Veterinary Financial Podcast

We asked Steve Oehley, contract veterinarian in New Zealand, career coach, and host of the Next Step Vet podcast, about veterinary career paths, making a career switch, non-traditional careers, and helping veterinarians discover their strengths.

- Has Steve seen an increase in vets looking to change their career paths since the pandemic began?

- What are the most common concerns of those looking to change their career paths?

- What are Steve’s thoughts on self-awareness when designing a career?

- How can vets who are interested in non-traditional careers discover their strengths?

- What does Steve mean when he says, “Passion is the RESULT of a good career, not the start of it.”?

Ways to connect with Steve:

LinkedIn: https://www.linkedin.com/in/steve-oehley/

Podcast: https://next-step-vet.captivate.fm/

E-mail: [email protected]

Ways to connect with Veterinary Financial Summit: 

VetFinancialSummit.com

Instagram: @vetfinancialsummit

Facebook: https://www.facebook.com/VetFinancialSummit

Email: [email protected]

We asked Isaiah Douglass, a Certified Financial Planner and Partner at Vincere Wealth Management, about his thoughts on the financial landscape for 2023, investing, working with remote teams, emergency funds, and Bitcoin.

- What are Isaiah’s thoughts on the financial landscape for 2023?

- Is veterinary medicine recession-proof?

- What are the best questions to ask a financial advisor?

- What is the all-weather investment strategy?

- What are Isaiah’s thoughts on practice ownership?

- What insights does Isaiah have for working with remote teams?

- What do you do if you have an emergency fund and extra money in the bank?

- Why should vets care about Bitcoin?

Ways to connect with Isaiah Douglass:

Vincere Wealth Management: https://www.vincerewealth.com/veterinarian

Veterinarian Success Podcast: https://www.veterinariansuccesspodcast.com

LinkedIn: https://www.linkedin.com/in/isaiah-douglass-mba-cfp%C2%AE-cepa-29255462/

Isaiah’s suggested Bitcoin resources: https://twitter.com/IDFinancial/status/1369672078182514691

Ways to connect with Veterinary Financial Summit: 

VetFinancialSummit.com

Instagram: @vetfinancialsummit

Facebook: https://www.facebook.com/VetFinancialSummit

Email: [email protected]

We asked Kayla Donovan, a veterinary practice management consultant with Transformation Group Business Advisory, about common practice management mistakes, practice valuation, exit strategy, and selling a practice.

- What are the most common practice management mistakes Kayla sees?

- What clients/practices typically seek out Kayla’s services?

- What are some important factors to take into account when considering practice valuation?

- What are some practice ownership trends Kayla is seeing?

- When is the best time to plan an exit strategy?

- What should a practice owner consider when selling a practice?

Ways to connect with Kayla:

Email: [email protected]

Website: https://transformationba.com/

LinkedIn: https://www.linkedin.com/in/kayla-donovan-73a88436/

Phone: (732)642-6321

Ways to connect with Veterinary Financial Summit: 

https://VetFinancialSummit.com

Instagram: @vetfinancialsummit

Facebook: https://www.facebook.com/VetFinancialSummit

LinkedIn: https://www.linkedin.com/company/vetfinancialsummit

Email: [email protected]

We asked Jeff Rothstein, veterinarian and the founder of Mission Veterinary Partners, about the evolution of corporate medicine, practice ownership and management, and staffing in the current competitive job market.

- What are Jeff’s insights on the evolution of corporate medicine?

- What options are there for practice ownership outside of the traditional model?

- How did Jeff decide to pursue the business side of veterinary medicine?

- What sort of risk tolerance do you need to pursue practice ownership?

- What are some common unnecessary expenses in a veterinary hospital?

- What are some common practice management mistakes?

- How is mentorship being offered in Jeff’s practices?

- What are some key benefits practice owners can offer to stand out among the competition?

