Questions? Thoughts? Send a Text to The Optometry Money Podcast!

In this episode of The Optometry Money Podcast, host Evon Mendrin welcomes back Erich Mattei of Akrinos for a follow-up conversation focused on creating a pathway for associate doctors to become partners in your optometry practice.

Whether you're an owner thinking about bringing on a partner or an associate doctor aiming to own part of a practice, this episode unpacks the key considerations you need to know.

In this episode, you'll learn:

• The motivations for bringing on a partner (succession planning, growth, and shared leadership)
• Why starting the conversation early is critical for practice owners
• What owners should look for in a future partner beyond clinical skills
• How modernizing business operations can make ownership more attractive
• The essentials of structuring a partnership: timelines, financing options, and compensation
• Legal documents you must have when structuring partnerships and exits
• Final tips for owners and associates to create win-win opportunities

Resources Mentioned:

• Ep 124: Scaling and Freedom – When, Why, and How to Add an Associate Optometrist with Erich Mattei
• Women in Optometry: Guiding the Future: Doctor’s Transition Plan Begins to Take Shape
• Learn more about Akrinos: Akrinos Website
• Eyes on the Money Weekly Newsletter - Get 2025's Most Important Numbers
• The Partnership Charter by David Gage

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.

Questions? Thoughts? Send a Text to The Optometry Money Podcast!

In this episode, Evon Mendrin, CFP® dives into the latest twists in the federal student loan landscape—and what they mean for optometrists using income-driven repayment (IDR) plans. There’s big news on SAVE plan court rulings, loan consolidations, and IDR recertifications. But more than that, Evon explores the deeper question: What are the tradeoffs you accept when choosing an IDR path toward forgiveness?

Whether you’re a recent graduate figuring out your repayment plan or a practice owner managing loans alongside business goals, this episode breaks down the current student loan climate and the ongoing volatility—and why you should base your decision on math and personal tolerance for policy uncertainty.

💡 What You’ll Learn:

• The most recent updates to federal student loans
• What’s happening with student loan consolidation and past payment history
• Why IDR recertification deadlines have been pushed back—and what to do if yours wasn’t processed
• The current status of IDR applications (they're back!) and why servicers aren’t processing them (yet)
• The key tradeoffs to consider when planning around forgiveness vs. full repayment
• How student loans compare to other long-term financial decisions in terms of uncertainty and control

🔗 Resources & Links:

• Eyes On The Money Weekly Newsletter – Sign up and get your 2025 Financial Guide
• Student Loan SAVE Plan Court Case Guidance
• Have a question or want to dive into your student loan strategy? Reach out at [email protected]

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.

Questions? Thoughts? Send a Text to The Optometry Money Podcast!

Welcome back to The Optometry Money Podcast! In this episode, host Evon Mendrin, CFP®, dives into the topic of stock market declines—a reality for every long-term investor. With headlines buzzing about economic concerns, tariffs, and policy changes, market volatility can feel unsettling. But how common are market declines really? And what should optometrists do when they happen?

What You’ll Learn in This Episode:

✅ How often stock market declines occur—historical data on 5%, 10%, 15%, and 20% drops
 ✅ What happens after market declines—average returns after 1, 3, and 5 years
 ✅ The importance of diversification and why international stocks matter
 ✅ Why trying to time the market is dangerous and can hurt long-term returns
 ✅ Key actions optometrists can take during a market downturn
 ✅ How rebalancing, tax-loss harvesting, and Roth conversions can be smart financial moves
 ✅ Why staying the course is the best strategy for long-term investors

Market declines are normal and expected, but they don’t have to derail your investment plan. Evon shares valuable insights to help optometrists make informed decisions, stay disciplined, and continue building their financial future—even during uncertain times.

Resources & Links:

🔗 Click here to Sign up for the Eyes On The Money Newsletter and get your Guide to 2025's Most Important Numbers
🔗 Learn more about Optometry Wealth Advisors – www.optometrywealth.com
🔗 Have a question? Contact Evon – [email protected]

Resources & Links:

🔗 US Stock Market History of Ups and Downs
🔗 Reacting Can Hurt Performance - Missed Days Hurts Returns
🔗 Markets Have Rewarded Disciplined Investors

If you found this episode helpful, please share it with a fellow OD! And don’t forget to subscribe and leave a review on your favorite podcast platform.

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.

Questions? Thoughts? Send a Text to The Optometry Money Podcast!

