Podcast
The Optometry Money Podcast
Hosted by Evon Mendrin CFP®, CSLP® · EN
Welcome to the Optometry Money Podcast, hosted by Evon Mendrin CFP®, CSLP®, where he helps optometrists make better decisions around their money, careers, and practices. He explores cold-starts, practice buy-ins, career decisions, tax planning, student loans, and other money issues ODs are navigating.
Evon cold-started Optometry Wealth Advisors LLC, a financial planning firm dedicated to help optometrists nationwide master their money, build wealth, and plan purposefully with their finances. Learn more about the show, and Evon, at www.optometrywealth.com.
24episodes
Episodes
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How to Maximize Your Optometry Practice Value Before You Sell with Erich Mattei
4w ago01:00:57Tap to summarizeQuestions? Thoughts? Send a Text to The Optometry Money Podcast! We'll answer your question on the show.Whether you're five to ten years from exiting your optometry practice or just starting to think about it, the decisions you make right now have a major impact on what your practice is ultimately worth. In this episode, Evon is joined by Erich Mattei of Akrinos — a returning guest who specializes in practice transitions and valuations — to break down the key levers practice owners should be focused on long before they're ready to sell. From profitability and expense benchmarks to payor mix, capital expenditure, and add-backs, this conversation gets into the mechanics of how fair market value is actually determined and what you can do to improve it.What You'll LearnHow fair market value for an optometry practice is determinedThe two primary drivers of practice value: profitability and capital expenditureKey expense benchmarks for COGS, occupancy, non-doctor payroll, and general overheadWhy growing revenue matters — and why growing the right revenue matters even moreHow payor mix and cash pay percentage affect practice value and buyer negotiationWhat add-backs are and why minimizing seller discretionary spend before exit is criticalHow associate doctors and full-time equivalent coverage factor into valuationWhy outdated equipment can undermine an otherwise profitable practiceKey TakeawayThe time to prepare your practice for sale is long before you're ready to sell. The ODs who get the most at exit are the ones who ran their businesses like a business — with clean financials, controlled expenses, growing revenue through the right channels, and a practice that a buyer can step into with confidence.ResourcesErich Mattei / Akrinos: contact@akrinos.comAkrinos 360 Due Diligence Resource — reach out to Erich directly or contact Evon at podcast@optometrywealth.comAkrinos WebsitePodcast Ep 50: Guide to Due Diligence on Practice Purchases with Erich MatteiPodcast Ep 80: Intro to Optometry Practice Valuations with Erich MatteiWant a more proactive approach to your planning?You can schedule a no-commitment introductory call to discuss what's on your mind financially and learn how we help optometrists navigate those same decisions nationwide.👉 Schedule an introductory callThe Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.
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How to Stop Scrambling at Tax Time: An Optometrist's Guide to Quarterly Tax Payments
Apr 1600:20:51Tap to summarizeQuestions? Thoughts? Send a Text to The Optometry Money Podcast! We'll answer your question on the show.It's tax day — and whether you're celebrating a finished return or still working through an extension, tax payments are on your mind. In this episode, we walk through a practical framework for planning your quarterly estimated tax payments so you're not scrambling, stressed, or surprised come tax time. We cover the two ways ODs pay taxes through the year, IRS safe harbor targets to avoid underpayment penalties, and a simple system to automate the whole process so you stay ahead all year long.What You'll LearnThe two ways ODs pay federal taxes through the year — payroll withholdings vs. quarterly estimated paymentsWhich payment method applies based on how you practice (W2, sole prop, S Corp)The three IRS safe harbor targets that protect you from underpayment penaltiesHow to calculate your quarterly payment amount step by stepHow to set up a dedicated tax savings account and automate depositsWhere quarterly tax payments fit in your practice's cash flow priority orderHow to adjust your payments as income changes through the yearThe importance of working proactively with your professionalsKey TakeawayThe biggest tax payment headaches come from not having a system. Pick your safe harbor target, calculate your quarterly amount, automate deposits into a dedicated tax account, and adjust as you go. It's not glamorous — but it's how you move from reactive and stressed to in control.And keep in close contact with your financial and tax professionals to make sure you're making proactive decisions with tax payments and planning throughout the year!Resources & LinksIRS Pay OnlineIRS Form 2210 — Underpayment of Estimated TaxSchedule a call with Optometry Wealth AdvisorsThe Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.
