20/20 Money Episode #248 – How Ignoring Interest Rate Arbitrage and Focusing on the Emotion of Paying Off Debt Can Accelerate Savings and Wealth Creation With Dr. Matt Mitchell, OD

Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Matt Mitchell, OD. Matt joins me back on the show in response to a very thoughtful piece of feedback he sent me about his view on debt and money after listening to a number of episodes of the show. Matt’s been a long-time listener of the show and has also been a guest a number of times. I really appreciated Matt sending the feedback and rather than dialogue about it 1:1, I thought his viewpoint would make for a very enjoyable conversation to share with the entire community of 20/20 Money listeners. We talk about Matt’s journey to being debt free, what caused him to change course, the impact it’s had on him and his family, how he views investments back into the practice, how he thinks about the opportunity cost of waiting by paying cash rather than financing purchases, and other viewpoints.

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 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 help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Dr. Matt Mitchell, OD.

Resources:

20/20 Money Community Information

Buying and growing a rural optometry practice

Adding an associate by understanding marginal chair cost

Zac & Joelle Holland episodes (Part 1 and Part 2)

Dave Ramsey