Welcome to this episode of 20/20 Money! My guest on today’s show is Nathan Hayes with Books & Benchmarks and IDOC. On this show, Nathan and I RAGE!! That's right, we Rant Against Growth Excuses. We talk about the common headwinds, obstacles, and challenges that we both hear when talking with practice owners...and how to think about solving those issues by thinking differently about the challenges.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. If you’re interested in learning more about the 20/20 Money Financial Success Masterclass, a course & platform that we created to help ODs become “brilliant at the financial basics,” or are interested in learning more about how OD Masterminds creates space for real conversations, real accountability, and real growth, please check out the link in the show notes of this episode to learn more.

And with that introduction, I hope you enjoy my conversation with Nathan Hayes.

Resources:

IDOC Books & Benchmarks Link

How to increase the multiplier in your practice value with Nathan Hayes

How to use (and NOT use) benchmarks with Nathan Hayes

Edging in-house vs outsourcing: the economics, trade-offs, and data an optometric practice needs to measure with Drs. Jennifer Stewart, OD & Sam Hornberger, OD

Forget goal-setting and focus on purpose: a mindset conversation with Stephanie Bogan

10x Is Easier Than 2x: How World-Class Entrepreneurs Achieve More by Doing Less

Extreme Ownership: How U.S. Navy SEALs Lead and Win

20/20 Money Ultimate Financial Success Masterclass

OD Mastermind Interest Form

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Apple Podcasts

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For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!

Welcome to this episode of 20/20 Money! This week's episode is the recording of my presentation at NSUOCO, titled "Top 10 Tips for (Financial) Success for Optometrists."

Over the course of the year, I'm privileged to present in front of a variety of optometry schools' private practice clubs and classes. The purpose of the presentation is to help ODs understand the ABCs and 123s of personal finance and how to better understand the business of optometry so that, upon graduation, they are able to make educated and informed decisions about their money. Given that the content and lessons are pretty evergreen, I thought this would be a good "refresher" episode for listeners of the show—young and "seasoned" alike. Even though you won't have the Powerpoint deck to follow along, I tried to present the content in a way that would transfer well to the podcast. Special shout out to my producer Kyle for working his magic with the audio as well as Corbin Lill, a student at NSUOCO, for having me. If you are either in school or connected to a school and would like me to do a similar presentation, please email me at [email protected].

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. If you’re interested in learning more about the 20/20 Money Financial Success Masterclass, a course & platform that we created to help ODs become “brilliant at the financial basics,” or are interested in learning more about how OD Masterminds creates space for real conversations, real accountability, and real growth, please check out the link in the show notes of this episode to learn more.

And with that introduction, I hope you enjoy my live presentation from NSUOCO.

Resources:

20/20 Money Membership Information

OD Mastermind Interest Form

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Apple Podcasts

Spotify —————————————————————————————

For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!

Welcome to this episode of 20/20 Money!

What would I do if I were starting an optometric practice from the ground up? A listener posed the question—and I went deep. In this episode, I walk through everything from choosing the right location (hint: geography is everything) to building the skills that matter most when you’re just getting started.

We cover:

1. Why defining your Ideal Patient Avatar (IPA) is mission-critical

2. The underrated value of sales coaching and communication training

3. Why I’d buy a small-town practice instead of cold-starting in suburbia

4. The non-negotiables when assembling your professional advisory team

Whether you’re dreaming about opening your own practice or wondering how you’d do it differently if you had a do-over, this episode is full of real-world insight and practical advice.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. Lastly, if you’re interested in learning more about the 20/20 Money Financial Success Masterclass, a course & platform that we created to help ODs become “brilliant at the financial basics,” please check out the link in the show notes of this episode to learn more.

Resources:

20/20 Money Membership Information

OD Masterminds Request Form

Tim Ferriss Fear Setting

Jen Stewart from IDOC 2024

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Apple Podcasts

Spotify —————————————————————————————

For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!

Welcome to this episode of 20/20 Money! In this episode, we tackle the confusion around key financial numbers in your optometric practice and why it’s critical to have a common understanding of their definitions. From gross COLLECTED revenue, cost of goods sold, and net operating income, we explore the most important KPIs that influence your bottom line. Whether you’re looking to grow, improve efficiency, or just understand your business better, this conversation will help you create a clearer, more actionable financial dashboard.

We dive into:

1. Why “collections” and “gross revenue” are not the same thing

2. The 3-5 core numbers every practice owner should track consistently

3. How to think about net income in your practice as both the clinician and the owner

Stop guessing. Start tracking what actually matters.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. Lastly, if you’re interested in learning more about the 20/20 Money Financial Success Masterclass, a course & platform that we created to help ODs become “brilliant at the financial basics,” please check out the link in the show notes of this episode to learn more.

Resources:

20/20 Money Membership Information

OD Masterminds Information Request

————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms

Apple Podcasts

Spotify —————————————————————————————

For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!

Welcome to this episode of 20/20 Money! In today’s episode, we’re diving into the details of your tax return—beyond just whether you got a refund. We’ll break down the difference between deductions and credits, how our tax brackets work, why you should focus on Line 24—your total tax paid—instead of Lines 34 or 37, and what Line 38 might be telling you about penalties and interest. We’ll also highlight common areas for errors, clarify how the QBI deduction applies depending on your income level, and walk through important forms like Form 8960 for NIIT cancelation, Form 8889 for HSAs, and the health insurance deduction.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. Lastly, if you’re interested in learning more about the 20/20 Money Financial Success Masterclass, a course & platform that we created to help ODs become “brilliant at the financial basics,” please check out the link in the show notes of this episode to learn more.

