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Latest Announcement/Upcoming Events
Upcoming Virtual Masterclass Webinars
Tuesday, June 22 6:00 pm PT/9:00 pm ET (2hours)
CE Hours: 2
Course Title: Profit First Eradicating Practice Poverty
Instructor: Michael Kling, OD
We are excited to have private practice and business guru Dr. Mick Kling back for an electrifying 2 hours of COPE-approved CE on Profit First principles that will help build revenue and reduce debt in your practice.
Description: The number one financial challenge facing most optometric practice owners today is poor cash flow. Doctor owners often fall prey to focusing too much on top line revenue growth, while ignoring the increasing expenses and debt that often accompanies that growth. Without a plan, practice owners often find themselves living insurance check to insurance check, wondering how they're going to make payroll, financially overwhelmed and stressed out. This course presents a revolutionary new cash flow management system designed to immediately improve practice profitability, eradicate unnecessary business expenses and assist practice owners with managing their business debt.
ODs on Finance Member Rate: $29
Special $1000 Bonus Sign-up for ODs on Finance Members
Aaron and Dat are excited to announce that we have successful negotiate the highest $1000 Cash Back Bonus for our ODs on Finance Member from both Splash and Credible! Thank you for their support in our little OD Community!
Benefits:
- Free, fast and able to compare prequalified rates from multiple lenders under 2 minutes, without affecting your credit score. Get a final offer as little as 1 business day!
- Credible’s partner lenders do not charge prepayment penalties, loan application fees, or origination fees.
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Forbearance and discharge on death/disability is dependent on individual lenders
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Special Promo: Get up to $1000 bonus for loans over $100K, $500 Bonus if less than $100K loan by June 30, 2021
Requirements:
- All States eligible
*Disclaimer: To receive $1,000 welcome bonus, ODs on Finance readers must refinance a balance equal to or greater than $100K by April 30, 2021. If refinancing a balance below $100K, readers are eligible for a $500 welcome bonus.
Benefits:
- Fast and easy application online without affecting your credit score
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No application or origination fees, with no prepayment penalties
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Able to refinance as low as $5000 loan with no maximum limit
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Forbearance and discharge on death/disability is dependent on individual lenders
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*Bonus based amount of loan approved: $1000 Bonus for Loan refinanced must be $150,000 or more, otherwise $500 Bonus for loans greater than $100,000
Requirements:
- All States eligible
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LATEST ARTICLES
5 Tips for Avoiding an IRS Audit For Optometrists
Editor’s Note: This is a guest post written by Jose Diaz Caro – Optometry Practice Accountant, who is one of our tax experts partner. Feel free to connect with him! Aaron and Dat are extremely strict about guest requirements in that they must be educational and informative to our readers. Every guest post is vetted, read…
How Much Profit Should Rental Properties Generate?
KEY POINTS: (1) Check the Rent on Rentometer.com! Use the median to get an average expectation, or you can take the low number for a more conservative estimate. Depending on the time of year, as well as supply and demand, you may set your rental listing price accordingly. A higher market rent may stay on…
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Growing a practice and keeping it profitable requires an ever evolving mindset that embraces both technology and creativity. In this panel discussion with industry experts Dr. Ryan Gustus, Perry Brill and Steve Alexander; we discuss implementation and execution of strategies ranging from materials sales to insurance. The following key questions and points are covered: Speakers…
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As a company and forum founded in the fundamentals of investing, ODs on Finance has always sought to educate its audience on tried and true, historically and statistically proven investing strategies. However, in the modern age we are living in, the landscape of investing is changing. The relatively new asset class of cryptocurrency has raised a conundrum of mixed opinions and for good reason. While cryptocurrency as a whole lacks intrinsic value, and is tough to justify as an investment (based on the traditional definition of an investment); its wild volatility fueled by speculation has the capacity to make individuals extremely rich or dirt poor.
8 Financial Mistakes that New Optometrists Make
The average new optometrist graduates at an average age of 28 year old (significantly behind non-OD peers in terms of income generation), with an average student loan debt of over $220,000+, with little or no retirement investments. Often new grad optometrists find themselves practicing in oversaturated cities and most importantly without any formal financial education. This is the perfect storm that often leaves many doctors mentally overwhelmed and prone to devastating financial mistakes. In this article, we will address 8 common financial mistakes that new OD graduates make and how you can avoid them to be financially successful.
5 Things to Avoid During Your Career Search
We’re well into 2021, which means that we’ve moved past the dreaded year-that-shall-not-be-named and fourth year optometry students are nearing the finish line. The end of the school year means that most OD students have jobs lined up, are in the interview process, or are currently applying to jobs (at least they should be!). In the spirit of beginning the journey that is our optometric careers, the ODs on Finance team and I have come up with a brief article that highlights a few “DO NOTs” of the job search and how to address them.
ETFs vs. Mutual Funds
Wouldn’t that be great if investing was as interesting as a pay-per-view UFC fight? Sadly, this is not the case. Investing is far more boring, and unless you give up a pretty penny, we don’t anticipate Joe Rogan will be providing color commentary on your trades and unrealized gains.However, now that we have your attention with a cheesy two paragraph intro, let’s go through a two minute education on the difference between an ETF and an Index Mutual Fund.
America Rescue Plan Stimulus Bill: Five Student Loan Updates
KEY POINTS: (1) No $10,000 Student Loan Forgiveness (2) Temporary Tax Relief for Student Loans Forgiveness until January 1, 2026 (3) Biden hasn’t extended the 0% payment and interest CARES student loan freeze, so the bill is still set to expire by the end of September 30, 2021. (4) Small Business Relief For Business Owners…
The Customizable Profit & Loss Spreadsheet that Every OD Practice Owner Should Have
By popular demand, here is a copy of my Profit and Loss Statement spreadsheet that I use at my offices. I track my income and expenses very diligently and this has made applying for programs such as PPP loans and COVID relief grants easier since I can compare changes in revenue year by year. In…