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(Rewind) An Optometrist's Guide to Business Entities
Apr 100:35:25Tap to summarizeQuestions? Thoughts? Send a Text to The Optometry Money Podcast! We'll answer your question on the show.In this replay of a popular 2023 episode, Evon revisits an important topic for optometry practice owners and independent contractors - the differences between different business entities!How do the different business entities work? How are they taxed? How are they different?In this episode, Evon provides optometrists a basic guide to the differences between:Sole ProprietorshipsPartnerships Limited Liability Companies (LLCs)S-CorporationsCorporationsIf you own an optometry practice or are an independent contractor, hopefully this episode brings some clarity around how the different types of businesses operate. Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at evon@optometrywealth.com.Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow and debt, build their net worth, and plan purposefully around their money and their practices. Resources mentioned on this episode:The Optometry Money Podcast Ep. 47: An Optometrist's Guide to How Income Taxes WorkIRS.Gov Reasonable Compensation for S Corporation OfficersIRS.Gov How to Apply for an EINThe Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.
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The Location-Independent OD: Compensation, Licensing & the Future of Remote Care with Crystal Edison, OD
Mar 500:45:43Tap to summarizeQuestions? Thoughts? Send a Text to The Optometry Money Podcast! We'll answer your question on the show.Remote optometry is growing fast - and there's quite a range of opinions on what that means for optometry. In this episode, I sit down with Dr. Crystal Edison, a remote optometrist practicing across nine states from her home office, to break down the ins and outs of providing comprehensive remote care. We cover contracts and compensation of remote ODs, how to navigate multi-state licensing, the technology involved, and Crystal addresses some of the most common myths about the quality and credibility of remote optometry.Whether you're a practice owner struggling to find associate coverage or an OD looking for more flexibility and independence, this one's worth a listen.What You'll LearnWhat comprehensive remote optometry actually looks like and how it differs from screening-only modelsHow remote ODs are compensated - W2 vs. 1099 roles and the financial trade-offs of eachKey contract negotiation considerations including malpractice coverage and reimbursementsHow to navigate multi-state licensing without a national compact (and tools like ARBO's CELMO that help)The technology investment needed on both the practice side and the remote OD sideHow practice owners can use remote staffing to fill empty chairs and reduce reliance on locumsCommon myths about remote care quality - and the clinical reality behind modern tele-optometryResources MentionedCrystal Edison on LinkedInEdison Remote Strategies — Crystal's course, The Remote OD BlueprintCrystal's Independent Strong article - Tele-optometry for Owners and AssociatesCELMO through ARBO — Council on Endorsement Licensure Mobility for OptometristsPodcast Ep. 2: Financial and Tax Planning for 1099 OptometristsPodcast Ep. 51: An Optometrist's Guide to the QBI DeductionPodcast Ep. 66: Retirement Plan Options for Independent Contractor OptometristsWant a more proactive approach to your planning?You can schedule a no-commitment introductory call to discuss what's on your mind financially and learn how we help optometrists navigate those same decisions nationwide.👉 Schedule an introductory callThe Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.