Resources:

20/20 Money Membership Information

OD Masterminds Information Request

20/20 Episode #332 - Difference between Saving & Deferring Taxes

Planning for the QBI (199A) Deduction in your practice

Review of Optometric Business 199A Article

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Apple Podcasts

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For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!

Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Ted McElroy, OD. Ted and I share in a conversation that's on the heels of a 2 hour CE session I did at SECO 2025, which was titled The Art of Delegation. We talk through why practice owners get stuck on delegation, ways to think about becoming more comfortable delegating, the true cost of NOT delegating, and some NBSs for you to think about around this very important topic.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. Lastly, if you’re interested in learning more about the 20/20 Money Financial Success Masterclass, a course & platform that we created to help ODs become “brilliant at the financial basics,” please check out the link in the show notes of this episode to learn more.

And with that introduction, I hope you enjoy my conversation with Dr. Ted McElroy, OD.

Resources:

20/20 Money Membership Information

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Apple Podcasts

Spotify —————————————————————————————

For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!

In this episode, we break down the common misconception that tax deferral is the same as tax savings—spoiler alert: it’s not. We discuss how strategies like funding retirement plans, loss harvesting, and depreciation only push taxes into the future, while true tax savings come from tools like QCDs, business deductions, and Roth account growth. We explore when deferring taxes makes sense, and when it might actually cost you more in the long run.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. Lastly, if you’re interested in learning more about the 20/20 Money Financial Success Masterclass, a course & platform that we created to help ODs become “brilliant at the financial basics,” please check out the link in the show notes of this episode to learn more.

Resources:

20/20 Money Membership Information

OD Masterminds Information Request

The Augusta Rule

20/20 Money Episode #319 – Year-End Tax Planning Concepts & Strategies to Minimize Tax Stress with JR Armstrong, CPA

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For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!

Welcome to this episode of 20/20 Money! My guest on today’s show is Daniel Palmer. Daniel joins me back on the show to talk through a growing service and role in small businesses (optometry included), which is the Fractional C*O service. I use the * to depict the fact that this role could be Chief Operating, Marketing, Information/Technology, and yes Financial Officer. We talk about the differences between a consultant and a fractional C*O and how to think about each of those roles in your organization, how a practice can think about if & when they're ready to add that relationship to their leadership team, and the value that this role should be providing in an organization.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. Lastly, if you’re interested in learning more about the 20/20 Money Financial Success Masterclass, a course & platform that we created to help ODs become “brilliant at the financial basics,” please check out the link in the show notes of this episode to learn more.

And with that introduction, I hope you enjoy my conversation with Daniel Palmer.

Resources:

20/20 Money Masterclass Information

————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms

Apple Podcasts

Spotify —————————————————————————————

For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!

Welcome to this episode of 20/20 Money! My guest on today’s show is Rick Norwood, founder & President of Norwood Device & Diagnostics. Rick joins me on the show to talk through an often-discussed topic in practice ownership, and that is the responsible purchasing of equipment. We talk through how practice owners should evaluate various suppliers, the cadence and frequency of replacing and upgrading your equipment, and how to avoid purchasing "buyer's remorse" through the process.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. Lastly, if you’re interested in learning more about the 20/20 Money Financial Success Masterclass, a course & platform that we created to help ODs become “brilliant at the financial basics,” please check out the link in the show notes of this episode to learn more.

And with that introduction, I hope you enjoy my conversation with Rick Norwood.

Resources:

20/20 Money Masterclass Information

Norwood Device & Diagnostics

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Apple Podcasts

Spotify

Google Podcasts

Stitcher  —————————————————————————————

For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!

Welcome to this episode of 20/20 Money! My guests on today’s show are Drs. Jennifer Stewart & Sam Hornberger, both private practice owners in their respective practices.

Sam and Jennifer join me on the show to talk about a topic that admittedly, in over 300 episodes of 20/20 Money, I haven't talked about yet: edging and the decisions around whether to bring edging in-house or continue to outsource it to your lab. We talk through how each of them made the decision to bring edging in-house—Sam making the decision after years of outsourcing it to a lab and Jennifer making the decision within the first year of launching her cold start practice. They give a peek behind the curtains on how vision plans influence the decision, the specific edgers each of them have in their practice, the economic benefits they've experienced, and how they use it as a unique differentiator and value-add to their respective patient bases.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. If you’re interested in learning more about the 20/20 Money Financial Success Masterclass, a course & platform that we created to help ODs become “brilliant at the financial basics,” please check out the link in the show notes of this episode to learn more.

And with that introduction, I hope you enjoy my conversation with Drs. Sam Hornberger & Jennifer Stewart, OD.

OD Masterminds™ Information Request

Resources:

20/20 Money Membership Information

Episode #256: Successful Implementation of VT in your practice with Dr. Heidi Bell

OVDRA

Cherry Financing

Emergent VT Training Platform for Vision Therapists

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Apple Podcasts

Spotify

Google Podcasts

Stitcher  —————————————————————————————

For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!