"Must Read" Comprehensive Guides

Every successful investor need to have a solid foundation on important financial topics. This is why we create this sort of "Learning center" where we will create full comprehensive guides for high earning professional that we will update each year to keep with current legislations or IRS tax laws


This will cover the basics of each vital financial areas that the typical optometrist might encounter in his or her career.


 

Related Articles

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Annual Report 2024: In Review, and a Look at 2025!

Overview Dear ODoF Community! Can you believe it’s already one month into 2025?  First, we would like to acknowledge that annual reports normally go out at the beginning of the year, however with so many moving parts and exciting projects we had to delay this a bit – our apologies in advance! In 2024, we…

16 End-of-Year Financial Checklist For Optometrists In 2023

16 End-of-Year Financial Checklist For Optometrists in 2024

As 2023 draws to a close, it’s vital for optometrists to focus on financial planning for a stable and prosperous future. This checklist, designed for eye care professionals, will guide you through key year-end financial tasks. While not every item may apply to your practice or personal finances, reviewing each one ensures you don’t miss important opportunities or obligations.

Comparison Retirement & IRS Limits

Retirement & IRS Limits Comparison: 2024-2025

As we approach 2025, retirement contribution limits including 401(k)s, 403(b)s, SIMPLE IRAs, SEP-IRAs, HSAs, and FSAs, have been adjusted modestly due to stabilized inflation rates. While catch-up contributions for those aged 50+ remain indexed to inflation, the IRS has postponed a Secure Act 2.0 provision requiring high earners ($145,000+ in Social Security wages) to make Roth-only catch-up contributions until 2026. Notably, starting in 2025, individuals aged 60-63 can contribute the greater of $10,000 or 50% more than the standard catch-up amount, providing an opportunity to boost retirement savings during peak earning years.

What Should I Do First A Complete Guideline Step-By-Step For ODs

What Should I Do First? A Complete Step-By-Step Guide For Optometrists

Here is a “Guideline” list of financial steps that we hope will get you started, but should be adjusted to your own personal situation as an optometrist.

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10 Practical Strategies to Pay Off a $221K+ Optometry Student Loans in Less Than 5 Years (Updated for 2024)

KEY POINTS: Avoid “Doctor Lifestyle”: Live like a student a bit longer to build financial stability, even after graduating. Shift Your Mindset: Stop making excuses and take charge of your financial future by learning and applying financial principles. Refinance Loans to a lower rate with a goal to pay it off in 5-10 years. Stick…

Overview of the Optometry Student Loan Market June 2024

Overview of the Optometry Student Loan Market: June 2024

With the incoming class of new optometry doctors entering the profession last month, new graduates today are facing a steeper hill regarding their student loans. The latest 2023 Optometry Income Report shows an average student loan debt of around $230,000, with about 8% of doctors having a debt burden exceeding $300,000.

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2024 Optometrist Income Report

With increasing student loan debts, an ever changing economy, and a profession that continues to withstand disruption – many optometrists begin to question their associated worth as practitioners.  While the old phrase “comparison is the thief of joy” rings true in certain facets, comparison to get a true sense of trends in salary, debt load…

The Optometrist’s Guide To Student Refinancing

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.

October 2023 Market Update for Optometrists Latest Economic & Financial Trends

October 2023 Market Update for Optometrists: Latest Economic & Financial Trends

The economic landscape is characterized by a steady 3.7% inflation and cautious actions from the Federal Reserve, particularly in managing interest rates to avoid potential economic downturns. While some economic indicators like GDP growth appear robust, there’s a visible undercurrent of economic stress and mixed expert predictions regarding a potential recession in 2024.