The student loan landscape is shifting again! In this episode, Evon breaks down the latest updates on the SAVE Plan, the recent court rulings, and what these changes mean for optometrists navigating their student loan repayment.

With major legal challenges in play, borrowers on SAVE are currently in interest-free forbearance, but the future of the program remains uncertain. Evon unpacks the key takeaways from the recent 8th Circuit Court of Appeals decision, discusses potential next steps, and shares what optometrists should consider when making student loan repayment decisions.

What You’ll Learn:

✅ Background on the SAVE Plan & Legal Challenges – Why the courts put SAVE on hold and what’s next
✅ What This Means for Optometrists – How the latest rulings impact those on SAVE, PAYE, and IBR plans
✅ Should You Switch Plans? – Factors to consider before making a move
✅ Tax Strategies for Student Loan Borrowers – Filing tips to optimize student loan repayment
✅ Preparing for Uncertainty – Practical steps to protect your financial future

Key Takeaways:

💡 The SAVE Plan is currently blocked, and applications for income-driven repayment plans & loan consolidation are unavailable.
💡 Borrowers on SAVE forbearance are not accruing interest, but these months do not count toward forgiveness.
💡 Income-Based Repayment (IBR) is still available and could be an alternative for some borrowers.
💡 If you’re going for Public Service Loan Forgiveness (PSLF), the recent rulings do not impact the program directly, but timing your repayment strategy is critical.
💡 Tax planning is essential – Your tax filing status (Married Filing Separately vs. Jointly) and timing of recertification can significantly affect student loan payments.

Actionable Steps for Optometrists:

🔹 If you’re on SAVE forbearance – Consider whether staying put or switching to IBR/PAYE (when applications reopen) makes sense for your situation.
🔹 If you’re nearing forgiveness (20-25 years) – Switching to IBR sooner may be necessary to receive forgiveness.
🔹 If you’re married – Review tax filing strategies to exclude spousal income from payment calculations.
🔹 If your income has increased significantly – Be aware that switching to IBR/PAYE could trigger higher payments.
🔹 If you’re pursuing PSLF – Understand the buyback provision and how it affects your repayment plan.

Resources & Next Steps:

📩 Get More Updates! Stay informed with our Eyes on the Money Newsletter for the latest financial strategies tailored for optometrists. Subscribe here.

📅 Need Student Loan Help? Book a free intro call with Evon to discuss your student loan strategy and overall financial plan. Schedule a call here.

📢 Enjoyed this episode? Leave a review and share it with a fellow OD who needs to hear this!

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.

Questions? Thoughts? Send a Text to The Optometry Money Podcast!

In this episode of The Optometry Money Podcast, Evon Mendrin, CFP®, sits down with Dr. Jennifer Stewart and Dr. Aaron Neufeld to dive into one of the biggest career decisions optometrists face: Should you cold start a practice or buy an existing one?

Dr. Stewart and Dr. Neufeld bring their expertise as practice owners and consultants to break down the most common misconceptions around both options, the biggest mistakes new owners make, and how to make the right decision for your career and financial future.

They share insights from their work with ODs on Finance’s Cold Start and Practice Purchase Accelerator programs, offering real-world advice on choosing a location, handling financing, managing staff transitions, and much more.

If you’re considering starting or purchasing an optometry practice, this episode is packed with actionable takeaways to help you confidently navigate the journey to ownership.

Key Topics Discussed:

• The biggest misconceptions about cold-starting vs. buying a practice
• How to determine if practice ownership is right for you
• Choosing the right location for a cold start practice
• Financing and financial planning considerations for both paths
• Vision plans: Should a cold start accept them?
• Common staffing and patient retention challenges after buying a practice
• How to manage change effectively in an acquired practice
• Why you don’t have to go at it alone—and how to find expert guidance

Resources & Links:

• Connect with Dr. Jennifer Stewart on LinkedIn
• Connect with Dr. Aaron Neufeld on LinkedIn
• Learn more about the Cold Start & Practice Purchase Accelerator Programs at ODs on Finance.
• Recommended Book: Traction: Get a Grip on Your Business by Gino Wickman
• Have a question or topic request? Email Evon at [email protected]
• Visit the Optometry Wealth Advisors Education Hub for more resources, episodes, and articles.
• Leave us a review on Apple Podcasts or Spotify!

Want to Work with Evon?

Curious about how financial planning can help you make smarter decisions for your practice and personal finances? CLICK HERE to schedule a free, no-pressure consultation with Evon Mendrin, CFP®.

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.