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Listener Q&A #2: S Corp Salary, How Much Practice Cash to Keep, Buying Practice Real Estate, and More
Feb 2700:33:00Tap to summarizeQuestions? Thoughts? Send a Text to The Optometry Money Podcast! We'll answer your question on the show.We're back with our second listener Q&A episode, tackling real questions from ODs around the country. From S Corp salary decisions and how much cash to keep in your practice, to buying your commercial real estate, preparing your practice for sale, and whether you're overfunding your kids' 529 plans — we cover a lot of ground in this one.Have a question you'd like answered on a future episode? Submit it at optometrywealth.com/podcastquestion.What You'll LearnWhat goes into determining a "reasonable salary" as an S Corp optometry practice owner — and why you should rely on your CPATwo practical methods for calculating how much cash your optometry practice should keep on handKey factors to weigh when deciding whether to buy your practice's commercial real estateWhat drives practice valuation and how to start preparing 10 years before you want to sellHow to build balance in your net worth over over time and not be overly concentrated in your practiceThe flexibility built into 529 plans that most ODs don't realize they haveKey TakeawayMany of these questions come down to the same principle: your practice's cash flow is your most powerful financial tool. Whether you're deciding how much salary to pay yourself, how much cash to hold in the business, or how to diversify your net worth — using that cash flow intentionally and efficiently is what moves the needle over time.Links & ResourcesSubmit a question for a future Q&A episodeIRS: S Corporation Compensation and Medical Insurance IssuesEp 139: Optimize Your Pay – 7 Key Factors for Setting Practice Owners’ CompensationIDOC Practice Cash Reserve White PaperIDOC How Should Optometry Practices Manage Cash?Ep 154: Trump Accounts for Kids - What Optometrists Need to KnowWant a more proactive approach to your planning?You can schedule a no-commitment introductory call to discuss what's on your mind financially and learn how we help optometrists navigate those same decisions nationwide.👉 Schedule an introductory callThe Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.
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Are Your Retirement Accounts Protected from Lawsuits? A Guide for Optometrists
Feb 2000:16:50Tap to summarizeQuestions? Thoughts? Send a Text to The Optometry Money Podcast! We'll answer your question on the show.As an optometrist—especially a practice owner—you face real liability exposure from both your professional work and your business. So how well are your retirement accounts and investments actually protected if something goes wrong? In this episode, we walk through the different layers of liability protection available to ODs and dive into exactly which retirement and investment accounts are shielded from creditors, which ones aren't, and where the common gaps and misconceptions are.What You'll LearnFour common layers of liability protection available to optometrists (entities, insurance, titling, and federal/state law)Why umbrella insurance is one of the most common gaps in OD insurance planningHow ERISA law protects 401(k) and cash balance plans—and why it's the gold standardWhy solo 401(k) plans do NOT carry the same ERISA protection (a common misconception)How SEP IRAs and SIMPLE IRAs fall short on liability protection compared to full 401(k) plansHow Traditional and Roth IRAs are protected in bankruptcy (and the current dollar limit)What happens to liability protection when you roll a 401(k) into an IRA—and a best practice for keeping those dollars separateHow HSAs, taxable brokerage accounts, and 529 plans are (or aren't) protectedSteps ODs should take now to review their liability exposureKey TakeawayNot all retirement accounts are created equal when it comes to liability protection. ERISA-covered plans like 401(k)s and cash balance plans offer the strongest, unlimited federal protection—making maxing those contributions both a tax strategy and a liability strategy. But accounts like solo 401(k)s, SIMPLE IRAs, and traditional/Roth IRAs don't carry that same blanket protection, and the gaps are highly state-dependent. Understanding where your dollars sit and how they're protected is an important part of your overall financial plan.ResourcesSubmit your questions for upcoming Listener Q&A episodes: OptometryWealth.com/podcastquestionReach out: podcast@optometrywealth.comWant a more proactive approach to your planning?You can schedule a no-commitment introductory call to discuss what's on your mind financially and learn how we help optometrists navigate those same decisions nationwide.👉 Schedule an introductory callThe Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.
