Dentists, Puns, and Money

In this episode, host Shawn Terrell explores the concept of thinking fourth dimensionally in tax planning, using the analogy from Back to the Future to highlight the interconnectedness of financial decisions. He discusses how to avoid unintended consequences in tax harvesting and emphasizes the importance of comprehensive, forward-thinking strategies. ------------------------------- Episode Resour...

In this episode, host Shawn Terrell explains the mechanics of tax loss and tax gain harvesting, including when and how to implement it, with practical examples and considerations for maximizing tax efficiency. Whether you're investing in non-qualified accounts or planning for future dental practice transitions, understanding these concepts can significantly impact your financial efficiency. ------...

In this episode, host Shawn Terrell breaks down the complex but powerful strategy of tax harvesting—both loss and gain—to help dentists optimize their long-term tax outcomes. Whether you're investing in non-qualified accounts or planning for future transitions, understanding these concepts can significantly impact your financial efficiency. ------------------------------- Episode Resource   ------...

In this episode, host Shawn Terrell discusses the common confusions surrounding Roth IRAs, particularly the differences between contributions and conversions.  He emphasizes the importance of understanding these differences, the irrevocable nature of conversions, and the tax implications involved.  The episode also highlights the need for accurate reporting on tax returns and offers resources for...

In this episode, host Shawn Terrell discusses how to think about timing Roth IRA conversions for a dentist who plans to exit from clinical dentistry.  He uses the analogy of a long bike ride on RAGBRAI as a way to think about ideal timing. The objective for dentists like Dr. Bill is strategic timing of Roth IRA conversions to minimize tax burdens. ------------------------------- Episode Resource  ...

In this episode, host Shawn Terrell discusses the financial implications of Roth IRA conversions for dentists nearing retirement, particularly focusing on how these conversions can mitigate tax burdens and provide greater control over retirement funds.  He explains the strategic advantages of converting deferred accounts to Roth IRAs, highlighting the long-term benefits of tax-free withdrawals and...

In this episode, host Shawn Terrell discusses the importance of planning for Required Minimum Distributions (RMDs) in retirement, using the analogy of a problematic driveway to illustrate the need for proactive financial strategies.  He emphasizes the consequences of not having a plan for RMDs, including higher taxes and implications for beneficiaries.  The conversation also touches on strategies...

In this episode, host Shawn Terrell discusses the importance of tax diversification for dentists nearing retirement. He explains the four types of taxes on investments: ordinary income, deferred, capital gains, and tax-free. Shawn emphasizes the benefits of diversifying across these tax types to minimize lifetime tax liability and maximize retirement options. ------------------------------ Chapter...

In this episode, host Shawn Terrell discusses the SALT deduction within the One Big Beautiful Bill. Listen for insights into how the OBBBA impacts dentists planning their financial future post-clinical practice. --------------------------------- Episode Resource: https://tr.ee/zIM4M4   -------------------------------- Meet with Dentist Exit Planning Advisor: Schedule Discovery Meeting ------------...

In this episode, host Shawn Terrell delves into the One Big Beautiful Bill Act and its implications for those over 65. It highlights the $6,000 tax deduction available via OBBBA to individuals 65 and older, the implications for Social Security taxation, and the potential for strategic tax planning. -------------------------------- Chapters 00:00:00 Introduction to the One Big Beautiful Bill Act 00...

In this episode, host Shawn Terrell discusses the complexities of financial language, particularly the terms 'above the line' and 'below the line' in tax contexts, and how they relate to dental professionals. He explains the impact of the One Big Beautiful Bill Act on these terms and offers insights into deductions and tax strategies for dentists. -------------------------------- Chapters 00:00:00...

In this episode, host Shawn Terrell discusses the inspiration behind the podcast's new direction, drawing parallels to the movie "Almost Famous" and introducing the fictional character Dr. Bill. Shawn outlines the podcast's focus on deep dives into retirement planning topics for dentists, starting with the "One Big Beautiful Bill Act" of 2025. -------------------------------- Chapters 00:00:00 Int...