Questions? Thoughts? Send a Text to The Optometry Money Podcast!

In this episode of The Optometry Money Podcast, Evon Mendrin sits down with Dr. Tony Turin and his wife, Kim Turin, to discuss how they intentionally built and scaled their optometry practice from a cold start to three thriving locations. As a husband-and-wife power team, they share the lessons they've learned along the way—balancing business and family, maintaining culture across multiple locations, and making strategic financial decisions that fueled their growth.

Tony and Kim talk about the challenges and rewards of practice ownership, how they divide roles to complement each other’s strengths, and what key financial and practice metrics they track to ensure their locations remain financially strong. Whether you're an OD considering practice ownership or already managing a growing business, this episode is packed with valuable insights.

Key Topics Discussed:
✅ The journey from a cold start to multiple locations
✅ How the Turins balance business, family, and personal time
✅ Strategic financial decisions that made their growth possible
✅ The importance of maintaining culture across multiple locations
✅ How they track key performance metrics to ensure long-term success
✅ Their biggest lessons learned from growing their practice

Resources & Links:
🔗 Learn more about Tony and Kim Turin’s practice
🔗 Connect with Tony on LinkedIn
🔗 Check out the Education Hub at www.optometrywealth.com for more resources

Want to Work with Evon?
Curious about how financial planning can help you make smarter decisions for your practice and personal finances? Schedule a free, no-pressure consultation with Evon Mendrin, CFP®, at www.optometrywealth.com.

Enjoy the episode?
👉 Don’t forget to subscribe, rate, and review on your favorite podcast platform! It helps more ODs discover valuable financial and business insights.

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.

Questions? Thoughts? Send a Text to The Optometry Money Podcast!

In this episode of The Optometry Money Podcast, host Evon Mendrin, CFP® sits down with Dr. Nick Lillie to discuss his journey of expanding his practice, hiring an associate OD, and restructuring his business to align with his lifestyle and personal values.

Dr. Lillie shares his insights on practice expansion, the importance of focusing on core services, and how financial and operational planning has helped him build a thriving practice that serves both his patients and his family. He also dives into how he approaches strategic planning for the new year, the role of key performance indicators (KPIs) in practice growth, and the mindset shifts that have fueled his success.

What You'll Learn:

• The process behind Dr. Lillie’s practice expansion and move to a new location.
• How he approached hiring and mentoring his first associate optometrist.
• The importance of focusing on core services like dry eye, ocular health, and optical.
• The impact of financial planning and profitability on sustainable business growth.
• How to structure your practice to support your ideal lifestyle.
• The power of tracking KPIs and using data to guide business decisions.
• Why mentorship plays a key role in onboarding a new associate.
• How to develop a vision for your practice and align it with your personal values.

Resources & Links:

• Connect with Dr. Nick Lillie: Email: [email protected]
• Listen to Optometry: The Ultimate OD Podcast: Website
• Schedule a free consultation with Evon: Click here
• Sign up for the Eyes On The Money Newsletter: Click here

Follow Us:

• Facebook: Optometry Wealth Advisors
• LinkedIn: Evon Mendrin, CFP®

Thank you for listening! If you enjoyed this episode, please leave a review and share it with a fellow optometrist!

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.

Questions? Thoughts? Send a Text to The Optometry Money Podcast!

In this episode, Evon welcomes Dr. Chad Fleming back to The Optometry Money Podcast. Dr. Fleming shares his experiences with strategic planning and explains how setting aside time to work on the business through a strategic planning week has helped him scale his practice operations. They discuss how private practice owners can improve leadership, reduce chaos, and increase profitability through intentional planning.

Evon and Dr. Fleming dive into the nuts and bolts of what a strategic planning week entails, how to execute it, and why it’s essential to long-term business success.

In This Episode:

• What’s the difference between growth and scale for optometry practices?
• The concept of working on vs. in your business and why stepping away is crucial.
• What happens to a practice and the owner when there's no intentional planning time.
• How Dr. Fleming’s annual strategic week helped him plan, lead, and reduce turnover.
• Practical advice on creating a productive planning getaway—from choosing a location to preparing resources.
• Measuring and implementing your strategic ideas when you return to the practice.

