Questions? 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 Learn

Taxes 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 Takeaway

Don'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 taxes

Resources Mentioned

Free Download: Get Your OD's Guide to Tax-Smart Investing

• Inventory your accounts
• Identify tax-inefficient holdings
• Evaluate if investments are in the right places

Ready 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/podcastquestion

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! 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/podcastquestion

Listener 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 Mentioned

• Submit your questions for future Q&A episodes: OptometryWealth.com/podcastquestion
• The Optometry Money Podcast Ep 151: How Filing Taxes Separately Impacts Student Loan Outcomes for Optometrists
• The 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 Ownership
• The Optometry Money Podcast Ep 69: Financial Planning Considerations for the Early Years of Practice Ownership
• The Optometry Money Podcast Ep 70: Financial Planning Considerations for Owners of Established Optometry Practices
• The Optometry Money Podcast Ep. 49: An Optometrist’s Guide to Business Entities

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! 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 goals
• How filing married jointly includes both spouses' income in the student loan calculation, even if only one spouse has loans
• Filing married separately allows you to exclude your spouse's income from the calculation, often resulting in dramatically lower monthly payments
• How community property states offer even more student loan planning opportunities for optometrists
• The additional tax costs of filing separately and how to compare them against student loan savings to make the right decision
• Critical timing considerations for filing your tax return and student loans
• Why filing an extension may make sense if you're unsure about your strategy

Chapters:

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 Optometrists

Resources mentioned:

• Click Here to Download Your Free 2025 Tax Filing Guide for Optometrists
• Ready 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.

Questions? Thoughts? Send a Text to The Optometry Money Podcast! We'll answer your question on the show.

Even though we're already into 2026, tax planning for 2025 isn't over. While most tax planning happens before December 31st, there are still several impactful levers you can pull before filing your return.

In this episode, Evon breaks down four specific tax planning opportunities still available to optometrists in early 2026, including strategies for individual ODs, practice owners, and real estate investors. Whether you're looking to maximize retirement contributions, reduce your 2025 tax burden, or accelerate depreciation on investment properties, this episode gives you a clear roadmap for what's still possible.

Key Takeaways

• IRA and HSA contributions can be made until April 15th and still count toward your 2025 tax year
• The "backdoor Roth IRA" remains available regardless of income, but requires careful execution to avoid the pro-rata rule
• Practice owners can make profit-sharing contributions up until their business tax filing deadline (including extensions)
• Cost segregation studies can accelerate depreciation for real estate investors, and why January 19, 2025 is a key date
• Not every strategy makes sense for every situation - tax bracket, liquidity needs, and long-term plans all matter when deciding which levers to pull

Episode Chapters

• 00:00 - Welcome and Listener Question
• 01:00 - Tax Planning Lever #1: IRA and HSA Contributions by April 15th
• 03:00 - Watch Out for Tax Filing Quirks and the Pro-Rata Rule with "Backdoor" Roth IRA Contributions
• 07:00 - Tax Planning Lever #2: 529 Contributions If Your State Provides a Tax Benefit
• 08:00 - Tax Planning Lever #3: 401(k) Profit Sharing Contributions
• 10:00 - Do Profit Sharing Contributions Make Sense for Your Optometry Practice?
• 13:00 - Don't Forget About Cash Balance Plans for Mature Optometry Practices
• 13:00 - Tax Planning Lever #4: Cost Segregation Studies for Investment Real Estate
• 16:00 - Final Thoughts for Optometrists Before Tax Season

📅 Want a more proactive approach to your planning?

If you're a practice owner wondering which of these levers makes sense for your situation, we'd be happy to help you think it through.

You can schedule a no-commitment introductory call to discuss what's on your mind financially and learn how we help optometrists navigate these decisions nationwide.

👉 Schedule an introductory call

📑 Resources mentioned in the episode:

• Podcast Ep. 108: Navigating Commercial Real Estate Decisions with Colin Carr
• Podcast Ep. 148: Profit Sharing Demystified - How Optometry Practice Owners Can Maximize Their 401(k) with Matt Ruttenberg 
• IRS: IRA contribution and income limits

📬 Stay Connected

Subscribe to the Optometry Money Podcast for practical financial planning insights designed specifically for optometrists, and never miss an episode.

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! We'll answer your question on the show.

2026 brings several important financial and tax changes that can directly impact optometrists - especially practice owners and those with student loans.

In this episode, Evon walks through five key updates to be aware of as you plan for the year ahead, including changes to retirement contributions, student loans, health insurance, and tax planning opportunities.

To make this easier, we’ve also created a free, 2-page 2026 Financial & Tax Planning Guide for Optometrists, which you can download using the link below.

