-portfolio/] The Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

Questions? Thoughts? Send a Text to The Optometry Money Podcast! [https://www.buzzsprout.com/twilio/text_messages/1970676/open_sms] Jackson Pace, CPA, and Kevin Dang, CPA of Refractional CFO join Evon on the podcast again to dive into a common question - can you (or should you) buy a vehicle under your optometry practice for the tax deduction? They dive into: * What's required to deduct the cost of a vehicle in the practice * Basics of how depreciation works * What happens when you sell or transfer the car out of the practice * Business use vs. personal use of the vehicle * Non-tax considerations when you own a car under your practice * And more!  Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at podcast@optometrywealth.com [podcast@optometrywealth.com]. Check out www.optometrywealth.com [https://optometrywealth.com/] to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow and debt, build their net worth, and plan purposefully around their money and their practices.  Resources mentioned on this episode: * Refractional CFO Website [https://www.refractionalcfo.com/] * The Optometry Money Podcast Ep 96: Deep Dive Into Financial Due Diligence When Buying an Optometry Practice with Jackson Pace and Kevin Dang, CPAs [https://optometrywealth.com/podcast/the-optometry-money-podcast-ep-96-deep-dive-into-financial-due-diligence-when-buying-an-optometry-practice-with-jackson-pace-and-kevin-dang-cpas/] * The Optometry Money Podcast Ep 71: Viewing the Health of Your Practice Through the Eyes of a CFO with Jackson Pace, CPA [https://optometrywealth.com/podcast/the-optometry-money-podcast-ep-71-viewing-the-health-of-your-practice-through-the-eyes-of-a-cfo-with-jackson-pace-cpa/] * Schedule an Intro Call with Optometry Wealth Advisors [https://optometrywealth.com/contact/] The Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.