To Get Started on Your Financial Journey, Follow These Simple Steps...
-Dat & Aaron | Co-Founders
This rapidly growing community, boasting over 18,000 optometrists, is eager to assist with your financial inquiries. We offer advice on investment strategies, student debt management, and provide support and encouragement. Additionally, Dat and Aaron are available daily for direct, additional help.
If you wish to share your financial situation anonymously, please send us a direct message on Facebook for any private member posts!
2. Subscribe To Our Financial Newsletter
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3. Start With This Article And Keep on Reading the Latest Posts!
Through education, discussion, and tools, ODs on Finance strives to be a comprehensive resource for all finance-related matters. We aim to empower every optometrist, whether as an employee or practice owner, to achieve their full potential in their careers. Our objective is to help our colleagues in optometry and other healthcare professions live debt-free, financially liberated lives, and build substantial net worth. Financial freedom is one of the most valuable gifts you can give to yourself. Start learning today!
The Practice Owner’s Financial Overview: A Comprehensive Percentage Breakdown Guide of COGS, Operating Expenses, & Net
KEY POINTS: (1) Cost of Goods Sold (COGS) typically ranges from 26% to 32% of gross revenue, varying by practice focus (retail vs. medical). (2) Operating Expenses often break down into: Staff (18-24%), OD Payroll (14-20%), Occupancy (5-8%), and Marketing (1-2%). (3) Net Income falling within 27-35% of gross revenue indicates solid profitability and efficient…
Methods of Valuing an Optometry Private Practice: A Comprehensive Guide
Valuing an optometry private practice is essential for many purposes, whether it be the sale or purchase of a practice, partnership buy-ins, securing loans, or planning for retirement. Ultimately a practice sells for a price that both the buyer and seller deem to be equally fair. However, there needs to be a starting point. Determining a fair value requires a detailed understanding of the business’s financials, market conditions, and intangible assets. Here, we explore several commonly used methods for valuing an optometry private practice, each with its unique considerations.
Optometrist 📊 Income Report 2025 | Largest Sample Size 2,203+ ODs
We’re thrilled to share our largest Optometry Income & Salary Survey yet-2,203 doctors provided insights on key factors like student loan ROI for students, fair compensation, and the true impact of annual income on our profession. This year, we normalized earnings by days worked to give a clearer picture of each OD’s real income potential. What You’ll…
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 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.
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.
4. Check Out ODs on Finance Book Series
These books strives to teach student, young and experienced optometrists financial topics that were never taught in school, ranging from strategies on how to use a high-income salary to attack massive student debt, budgeting and saving for retirement, avoiding predatory advice from financial advisers, using tax strategies to save money, creating passive income, stepping into private practice ownership and how to build wealth through long-term investing in an ever-changing optometric world.
Clinical anecdotes and straightforward advice will keep students and new graduates entertained page after page while teaching important financial lessons to avoid potential pitfalls.
5. Refinance Your Student Loans Today to Save Money!
Great news! Aaron and Dat were able to negotiate and advocate for the best term rates and cash back bonuses for all ODs on Finance members/users looking to refinance their student loans.
Starts thousands worth on interest and get up to $1000 Sign-Up Bonus today!
6. Need Help with a doctor's home mortgage, disability/life insurance, or a tax CPA?
Whether you're in search of top refinancing lenders, insurance brokers, real estate assistance, tax professionals, or a book recommendation, this exceptional list of Recommended Resources is tailored for optometrists and other high-earning professionals. Aaron and Dat diligently vet each partner to ensure they uphold ethical standards and adhere to our stringent principles.
If you're seeking trusted and experienced professionals and services, you're in the right place!
Explore our upcoming virtual webinars, where we provide more than 50 hours of CE hours and financial webinars. Enjoy all of these for free and from the comfort of your own home!
8. Are You A Practice Owner? Or Opening Cold?
Unlock the full potential of your optometry practice with unbeatable, negotiated rates and unrivaled financial resources - all under one roof! Get access to the LOWEST Equipment pricing 100% FREE.
Don’t forget to join our Free Cold Start Accelerator!
