To Get Started on Your Financial Journey, Follow These Six Simple Steps:
-Drs. Dat & Aaron, Co-Founders
This popular and rapidly growing community has over 7,000 Optometrists who are eager to help answer your financial questions, tips on how to invest and manage your student debt and finally to provide support and encouragement. Also Dat and Aaron are there daily to provide direct additional help.
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Through education, discussion and tools; ODs on Finance seeks to be a universal resource on everything finance related. We also seek to enable each and every optometrist to reach their true potential in their careers whether it be as an employee or practice owner. Our goal is to see our colleagues both in optometry and other healthcare fields living debt free, financially unrestricted lives with a high net worth.
Financial freedom is one of the greatest gifts you can give yourself. Start Learning today!
8 Financial Mistakes that New Optometrists Make
The average new optometrist graduates at an average age of 28 year old (significantly behind non-OD peers in terms of income generation), with an average student loan debt of over $220,000+, with little or no retirement investments. Often new grad optometrists find themselves practicing in oversaturated cities and most importantly without any formal financial education. This is the perfect storm that often leaves many doctors mentally overwhelmed and prone to devastating financial mistakes. In this article, we will address 8 common financial mistakes that new OD graduates make and how you can avoid them to be financially successful.
5 Things to Avoid During Your Career Search
We’re well into 2021, which means that we’ve moved past the dreaded year-that-shall-not-be-named and fourth year optometry students are nearing the finish line. The end of the school year means that most OD students have jobs lined up, are in the interview process, or are currently applying to jobs (at least they should be!). In the spirit of beginning the journey that is our optometric careers, the ODs on Finance team and I have come up with a brief article that highlights a few “DO NOTs” of the job search and how to address them.
ETFs vs. Mutual Funds
Wouldn’t that be great if investing was as interesting as a pay-per-view UFC fight? Sadly, this is not the case. Investing is far more boring, and unless you give up a pretty penny, we don’t anticipate Joe Rogan will be providing color commentary on your trades and unrealized gains.However, now that we have your attention with a cheesy two paragraph intro, let’s go through a two minute education on the difference between an ETF and an Index Mutual Fund.
America Rescue Plan Stimulus Bill: Five Student Loan Updates
KEY POINTS: (1) No $10,000 Student Loan Forgiveness (2) Temporary Tax Relief for Student Loans Forgiveness until January 1, 2026 (3) Biden hasn’t extended the 0% payment and interest CARES student loan freeze, so the bill is still set to expire by the end of September 30, 2021. (4) Small Business Relief For Business Owners…
The Customizable Profit & Loss Spreadsheet that Every OD Practice Owner Should Have
By popular demand, here is a copy of my Profit and Loss Statement spreadsheet that I use at my offices. I track my income and expenses very diligently and this has made applying for programs such as PPP loans and COVID relief grants easier since I can compare changes in revenue year by year. In…
New Targeted $10,000 EIDL Grants: Do You Qualify?
With the initial economic shock of the COVID-19 pandemic back in March 2020, the Emergency Injury Disaster Loan (EIDL) and subsequent grant programs funded by the CARES act received a lot of buzz. In the first round of the EIDL grant, businesses were granted $1000 per employee of their business, up to a maximum of $10,000. Recently, congress has allocated another $20,000,000,000 in EIDL grants (advances) in the new stimulus to allow businesses who received less than $10,000 to qualify for the full $10,000 grant, minus any amount already received. Let’s take a look at EIDL grants and common questions regarding them.
4. Buy the Official "The Optometrist's Guide to Financial Freedom" Book
Co-founders Drs. Dat Bui and Aaron Neufeld created this comprehensive blueprint on techniques to overcome financial obstacles facing optometry students, residents, practicing doctors and other high-earning professionals.
This book strives to teach both 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.
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 $750 Sign-Up Bonus today!
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Click Below to get Started!
6. Need Help with a Doctor's Home Mortgage? Disability/Life Insurance? Tax CPA?
Whether you are looking for the best re-financing lenders, insurance brokers, real estate help, tax professionals or a book to read- this wonderful list of Recommended Resources for Optometrists and other high-earning professionals has you covered!
Aaron and Dat work extremely hard to vet each partner to make sure they are ethical and adhere to our strict principles.
If you’re looking for trusted and experienced professionals and services to help you out!