Episode Highlights:

• [00:04:40] Scaling vs. growth: defining both for practice owners
• [00:06:10] Working on your business versus working in it: practical examples
• [00:18:22] Dr. Fleming’s annual strategic planning getaway explained
• [00:23:05] How to prepare and gather your thoughts for a productive planning session
• [00:35:00] Tracking key performance indicators (KPIs) to measure success
• [00:40:06] Exciting opportunities in the future of private practice optometry

Resources:

• Contact Dr. Chad Fleming: Email him at [email protected]
• LinkedIn: Connect with Dr. Fleming on LinkedIn
• Past Podcast Episodes: Check out more episodes with Dr. Fleming in our podcast archive:
  • Ep. 118: Adding Private Label to Improve Margins Without Compromising Quality with Dr. Chad Fleming
  • Ep. 17: Assessing the Health of Your Optometry Practice with Dr. Chad Fleming
  • Ep. 6: Navigating Associate Contracts, Practice Ownership, and Partnerships with Dr. Chad Fleming

Connect With Us:

• For more podcast episodes, blog articles, and optometry-specific financial resources, visit www.optometrywealth.com.
• To learn more about working with Evon and the team at Optometry Wealth Advisors, CLICK HERE to schedule a free consultation.

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.

Questions? Thoughts? Send a Text to The Optometry Money Podcast!

In this episode of The Optometry Money Podcast, Evon Mendrin, CFP®, hosts Erich Mattei of Akrinos to dive deep into a pivotal question for many private practice optometry owners: when, why, and how should you hire an associate optometrist?

Together, Evon and Erich discuss:

• The key motivations behind hiring an associate doctor – from scaling your practice for growth to creating more personal freedom.
• The role of associates in succession planning and de-risking your practice’s future.
• Critical financial and operational indicators that signal it may be time to hire.
• How to structure compensation plans that attract and retain top talent while aligning with your practice’s financial health.
• Best practices for onboarding and mentoring your associate for success.
• And more!

Whether you’re approaching capacity constraints or seeking a better work-life balance, this episode will help you make more informed decisions about hiring and transitioning to an associate OD.

Resources Mentioned in the Episode:

📄 Erich Mattei’s articles on public demand for eye care and the important role of private practice optometry  (Review of Optometric Business): Part 1 | Part 2
🌐 Learn more about Erich Mattei and Akrinos: Visit Akrinos
📚 Explore the Optometry Wealth Advisors Education Hub for financial resources and tools: Visit Here
📆 Connect with Evon for a no-pressure financial planning consultation: Schedule Here

Connect with Us:

• Follow Evon on LinkedIn
• Subscribe to the Eyes on the Money newsletter for weekly financial tips and insights tailored for optometrists: Sign Up Here

Do You Have Insights to Share?
If you’ve gone through the process of hiring an associate or have questions about the decision, we’d love to hear from you! Send us a message at [email protected].

Thank You for Listening!
We appreciate your time and attention. If you enjoy the podcast, please subscribe and leave a review on your favorite podcast platform. Your feedback helps us reach more optometrists like you!

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.

Questions? Thoughts? Send a Text to The Optometry Money Podcast!

In this episode, your host, Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, dives into the critical importance of your Savings Rate as a foundation for financial independence. We explore how incremental improvements—or marginal gains—can lead to exceptional results.

What You’ll Learn in This Episode:

• The Story of Marginal Gains: How Sir Dave Brailsford’s focus on 1% improvements led the British cycling team to Olympic gold and what that means for your financial habits.
• The Role of Systems in Financial Success: Why success is more about consistent habits and systems than lofty goals.
• Understanding the Savings Rate: What it is, why it’s a leading indicator of future financial health, and how to calculate and improve it.
• Practical Strategies to Improve Your Savings Rate: From automating contributions to identifying areas for incremental improvement in your cash flow.
• The Danger of Chasing High-Risk Investments: Why a strong savings rate is more reliable than speculative ventures in achieving financial independence.

Resources Mentioned:

• 📖 Atomic Habits by James Clear: Learn how habits and systems drive success.
• 📰 Eyes On The Money Newsletter: Check out the recent edition discussing the impact of your Savings Rate.
• 📅 Schedule a Free Consultation with Evon: Let’s talk about optimizing your savings and cash flow.
• The Optometry Money Podcast Ep 57: A Framework for Deciding Where to Save/Invest Next

Connect With Evon and the Podcast:

• Website: Optometry Wealth Advisors
• Email: [email protected]
• Submit Questions: Use the link in the show notes to text a question directly to the podcast!

Thank You for Listening! Thank you for tuning in to this episode of The Optometry Money Podcast. If you enjoyed this episode, please subscribe, leave a review, and share it with your fellow ODs. Remember, small, consistent actions today lead to a financially secure tomorrow!

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.