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
How to Apply for Unemployment (UI) for CA Optometrists (Step by Step Guide)
[Disclaimer] This article was written to the best of our knowledge with the latest news released from the Federal government. Some information may change/modify so we will keep the information updated to the best of our ability On March 26, 2020, To further alleviate the unemployment crisis, the senate approved a $2 Trillion stimulus package which includes an expansion…
The Optometrist’s Guide to Performing and Billing Telehealth Exams during COVID-19
In a time of crisis, where routine exams and contact lens fits are considered to be non-essential, many eye care providers are scrambling to find ways to at least keep a little bit of cash flow going for their practices. While delivery and curbside material pickup gives a slight boost, many practitioners are wondering how…
My Office is Closed; I am Out of Work, What Do I Do?
[Disclaimer] This article was written to the best of our knowledge with the latest news released from the Federal government. Some information may change/modify so we will keep the information updated to the best of our ability On March 17, 2020, the CDC and subsequently the AOA has urged all non-essential eye care providers to…
How does the “Families First Coronavirus Response Act” affect me?
In the past week, small businesses across America are feeling the financial impact from coronavirus restrictions that placed millions of people at home – avoiding non-essential activities, even visits to their eye doctors. As optometrists, we are in one of the highest risk categories for transmission and contraction of the virus. We are also responsible…
COVID-19 Has Closed My Practice, What Should I Do?
We are experiencing uncharted territory as the coronavirus pandemic continues to ravage the economy, health and mental stability of the American population. As of March 23, 2020, multiple states have issued “Shelter in Place” acts which limit business operations to essential businesses only. The big concern that arises for practice owners from extended closures/minimum operation…
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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