In this episode, host Shawn Terrell shares personal anecdotes about prioritizing life experiences over mundane tasks like lawn care, drawing parallels to how dentists should approach their financial futures. The conversation emphasizes the need for a strategic approach to retirement planning, including income strategies, tax optimization, and intentional legacy planning. Shawn also believes that n...

In this episode, Shawn Terrell provides updates on his own Roth IRA conversion, which was previously discussed on Podcast Episode 95,  released in January of 2025. In this update episode, Shawn dicusses what he learned about his Roth conversion when filing his 2024 taxes and analyzes his decision to execute this tax planning strategy. He reflects on the federal and state tax implications, the impo...

In this episode of Dentists, Puns and Money, host Shawn Terrell discusses the recent market volatility and its implications for dentists nearing retirement. Shawn emphasizes the importance of acknowledging anxiety about financial losses, understanding the cyclical nature of the market, and having a solid financial plan in place. He also highlights the need to look for opportunities during market d...

In this episode of Dentists, Puns, and Money, host Shawn Terrell discusses the multifaceted aspects of retirement beyond financial planning. He emphasizes the importance of maintaining physical health, staying updated with technology, nurturing friendships, and finding purpose in life after clinical practice. Through personal anecdotes and insights, Shawn highlights how these elements contribute t...

In this 100th episode of the podcast, host Shawn Terrell reflects on the evolution of 'Dentists, Puns and Money' since its inception during the pandemic. He discusses changes in format, frequency, and personal experiences, particularly regarding health challenges. Shawn emphasizes the importance of recognizing both changes and constants in life, especially for dentists planning their future after...

In this episode, Shawn Terrell discusses the importance of living a fulfilling life beyond the confines of dentistry. He introduces the concept of a 'billboard question' inspired by Tim Ferriss, encouraging listeners to reflect on their life philosophies. Takeaways You will die someday. Make decisions about how you live your life based on this reality. Consider what your future self in making deci...

Summary In this episode of Dentists, Puns, and Money, host Shawn Terrell discusses the unexpected challenges faced by dental practice owners and the importance of financial planning for life after clinical dentistry. He shares a story of a practice owner who experienced a series of unfortunate events, emphasizing the need to expect the unexpected. Takeaways When bad things happen, they often happe...

Summary In this episode of Dentists, Puns and Money, host Shawn Terrell discusses the importance of tax preparation for dentists, sharing personal anecdotes and practical tips. He emphasizes the significance of a tax filing checklist to avoid common mistakes and ensure all necessary documents are accounted for. Takeaways The importance of having a financial treatment plan for life after dentistry....

In this episode of 'Dentists, Puns and Money', host Shawn Terrell uses a popular internet meme from a few years back to explore challenges older clients sometimes have with navigating technology. This could be a growing issue as more and more Baby Boomers enter retirement and are charged with using newer technology to handle the financial piece of their post-clinical life. Shawn emphasizes the imp...

In this episode, Shawn Terrell discusses the importance of being your own best client or patient, and how that relates to his own personal financial situation.  He shares his experience with his own Roth IRA conversions and what he learned about timing and strategy in tax planning. As tax laws change after 2025, he provides insights on how to navigate these changes effectively to optimize tax savi...

In this episode, Shawn Terrell discusses essential financial planning strategies for dentists in 2025, focusing on key numbers that will impact retirement savings and tax planning. He highlights the importance of understanding catch-up contributions, especially for those nearing retirement, and provides resources for listeners to access updated financial information. -------------------------- Tak...

In this episode of Dentists, Puns, and Money, host Shawn Terrell discusses essential financial considerations for dentists as they approach the end of 2024. He emphasizes the importance of planning for taxes, including converting to a Roth IRA, understanding required minimum distributions, and utilizing tax loss harvesting strategies. Shawn also highlights the significance of being aware of income...

In this episode, Shawn Terrell shares valuable money lessons learned from his near-death experience and strokes in 2023. He emphasizes the importance of organization, accessibility of important documents, and the necessity of disability insurance. Through personal anecdotes and practical advice, he encourages listeners to take proactive steps in managing their finances and preparing for unforeseen...