We have received hundreds of messages asking us what to do regarding investments, student loans and practice ownership amidst current events.
We decided to create The Optometrist Resource to the COVID-19 Crisis to give you resources on every financial topic and concern that the coronavirus has created.
Happy "social distancing," and remember to keep a positive attitude. We will get through this!
Dat Bui, OD and Aaron Neufeld, OD
Co-Founders of ODs on Finance
Practice Management Articles
Is the 2020 Real Estate Market Like 2008?
Editor’s Note: This is a guest post written by one of our sponsorship partners. Josh Mettle NMLS #219996 is an industry leading author and ranked in the top 1% of mortgage originators in 2018 by Mortgage Executive Magazine. You can get more great real estate and mortgage advice here or by visiting his book’s website. Josh is also a…
How to Certify your Weekly Unemployment (UI) Claim: Step by Step Guide
Disclaimer: This form was filled out for my personal circumstances, your situation may be identical or slightly different. Please use this merely as a guide. This reflects California’s EDD Certification claim – your state’s EDD may differ. Check this out first: Click Here to Read Part 1: How to Apply for Unemployment (UI) for CA…
CARES Act: Program Updates April 2020
[Disclaimer] This article was written to the best of our knowledge with the latest news released from the Federal government. There are many moving parts to both of these programs, and as the days and weeks pass, there may be more clarification to some parts that are vague or confusing. Please be mindful, that I…
Dummies’ Guide to Filling Out the Paycheck Protection Program Application
[Disclaimer] This article was written to the best of our knowledge with the latest news released from the Federal government. There are many moving parts to both of these programs, and as the days and weeks pass, there may be more clarification to some parts that are vague or confusing. Please be mindful, that I…
Getting Cash For Your Small Business Through The CARES Act
Many optometric offices have faced a COVID-19 related closure that has forced both owners and employees to seek unemployment benefits from the state. Business owners are also faced with the financial challenges to keep their businesses viable while continuing to pay for fixed expenses. On March 27, 2020, President Trump signed the $2 trillion stimulus…
How the CARES Act impacts optometrists
[Editor’s Note]: This is a guest post written written by Adam Cmejla, CFP®, one of our sponsorship partners. 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 and upheld to the highest standards of ODsonFinance. Your trust is…
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Student Loan Articles
8 Financial Lessons that I Learned during COVID-19
As we approach the end of August, we have experienced the worst market down-spiral in mid-March since the 2008 housing recession, with a -20% stock market crash. Luckily, year to date (YTD), the S&P 500 index has recovered nicely to roughly baseline. While we are not out of the woods yet, I have learned some important financial lessons, both as an investor and as an individual during this once-in-a lifetime catastrophe. Here are 8 things the pandemic has taught me.
Federal Student Loan Servicers Get Fired! Chaos Could Extend Student Loan Relief
As we approach September 30, 2020, when the temporary 0% Federal student loan and forbearance period are both expected to end, here are some important updates:
Key Points:
DeVos fires all 4 major loan servicers that handle federal student loans starting December 14, 2020.
What to expect when receiving a welcome letter from your new servicer and what to do?
10 year PSLF Borrowers: Download your payment history before End of 2020
Student Loan servicers chaos could extend student loan relief
Refi Student loans are trending lower
Student Loan May Updates: Fedloan Credit Score Mistake, New Borrower Lower Rates, Private Refi Lower Rates & HEROES Act
As we are approaching the 2-Month mark of the COVID-19 shelter in place, there have been a lot of changes in the world of student loans. Here are the latest updates: (1) Mistake on automatic forbearance of FedLoan accounts can negatively affect your Credit Report Upon passage of the CARES Act, there were 4 main…
CARES ACT: Student Loan Repayment Benefit up to $5,250 annually +Lower Re-Fi Student Rates
[Disclaimer] This article was written to the best of our knowledge with the latest news released from the Federal government. There are many moving parts to both of these programs, and as the days and weeks pass, there may be more clarification to some parts that are vague or confusing. Please be mindful, that I…
How to Certify your Weekly Unemployment (UI) Claim: Step by Step Guide
Disclaimer: This form was filled out for my personal circumstances, your situation may be identical or slightly different. Please use this merely as a guide. This reflects California’s EDD Certification claim – your state’s EDD may differ. Check this out first: Click Here to Read Part 1: How to Apply for Unemployment (UI) for CA…
The Federal Reserve Just Slashed Interest Rates to 0%, What Does This Mean for Me?
March 2020 is shaping to be one of the craziest months our country has experienced in quite a while. There is no doubt that these next few weeks will find their places in US History books that our children and grandchildren will study in the future. With widespread quarantine efforts by the government and CDC,…
Webinars on COVID-19 + CARES Act
Adam Cemejla CFP Webinar
In this episode/Live event, Adam Cmejla, CFP, answers questions regarding the CARES Act. Insight is given on the Paycheck Protection Program (PPP), Economic Injury Disaster Loan (EIDL), SBA Debt Relief and unemployment
Emergency Economic Injury Grants (EEIG) How to Step by Step Application for $10,000 Grant
In this video guide, Julie Phan OD walk us though the steps on to fill out the EEIG Application for your practice
Resources from Around the Community
AOA COVID 19 webinar
What ODs need to know about new sick leave, FMLA requirements and financial support options for practices
Click here to Watch the Webinar
Presentation (PDF)
PECAA COVID-19 Optometry Resources
Operational and HR resources for practice owners, in addition to latest update for CAREs
California Optometric Association Resource Center
Latest Information and Resourced for CA optometrists