What We Cover in This Episode

1. Annual Tax & Retirement Updates for 2026

• Adjustments to tax brackets and the standard deduction
• 2026 retirement plan contribution limits
• Special catch-up contribution rules for ages 60–63
• HSA and IRA contribution updates
• Social Security wage base increase
• How to adjust payroll contributions early in the year

2. OBBBA Changes Taking Effect in 2026

• Expanded phase-out thresholds for the Qualified Business Income (QBI) deduction
• Why this matters for optometry practice owners and 1099 ODs
• How this creates a longer planning runway for higher-income households
• An overview of new “Trump Accounts” expected to launch mid-year

3. Student Loan Rule Changes and Key July 1 Deadlines

• Ongoing changes to income-driven repayment plans
• Introduction of the new RAP plan
• What currently practicing optometrists need to know
• Why July 1, 2026 is a critical date for consolidation decisions
• Differences between planning for current borrowers vs. future optometrists

4. Health Insurance Changes: ACA & HSA Updates

• ACA premium tax credits reverting to pre-COVID rules
• The return of the 400% federal poverty line “cliff”
• Why income planning matters more again in 2026
• Expanded HSA eligibility for Bronze and catastrophic ACA plans
• Using HSAs as a long-term planning tool

5. Roth-Only Catch-Up Contributions for High Earners

• Mandatory Roth catch-up contributions for certain high-income earners
• Who this applies to and how it’s determined
• Why catch-up contributions may no longer reduce taxable income
• What to check with your 401(k) plan administrator

📥 Download the Free 2026 Financial & Tax Planning Guide

We distilled everything discussed in this episode—and more—into a simple, two-page reference covering the key 2026 numbers and rule changes optometrists should know.

👉 Download the guide here

📅 Want Help Applying This to Your Situation?

If you’d like to get a head start on your 2026 planning, you can schedule a no-pressure introductory call to talk through what’s on your mind financially and learn how we work with optometrists nationwide.

👉 Schedule an introductory call

📬 Stay Connected

When you download the guide, you’ll also receive the Eyes On The Money weekly newsletter - practical financial planning insights designed specifically for optometrists.

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! We'll answer your question on the show.

Episode Summary:
As your practice grows and profits increase, one of the most powerful tax and retirement planning tools available to optometry practice owners is profit sharing within your 401(k) plan. But what exactly is profit sharing, and how can you optimize it for both you and your employees?

In this episode, Evon welcomes back Matt Ruttenberg of Life Inc. Retirement Services to break down everything optometrists need to know about profit sharing contributions. They discuss how profit sharing works, the different methods of calculating contributions, and how practice owners can use this strategy to maximize retirement savings while managing taxes.

Whether you’re new to 401(k) plans or you’re ready to level up your retirement savings strategy, this conversation will give you clarity on how to align your plan design with your goals.

What You’ll Learn in This Episode:

• What profit sharing in a 401(k) plan actually is and why it matters for practice owners
• The “three-tier wedding cake” framework of retirement plan contributions
• Different methods of profit sharing:
  • Pro Rata (the simple but costly method)
  • New Comparability (targeted, strategic contributions that benefit owners most)
• How factors like employee demographics, age, and owner wages impact profit sharing efficiency
• Why your Safe Harbor match choice (match vs. non-elective) matters when layering on profit sharing
• How profit sharing integrates with cash balance plans to supercharge retirement savings
• Key deadlines practice owners need to keep in mind before year-end

Resources & Links:

• Learn more about Matt Ruttenberg and his team: 401k.expert
• The Optometry Money Podcast Ep 111: 2024 Mid-Year Retirement Plan Updates and Deadlines Practice Owners Need to Know with Matt Ruttenberg
• The Optometry Money Podcast Ep 64: How to Invest Six Digits A Year Into Your Practice Retirement Plans with Matt Ruttenberg
• The Optometry Money Podcast Ep 63: Choosing A Retirement Plan for Your Optometry Practice with Matt Ruttenberg

Work With Us:
Thinking about working with a financial planning firm that specializes in optometry? At Optometry Wealth Advisors, we help ODs nationwide align their practice and personal finances for growth, tax efficiency, and long-term wealth.

👉 Schedule a free, no-pressure intro call here: optometrywealth.com

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! We'll answer your question on the show.

Tax planning is more than just finding deductions—it’s about pulling the right financial levers at the right time. In this episode, Evon Mendrin, CFP®, walks through the five key areas of a tax return that optometrists and practice owners should focus on when working with their financial and tax professionals. 

By understanding these levers, you can reduce surprises at tax time and unlock smarter planning opportunities for both your practice and your personal finances.

What You’ll Learn in This Episode:

• How to project your income trajectory for the year (and why clean bookkeeping is essential).
• Why reviewing your tax withholdings and estimated payments now can prevent big surprises later.
• The role of Adjusted Gross Income (AGI) in unlocking or losing out on credits and deductions.
• Planning strategies around itemized deductions (and how the new rules on SALT and charitable giving affect you).
• How to manage your Qualified Business Income (QBI) deduction as an optometry practice owner.
• Using your taxable income and brackets to strategically manage your overall tax liability.
• Practical ways to combine these levers—like retirement plans, charitable giving, and reinvesting in your practice—for maximum impact.