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Trump Accounts for Kids: What Optometrists Need to Know
Feb 1400:19:12Tap to summarizeQuestions? Thoughts? Send a Text to The Optometry Money Podcast! We'll answer your question on the show.Congress created a brand new investment account for kids called Trump Accounts, and the questions from optometrists have been flowing in. In this episode, we break down exactly what these accounts are, how they work, who can contribute, and - most importantly - whether they actually add anything new to the lineup of options you already have for investing on behalf of your kids.What You'll LearnWhat Trump Accounts are and how they workWho can contribute, how much, and whenHow contributions are taxed (and why the after-tax structure matters)How employer contributions work - and potential hurdles for practice owners contributing to their own kids' accountsWhat happens when the child turns 18How Trump Accounts compare to existing options like UTMA/UGMA accounts, 529s, and custodial Roth IRAsThe best use cases for ODs, including the $1,000 federal seed money and Roth conversion planningKey TakeawayTrump Accounts aren't a game-changer, but they can definitely be a benefit for our kids. The biggest win is the $1,000 seed money for eligible kids and the renewed attention on starting retirement savings early. They don't replace anything already in your toolkit - think of them as one more option alongside 529s, custodial accounts, and Roth IRAs.Episode Chapters[00:00] Introduction[01:00] What are Trump Accounts?[02:00] When they're available and how to open one[02:30] Who can contribute and contribution limits[03:00] Why contributions are after-tax (and why that matters)[05:00] Employer contributions through your practice[06:00] Can practice owners contribute to their own kids' accounts?[07:30] Government and nonprofit contributions & the $1,000 pilot program[08:30] Investment options inside Trump Accounts[09:00] What happens when the child turns 18[10:00] Withdrawal restrictions and the ABLE account exception[10:30] How Trump Accounts compare to existing options for kids[14:30] Best use cases for optometrists[17:00] Final thoughts: The real positive of Trump AccountsResources MentionedIRS Form 4547trumpaccounts.govSubmit podcast questions: www.optometrywealth.com/podcastquestionContact: podcast@optometrywealth.comWant a more proactive approach to your planning?You can schedule a no-commitment introductory call to discuss what's on your mind financially and learn how we help optometrists navigate those same decisions nationwide.👉 Schedule an introductory callThe Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.
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How to Invest Tax-Efficiently and Keep More of Your Returns (After-tax)
Feb 500:26:38Tap to summarizeQuestions? Thoughts? Send a Text to The Optometry Money Podcast! We'll answer your question on the show.In this episode, we break down tax-efficient investing for ODs, showing you how to pair the right investments with the right accounts to maximize your after-tax wealth over your career.What You'll LearnTaxes can be the difference between two optometrists with identical investment returns ending up with vastly different retirement wealth. This episode breaks down how to invest tax-efficiently by pairing the right investments with the right accounts. You'll learn which investments create tax-inefficient income (bonds, REITs) versus more favorable income (stock index funds), and the strategy for placing them across your taxable accounts, pre-tax retirement accounts, Roth accounts, and HSAs. The key is treating all your accounts toward the same goal as one coordinated household portfolio instead of managing each separately. Key TakeawayDon't let the tax tail wag the dog. Start with good, prudent, evidence-based investments - then optimize their placement to minimize taxes along the way. The goal isn't to avoid all taxes; it's to maximize your after-tax wealth over your lifetime.Episode Chapters[00:00] Introduction: Why tax-smart investing matters for ODs[03:00] Why taxes matter: The real drag on your investment returns[05:00] Tax Layer 1: Understanding investment account types (taxable, pre-tax, Roth, HSA)[06:00] How different types of investment income get taxed[10:00] Tax Layer 2: Tax characteristics of stocks, bonds, and REITs[12:00] How fund management impacts your tax bill[16:00] Asset location strategy: Putting it all together[20:00] Common constraints and considerations[22:00] Mistakes to avoid when managing multiple accounts[24:00] Conclusions: Focus on good investing while managing taxesResources MentionedFree Download: Get Your OD's Guide to Tax-Smart InvestingInventory your accountsIdentify tax-inefficient holdingsEvaluate if investments are in the right placesReady for a Second Opinion?Want help reviewing your current setup? Reach out for a no-pressure conversation about whether your investments are working as tax-efficiently as they could be.Click Here to schedule your free consultation! Submit Your Question for Q&A Episodes! Have questions you'd want answered on the podcast?Submit your questions for future Q&A episodes: OptometryWealth.com/podcastquestionThe Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.