Ways to Connect with Jeff:

Email: [email protected]

Mobile: 734-645-0267

LinkedIn: https://www.linkedin.com/in/jeff-rothstein-97227347/

Ways to connect with Veterinary Financial Summit: 

https://VetFinancialSummit.com

Instagram: @vetfinancialsummit

Facebook: https://www.facebook.com/VetFinancialSummit

LinkedIn: https://www.linkedin.com/company/vetfinancialsummit

Email: [email protected]

This podcast episode marks a milestone in the Debt-Free Vets Facebook Community. We recently reached 10,000 members! That’s 10,000 vets and vet students from 97 different countries all around the world.

In this episode, the Debt-Free Vets moderators, Dr. Meredith Jones, Dr. Willie Bidot, and Dr. Chris Bidwell, talk about how and why the Debt-Free Vets group was started.

- Who is the Debt-Free Vets group for?

- How did Dr. Bidwell and Dr. Bidot become moderators?

- What does the group name mean and what are common misconceptions?

- What are the most common questions seen in the group?

- What are the most controversial topics seen in the group?

- What is planned for the group?

Debt-Free Vets group: https://www.facebook.com/groups/DebtFreeVets

Everything You Need to Know About Student Loans Right Now webinar: https://vimeo.com/user7519496/studentloans

$100 discount on a consult with Student Loan Planner (referral link): https://www.studentloanplanner.com/vetfinancialsummit

High Debt and Falling Demand Trap New Vets (NY Times, 2013): 

https://www.nytimes.com/2013/02/24/business/high-debt-and-falling-demand-trap-new-veterinarians.html

Ways to connect with Veterinary Financial Summit: 

https://VetFinancialSummit.com

Instagram: @vetfinancialsummit

Facebook: https://www.facebook.com/VetFinancialSummit

LinkedIn: https://www.linkedin.com/company/vetfinancialsummit

Email: [email protected]

We asked Eric Miller, Chief Financial Advisor and owner of Econologics Financial Advisors, about why practice ownership is so important for veterinarians, how to minimize the effects of inflation on business and personal finance, roles practice owners play in the practice, and exit strategies.

- Why is practice ownership important for veterinarians?

- Is practice ownership a great idea right now for new practice owners?

- What are Eric’s thoughts on staffing in the age of The Great Resignation?

- How can practice leaders minimize the effects of inflation on their business?

- How can veterinarians minimize the effects of inflation on their personal finances?

- What roles should a practice owner play in their practice?

- How should a practice owner structure their own compensation?

- What is a common financial mistake practice owners make?

- What is an exit strategy and when do you start planning it?

- What are some methods to offer equity in your practice?

- How do you know how much to buy or sell a practice at?

Ways to connect with Eric:

https://EconologicsFinancialAdvisors.com/

YouTube - https://www.youtube.com/c/FinancialBeast

LinkedIn - https://linkedin.com/in/ericisyourbfff

Facebook - https://facebook.com/econologicsfinancial

Ways to connect with Veterinary Financial Summit: 

https://VetFinancialSummit.com

Instagram: @vetfinancialsummit

Facebook: https://www.facebook.com/VetFinancialSummit

LinkedIn: https://www.linkedin.com/company/vetfinancialsummit

Email: [email protected]

In this BONUS episode of the Veterinary Financial Podcast, we talk about the upcoming Virtual Veterinary Financial Summit. Happening on October 22-23, the Summit is a virtual event that brings veterinary professionals from around the world together to learn about money topics. Our goal is to empower attendees with the knowledge to make better financial decisions.

- What makes the Vet Financial Summit different?

- What’s on the Agenda for this year?

- The two tracks at the Vet Financial Summit: Personal Finance and Practice Finance/Management

- What’s happening each day? (Saturday and Sunday)

- The Financial Goal-Setting Workshop

Register for the Summit: https://vetfinancialsummit.com/summit/

Ways to connect with Veterinary Financial Summit: 

https://VetFinancialSummit.com

Instagram: @vetfinancialsummit

Facebook: https://www.facebook.com/VetFinancialSummit

LinkedIn: https://www.linkedin.com/company/vetfinancialsummit

Email: [email protected]

We asked Lance Roasa, veterinarian and attorney, about employment contracts, salary versus ProSal, common mistakes with contracts, non-competes, and negotiation.