Resources & Links:

• Independent Strong: Understanding the Key Planning Levers in the Private Practice Owner’s Tax Return (Evon’s written guide)
• Connect with Evon: [email protected]
• Schedule a time to chat at www.optometrywealth.com
• Newsletter: Tax Changes in the 'One Big Beautiful Bill Act' ODs Need to Know
  
  

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! We'll answer your question on the show.

Episode 146 – Four Common Investment Mistakes Optometrists Should Avoid

As an optometrist and practice owner, you’ve got enough on your plate running a household, practice, and career - but what about your investments?

In this episode of the Optometry Money Podcast, Evon Mendrin, CFP®, CSLP®, walks through the four most common investment mistakes he sees optometrists make when they come to his firm - mistakes that can quietly cost you over your career.

You’ll learn:

• Why a “junk drawer” portfolio is not a strategy (and how to create a clear investment approach).
• The difference between owning more funds and actually being diversified.
• How complexity for complexity’s sake often adds cost and confusion without adding value.
• Why simplicity can lead to better outcomes, even for high net worth ODs
• Why asset location - putting the right investments in the right accounts - can save you significantly in taxes over time.

These aren’t one-off missteps - they’re patterns Evon sees over and over with ODs nationwide, and by avoiding them, you can create a portfolio that’s simpler, more efficient, and better aligned with your financial goals.

Resources and Links:

• Free PDF Guide: Key Issues to Review in Your Investments
• Schedule a no-pressure introductory call with Evon

Other Episodes Mentioned:

• The Optometry Money Podcast Ep 61: Should You Invest in International Stocks?
• The Optometry Money Podcast Ep 134: The Case for Index Funds – Why Optometrists Should Embrace Passive Investing
• The Optometry Money Podcast Ep 135: Beyond Indexing – An Optometrist’s Guide to Factor-Based Investing
• The Optometry Money Podcast Ep 140: What Most Investors Get Wrong About Dividend Investing

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! We'll answer your question on the show.

Episode Summary:

You’ve done the hard work of creating your estate plan. But is it actually ready to work when you need it most? In this episode, Evon breaks down the four critical gaps that can make or break your estate plan's effectiveness — especially for busy optometrists and practice owners.

We’re diving into the implementation side of estate planning — those next steps after the documents are signed that so many overlook. Whether you’ve DIY’ed your estate plan or worked with an attorney, this episode will help you spot (and fix) potential breakdowns that could leave your family or practice exposed.

💡 In This Episode, You'll Learn:

• Why having signed documents may not be enough to protect your family or business
• The #1 mistake DIY estate planners make (and how to fix it)
• How to make sure your estate planning documents actually do what you want them to do
• Why outdated beneficiaries can completely derail your estate plan
• How to organize your digital life — from passwords to email — so your loved ones aren't locked out
• When to revisit and update your plan

🔗 Resources & Links:

• Click here to schedule a free intro call.
• Sign up for the Eyes On The Money newsletter and get the Estate Planning Checklist!
• The Optometry Money Podcast Ep 81: An Optometrist's Guide to Estate Planning

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! We'll answer your question on the show.

Episode Summary

In this timely episode, Evon unpacks the Department of Education’s recent surprise announcement that interest will resume accruing on the SAVE plan’s current forbearance beginning August 1, 2025. We explore what this means for optometrists managing student loans - especially those approaching forgiveness eligibility or considering refinancing.

What You'll Learn

• Surprise Announcement: Why SAVE’s interest-free forbearance ends on August 1, 2025, and how to prepare
• OBBBA Overview: How this new legislation (effective July 2026) changes income-driven repayment plan options - removing SAVE, PAYE, ICR plans as available options for current optometrists
• Repayment Roadmap: How optometrists should evaluate refinancing, staying federal, or switching plans based on degree completion and loan timing
• IDR Plan Comparison: Breaking down olcd vs. new IBR, PAYE, and SAVE rules - including repayment terms like 20‑year repayment at 10% of discretionary income
• Strategic Tax Planning: Using filing status and extensions (especially important in community-property states) to lock in the lowest monthly payment
• Timeline Guidance: When key deadlines hit (Aug 1, 2025; July 2026; July 2028) and how to reconcile existing loans within the new REPAY plan framework

Resources Mentioned

• Department of Education Announcement - SAVE Interest Accrual Begins
• The Optometry Money Podcast Ep 143: How the Final One Big Beautiful Bill Act Impacts Optometrists – Taxes, Student Loans, and More!
• Click here to Subscribe to the Eyes On The Money Newsletter for weekly financial insights tailored specifically to optometrists.
• Have Questions? CLICK HERE to schedule a short introductory call

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.