Episode #68

20/20 Money Episode # 68-How Much Should You Pay Yourself?

February 24, 2020

As the owner of a private practice, a question that you will inevitably ask yourself is “How much should I pay myself as the owner of my practice?” There are a number of different ideas and considerations to think about with regards to this question and in this show I talk through some of the different decision points that exist for a practice owner to consider which can influence how much they pay themselves.

Profit First

The Profitable Doctor

Start Planning Today

Don’t miss out on exclusive access to financial tips, strategies, and expert-led webinars. Subscribe to the “Planning Life, On Purpose” newsletter today and stay ahead of the planning curve!

My sessions at Vision Expo East (March 26-29 in NYC)

All of Mick Kling’s sessions at Vision Expo East

Mick’s Profit First Session at Vision Expo East

Planning for the 199A deduction in your practice

Episode Transcript

Enjoy our content? Subscribe for regular updates!

Related Podcasts

  • Financial Planning
The 401(k) rules have changed. Has your retirement plan?

If your practice has been using the same retirement plan for years simply because “it works,” you may be leaving…

  • Practice Management
Why your optometry marketing isn’t working with Jeremy Bono from IDOC Marketing

Your next patient may already be looking for an optometrist—and choosing someone else before you ever know they existed. On…

Is optometry too focused on specialty services? A discussion with Dr. Kyle Klute

What if the pressure to add specialty services is distracting you from the value already sitting inside your practice? In…

  • Practice Management
How successful practice owners actually become wealthy

A profitable practice can create tremendous cash flow—but it does not automatically create personal wealth. In this episode of 20/20 Money:…

  • Practice Management
What every seller needs to know before selling their practice

A practice sale that should have been the easiest transition imaginable ended before negotiations even began—and the lessons could save…

  • Practice Management
Your Practice Doesn’t Need More of Your Time — It Needs Better Use of It with Nathan Hayes

What if the next level of your practice requires less time in the lane — not more? In this episode…