The Dentist Money Show | Financial Planning & Wealth Management

How would you rank the building blocks of a valuable practice? Are there certain assets within your business that carry more weight than others? In this episode of Dentist Money™ Reese welcomes Steven J Anderson, co-founder of Crown Council and the TOPS Institute. Steven describes the foundation of every great practice and the leadership qualities exemplified by the best owners. He also shares his...

Has your schedule gotten away from you? Have you thought about hiring another dentist to help you shoulder the load? In this episode of the Dentist Money™ Show, Reese & Ryan discuss some of the most common reasons dentists feel overworked and underpaid. They also explain why the source of the pain might not always be what you think it is.

Are you sick of surprise tax bills? How do you know if you're paying a fair amount for your level of income? In this episode of Dentist Money™, Reese & Ryan cover all things taxes including income calculations, common deductions, entity structure implications, and how tax reforms at the end of 2017 might impact conversations with your CPA. They also explain why it's not always easy to compare your...

Have you considered buying an annuity? Maybe you already have one. Either way, you should understand how they work and why a lot of people experience annuity remorse. In this episode of Dentist Money™, Reese & Ryan list ten things annuities and timeshares have in common. They also explain how dentists often get pressured into purchasing annuities and why they don't always get the returns they expe...

Is it possible that your desire to achieve is keeping your practice from reaching the next level? Or more broadly, are your ambitions holding you back from a more epic life? In this episode of Dentist Money™, Reese welcomes Dr. David Maloley, owner of Vail Valley Dental Care and host of the Relentless Dentist Podcast. Dr. Maloley reflects on his journey from "deadbeat undergrad" to one of the most...

When can we expect the next major market correction? Plenty of experts have weighed in recently as financial markets continue to expand. So who should you listen to? In this episode of Dentist Money™, Reese & Ryan evaluate headlines from major financial publications over the past several years to determine the accuracy of market projections. They also pose a more important question investors shoul...

What's the right mix of fee-for-service and PPOs? While the answer may vary by practice, most dentists would like to run a business that relies less on insurance income. In this episode of Dentist Money™, Reese welcomes Gary Takacs, who explains how practices can thrive in a world of heavy handed insurance companies and the emergence of corporate dentistry. He also provides answers to questions li...

Should you pay down debt or invest? The sum of student loans, practice loans, equipment loans, and real estate loans can seem insurmountable for a dentist. So what's the right pace to chip away at them? In this episode of Dentist Money™, Reese & Ryan explain how managing debt the right way can help you build wealth much faster. They also discuss the way debt should be viewed at different phases of...

What's with all the Bitcoin hype? Is it here to stay? More importantly, is it a viable investment option? In this episode of Dentist Money™, Reese and Ryan explain the origin of Bitcoin and its emergence in the market over the past few years. They examine the sophisticated "cryptocurrency" trading platform, highlight pros and cons of owning Bitcoin, and share stories of investors who bought in (fo...

Are you taking the right amount of risk with your money? Do you know how much life insurance you need? What about disability? Liability? Policy selection requires more than looking at your budget and deciding how much you can afford. In this episode of Dentist Money™, Reese and Ryan explain how much coverage you should carry and how the amount can change during your career. They also discuss two e...

Have you ever thought about investing in a startup? If you haven't already, someday you'll be approached to fund the next big thing. And maybe it's the next Amazon.com. But before you hand over your cash, you'll want to understand exactly what you're getting into. In this episode of Dentist Money™, Reese & Ryan walk through the steps of startup investing and provide a list of factors every dentist...

There's no such thing as a stupid question. In some cases it might just be the wrong question. And it's not uncommon for dentists to ask the wrong question about financial markets. In this episode of Dentist Money™, Reese and Ryan explain one fundamental principle of markets a lot of dentists seem to misunderstand. They also explain what a market is by comparing investments to more familiar produc...

Have you ever made a big change to your business or financial plan out of frustration? When cash was tight, the market was down, or collections were stagnant, did you allow short term thinking to get in the way of long term goals? In this episode of Dentist Money™, Reese & Ryan identify three classic examples of big sweeping changes dentists make that often come back to bite them. They also offer...

What's the best way to pay your financial advisor? How does fee structure affect performance? In this episode of Dentist Money™, Reese & Ryan explore the pros and cons of five compensation models and the outcomes you can expect from each one. They also describe the fee structure used by DentistAdvisors.com to align clients' best interest with advisor incentives.

When is the last time you took a hard look at your spending habits? Do you wonder how your current lifestyle choices will affect your ability to retire comfortably? In this episode of Dentist Money™, Reese and Ryan discuss why it's so easy for dentists to overspend. They also provide valuable reminders to avoid the most common traps that send your personal budget into a tailspin.

What if you looked at your investment portfolio the same way you looked at your practice? Would it change the way you approached financial markets? In this episode of Dentist Money™, Reese and Ryan explain how the same principles used to build your practice can be applied to capture more value with your investment portfolio.

What does it mean to have financial health? Is it a thriving practice, plenty of income, or an abundant lifestyle? In this episode of Dentist Money™, Reese and Ryan approach the World Health Organization's definition of health from a wealth-building perspective, and explore the meaning of financial fitness. They also discuss common decisions dentists wait too long to resolve, and offer advice for...

Think back to the moment you decided to become a practice owner. What were your hopes and dreams? Did you have visions of freedom, financial upside, and personal fulfillment? Is it playing out like you thought, or has the vision become slightly blurred? In this episode of Dentist Money™, Reese & Ryan describe what it means to live the dream of practice ownership. They discuss common reasons dentis...

How does brainpower impact your investment outcomes? Do smart people have the edge when it comes to recognizing the most lucrative opportunities? In this episode of Dentist Money™, Reese & Ryan highlight a major private equity fund that lost everything despite participation from some of the world's most respected organizations. They also glean three critical lessons every investor should apply.

A bet is a bet whether you realize you're making it or not. Are you letting your future ride on risky propositions that could be avoided altogether? In this episode of Dentist Money™, Reese & Ryan discuss the most common ways dentists allow luck to determine their financial outcomes. They also share advice for building a plan that doesn't bank on hitting it big.

Have you ever jumped on an investment bandwagon that went south? As a successful dentist you're a prime target for opportunistic dealers who don't mind risking other people's money. In this episode of Dentist Money™, Reese and Ryan explain the difference between legitimate investments and potential money pits. They also list the warning signs of dangerous advice so you can avoid it altogether.

Is your financial plan ready to go the distance? Have you eliminated all the distractions so you can focus on the fundamentals that drive better results? In this episode of Dentist Money™, Reese and Ryan break down three habits followed by the world's greatest athletes and describe how the same principles apply to dentists who strive for financial independence at an earlier age.

Pledge allegiance to the flag, support the troops, and cheer for your favorite Olympian. There's nothing wrong with a little home country pride. But how does love for your country affect your investments? In this episode of Dentist Money™, Reese & Ryan compare Americans, Canadians, and Australians to illustrate how home country bias can influence investment decisions.

Would you be happy if your investment portfolio earned average market returns? Is that enough to secure a comfortable retirement? In this episode of Dentist Money™, Reese and Ryan discuss four important habits followed by effective investors, how to set proper expectations for portfolio growth, and a new way to measure the value of a good advisor.

The world's greatest inventors, most accomplished musicians, and best athletes often attribute their success to persistence. It's the same trait that pushed you through dental school and keeps your practice moving forward. But what does it mean to have a persistent financial plan? In this episode of Dentist Money™, Reese and Ryan explore four steps to developing persistence and how each one transl...