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Listener Q&A: Practice Ownership, Backdoor Roths, and Student Loans
Jan 3100:28:58Tap to summarizeQuestions? Thoughts? Send a Text to The Optometry Money Podcast! We'll answer your question on the show.In this first-ever OD listener Q&A episode, we tackle seven questions covering practice ownership, retirement accounts, student loans, and tax strategy. From why your practice is your most important investment to navigating the backdoor Roth IRA maze, we break down what actually matters for ODs at different career stages.Submit Your Questions to the Podcast:Submit your questions for future Q&A episodes: OptometryWealth.com/podcastquestionListener Questions We Tackle:What can younger optometry practice owners do to build wealth in the first few years of ownership?How are "backdoor" Roth IRA contributions recorded on an optometrist's tax return?Why does a traditional IRA "ruin" the "backdoor" Roth IRA contribution for optometrists?Why is a 401(k) plan "better" for optometry practices than a SIMPLE IRA?Are owner's distributions from optometry practices taxable?Should optometrists pay down student loans or save for practice ownership?If an optometrist is on the PAYE plan for student loans, does he/she need to switch repayment plans due to the One Big Beautiful Bill Act?Episode Chapters[00:00:52] What can younger optometry practice owners do to build wealth in the first few years of ownership?[00:06:08] How are "backdoor" Roth IRA contributions recorded on an optometrist's tax return?[00:09:01] Why does a traditional IRA "ruin" the "backdoor" Roth IRA contribution for optometrists?[00:12:29] Why is a 401(k) plan "better" for optometry practices than a SIMPLE IRA?[00:17:25] Are owner's distributions from optometry practices taxable?[00:20:42] Should optometrists pay down student loans or save for practice ownership?[00:25:34] If an optometrist is on the PAYE plan for student loans, does he/she need to switch repayment plans due to the One Big Beautiful Bill Act?Resources MentionedSubmit your questions for future Q&A episodes: OptometryWealth.com/podcastquestionThe Optometry Money Podcast Ep 151: How Filing Taxes Separately Impacts Student Loan Outcomes for OptometristsThe Optometry Money Podcast Ep 143: How the Final One Big Beautiful Bill Act Impacts Optometrists – Taxes, Student Loans, and More!The Optometry Money Podcast Ep 68: Financial Planning Considerations When Preparing for Practice OwnershipThe Optometry Money Podcast Ep 69: Financial Planning Considerations for the Early Years of Practice OwnershipThe Optometry Money Podcast Ep 70: Financial Planning Considerations for Owners of Established Optometry PracticesThe Optometry Money Podcast Ep. 49: An Optometrist’s Guide to Business EntitiesThe Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.
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How Filing Taxes Separately Impacts Student Loan Outcomes for Optometrists
Jan 2300:20:55Tap to summarizeQuestions? Thoughts? Send a Text to The Optometry Money Podcast! We'll answer your question on the show.Tax filing season is here, and for married optometrists planning toward student loan forgiveness, how you file your taxes can save you thousands of dollars per year. In this episode, we break down how tax filing status impacts your income-driven repayment calculations and when filing separately makes financial sense.Key Takeaways:The three core student loan strategies for optometrists: paying off like any other debt, pursuing forgiveness through income-driven repayment plans, or using a hybrid approach for specific cash flow goalsHow filing married jointly includes both spouses' income in the student loan calculation, even if only one spouse has loansFiling married separately allows you to exclude your spouse's income from the calculation, often resulting in dramatically lower monthly paymentsHow community property states offer even more student loan planning opportunities for optometristsThe additional tax costs of filing separately and how to compare them against student loan savings to make the right decisionCritical timing considerations for filing your tax return and student loansWhy filing an extension may make sense if you're unsure about your strategyChapters:00:00 Introduction 01:00 The Core Student Loan Strategies Optometrists Should Consider 03:50 Income is the Most Important Planning Lever for Income-Driven Repayment Plans 05:05 Filing Taxes Married Jointly Includes Both Spouse's Income in the Student Loan Calculation 06:00 How Filing Taxes Married Separately Allows for Better Student Loan Planning for Optometrists 07:00 Example of How Filing Separately Can Improve Optometrists' Student Loan Calculations 08:45 How Community Property States Magnify the Student Loan Planning Opportunities for Optometrists 12:00 Additional Tax Costs to Consider When Filing Taxes Separately 15:00 The Math - Compare the Student Loan Savings vs. Higher Tax Costs When Filing Separately 16:00 Next Steps for OptometristsResources mentioned:Click Here to Download Your Free 2025 Tax Filing Guide for OptometristsReady to work with a financial advisor who understands student loan and tax planning for optometrists? Click Here to Schedule a conversation.The Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.
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