Best of 2023: Financial Planning Considerations for Owners of Established Optometry Practices

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As we approach year-end, it's time to rewind to a popular 2023 episode! 

In Part 3 of a 3 part series, Evon dove into the many financial planning considerations optometrists need to think about when you own a more established, mature private optometry practice - both inside the business and in the household.

A few of the planning topics practice owners should think about are:

• Maintaining your vision for the ideal practice and ownership life
• Building guardrails around your practice based on your ideal lifestyle
• Create a separation between your practice and personal finances
• Create a framework for deciding how to best use the cash flow your practice creates
• Getting the most from your practice retirement plans
• Planning for financial independence and retirement
• Balancing the growth of different parts of your net worth over time
• Risk management, contingency planning in the practice, and estate planning
• Keep an eye on the other financial goals in your life outside the practice
• Keeping in close contact with your professionals. 

Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at [e-mail].

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:

• Refractional CFO - Jackson Pace, CPA
• Simple Numbers, Straight Talk, Big Profits! by Greg Crabtree and Beverly Blair Harzog
• 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 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
• Get your FREE financial health assessment

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.