- Is a contract appropriate in all employment situations?

- What are new contract trends Lance is seeing in veterinary medicine?

- How would Lance explain ProSal to a new grad?

- Are there pitfalls to watch out for with ProSal?

- What are some common mistakes employers and employees make with contracts?

- Is there a place for non-competes in the current job market?

- What are the most important or best negotiating tips?

US Bureau of Labor Statistics - Veterinarians https://www.bls.gov/oes/current/oes291131.htm

AVMA Economic State of the Profession (membership required for free report) https://ebusiness.avma.org/ProductCatalog/product.aspx?ID=2000

Ways to connect with Lance:

Website: https://www.roasalaw.com/

LinkedIn: https://www.linkedin.com/in/lance-roasa-58338114/

Ways to connect with Veterinary Financial Summit: 

https://VetFinancialSummit.com

Instagram: @vetfinancialsummit

Facebook: https://www.facebook.com/VetFinancialSummit

LinkedIn: https://www.linkedin.com/company/vetfinancialsummit

Email: [email protected]

We asked Grace Kim, veterinarian, financial coach and the founder of Richer Life DVM, about getting started with personal finance, budgeting, money saving hacks, and common financial mistakes veterinarians make.

- Where does the journey start with getting finances on track?

- Why is a budget or cash flow plan important?

- What is the best way to get started with budgeting?

- What are Grace’s best tips for automating finances?

- Should everyone have a monthly budget?

- What are the top 3 money concerns Grace hears from new grads?

- What are some common financial mistakes vets make?

You Need a Budget:https://www.youneedabudget.com/

Ways to Connect with Grace:

https://richerlifedvm.com/

Facebook: https://www.facebook.com/richerlifedvm

Instagram: https://www.instagram.com/richerlifedvm

LinkedIn: https://bit.ly/3THxSBL

Ways to connect with Veterinary Financial Summit: 

https://VetFinancialSummit.com

Instagram: @vetfinancialsummit

Facebook: https://www.facebook.com/VetFinancialSummit

LinkedIn: https://www.linkedin.com/company/vetfinancialsummit

Email: [email protected]

We asked Cindy Trice, veterinarian and the Founder & CEO of Relief Rover, about veterinary relief work, what relief vets need to know about taxes and insurance, travel hacking, and trends that she is seeing with relief compensation.

- How some vets choose relief work as a side gig and others as a career

- The differences between being paid through W2 versus 1099

- How to estimate for self-employment taxes

- What type of insurance should vets consider when working relief?

- What are some insurance misconceptions?

- Why did Cindy start Relief Rover and what resources does it provide?

- What are some trends Cindy is seeing with relief compensation?

-  Does Cindy think more vets will pivot to relief work?

- What is Cindy’s favorite travel hack?

Relief Rover Wage Calculator

https://reliefrover.com/relief-veterinarian-salary-wage-calculator/

Worker’s Compensation By State

https://bit.ly/3cWWAgK

1099 vs. W2 - What’s the Difference?

https://vetfinancialsummit.com/1099-vs-w2-whats-the-difference/

Travel Hacking Blog

https://vetfinancialsummit.com/how-two-vets-went-to-hawaii-for-48/

Ways to Connect with Cindy:

https://reliefrover.com/

LinkedIn: https://www.linkedin.com/in/cindy-trice-9464566/

Email: [email protected]

Ways to connect with Veterinary Financial Summit: 

https://VetFinancialSummit.com

Instagram: @vetfinancialsummit

Facebook: https://www.facebook.com/VetFinancialSummit

LinkedIn: https://www.linkedin.com/company/vetfinancialsummit

Email: [email protected]