2022 in Review, and a Look at 2023!
It’s hard to believe, but the year 2022 has vanished in the blink of an eye. This past year, we’ve had the pleasure of seeing ODs on Finance continue to grow and help ODs on their financial journey, whether they be new grads or seasoned veterans. We are thankful for your attention, your questions and your contributions. Two tenets that hold paramount value to us at ODs on Finance are transparency and productive growth. In this letter, we will highlight how our community has grown, the various methods we provide value to our community, exciting new projects/acquisitions for 2023, and a look at our commercial interests/disclosures – trust us, you’ll want to read this! Here is a quick recap of 2022!Read More
6 Common Tax Mistakes That Optometrists Make
Optometrists are not trained in maximizing their tax benefits. Consequently, doctors who prepare their taxes themselves may miss many deductions they are entitled to take. I don’t know about you, but I want to take advantage of all the tax benefits I am entitled to. Following are six mistakes I see optometrists make that are costing them a lot of money in overpaid tax bills.Read More
10 Things Your Optometry Lawyer Wants You to Know About
Putting yourself in the best position possible to be successful involves getting professional help, and an optometry attorney can be a vital part of your team of professionals.Read More
Action Plan: What To Do with My Optometry Student Loans Before 2023?
Our inbox has been getting slammed with ODs asking for advice on what to do with their federal student loans as we get closer to the 0% forbearance expiration date of 12/31/22. Politics aside, based on the most recent federal news which removes a lot of uncertainty that we had last month, we are going to break it down with some actionable plans that optometrist can take:Read More
The Optometrist’s Guide to Short Term Investing
With the recent volatile market and pending economic recession, many investors are looking to hold their cash in a relatively safe place, especially as our economy faces surging inflation. In this article, we will talk about short term investments and where we can place these funds, aside from just storing cash. What is a short-term investment?Read More
What Should I Do First? A Complete Guideline Step-By-Step
Personal finance is called personal for a reason; it is just as much a science as it is an art (similar to prescribing glasses). But seriously, this is probably one of the most difficult decisions that a lot of doctor investors will face and has starved me of sleep a lot – simply deciding which…Read More
2022-2023 IRS limitations for Optometrists
With inflation rising at all time highs, it definitely seem that the IRS is adjusting quite drastically for most of these accounts for 2023! While all of these limits might seem higher, remember that it is mainly keeping up with inflation, which the consumer index is estimated at 8%. in 2022. Please use these important limit to adjust your financial planning for 2023 especially for any retirement plans!Read More
The Optometrist’s Guide To Student Loan Refinancing
Optometrists often accumulate multiple loans from federal and private lenders to fund their doctor education, which results in an average debt load of $220,000. The majority of these loans are federal loans which have an average interest rate of 5.5-6.8%.Then the majority of doctors will end up refinancing their student loans to save thousands of dollars in interest. Here is your comprehensive guide to the student loan refinancing process and understanding how underwriting works.Read More
7 Optometry Student Loan Updates Before End of 2022
I cannot believe that it is the end of 2022. It has definitely been a crazy past 2 years with a lot of ever-changing federal legislations regarding student loans. As we approach the federal 0% interest benefit expiration date on January 31, 2022, here are some 7 new updates in the world of optometry student loans.Read More
What Happens to My Optometry Student Loans if I Die, Become Permanently Disabled, or Become Bankrupt?
Optometrists graduate with an average of $200,000+ in student loan debt, usually at a federal interest rate of 6.8%.. It is no wonder why many optometrists are worried about not being able to pay off their massive debt if they are unable to take home a large doctor’s salary. Even more fearful, a lot of ODs are worried that their loved ones will be stuck with their debt upon their passing or permanent disability.In this article, we will clear up some misconceptions around student loans (both federal & private) in regards to death and permanent/total disability.Read More