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In this episode, your host, Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, dives into the critical importance of your Savings Rate as a foundation for financial independence. We explore how incremental improvements—or marginal gains—can lead to exceptional results.

What You’ll Learn in This Episode:

• The Story of Marginal Gains: How Sir Dave Brailsford’s focus on 1% improvements led the British cycling team to Olympic gold and what that means for your financial habits.
• The Role of Systems in Financial Success: Why success is more about consistent habits and systems than lofty goals.
• Understanding the Savings Rate: What it is, why it’s a leading indicator of future financial health, and how to calculate and improve it.
• Practical Strategies to Improve Your Savings Rate: From automating contributions to identifying areas for incremental improvement in your cash flow.
• The Danger of Chasing High-Risk Investments: Why a strong savings rate is more reliable than speculative ventures in achieving financial independence.

Resources Mentioned:

• 📖 Atomic Habits by James Clear: Learn how habits and systems drive success.
• 📰 Eyes On The Money Newsletter: Check out the recent edition discussing the impact of your Savings Rate.
• 📅 Schedule a Free Consultation with Evon: Let’s talk about optimizing your savings and cash flow.
• The Optometry Money Podcast Ep 57: A Framework for Deciding Where to Save/Invest Next

Connect With Evon and the Podcast:

• Website: Optometry Wealth Advisors
• Email: podcast@optometrywealth.com
• Submit Questions: Use the link in the show notes to text a question directly to the podcast!

Thank You for Listening! Thank you for tuning in to this episode of The Optometry Money Podcast. If you enjoyed this episode, please subscribe, leave a review, and share it with your fellow ODs. Remember, small, consistent actions today lead to a financially secure tomorrow!

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.