The Dentist Money Show | Financial Planning & Wealth Management

Weston Lunsford, CEO of Dental Intel and self-diagnosed "data geek," breaks down the numbers behind successful practices and offers a simplified solution for measuring progress. He also explains the meaning of proactive planning, four categories of money making, the impact of broken appointments, and why certain dentists struggle to reach standard benchmarks.

Practice transitions expert, Randon Jensen of CTC Associates, stops by to discuss the most important considerations to make before buying or selling a practice. Topics include managing expectations, structuring the deal, and getting proper representation. Randon also shares a few stories to highlight the most common mistakes he's observed in his 17 years of working in the dental industry.

Jason Wood is a partner at Wood & Delgado and one of the nation's premier attorneys for dentists. Having worked with thousands of dentists, he has become an authority on practice-related transactions. In this industry expert edition of Dentist Money™, Jason describes the role of a good attorney during acquisitions and transitions, the important considerations to make when buying a practice, and th...

Mike Alder, CEO of Unitas Dental, joins Reese for this episode of Dentist Money™ recorded on location at WRDC in Phoenix. Mike's firm specializes in helping dentists sustain viable topline growth through managing third party payor relationships. In this interview, he explains how to keep your rates in check, benefit from insurance company partnerships, and set your prices.

Great Britain's referendum to leave the EU triggered an historic week for financial markets and drove significant losses for some investors. There's no shortage of speculation about "Brexit's" long term ripple effect and the timeline for recovery. In this episode of Dentist Money™, Reese & Ryan share reaction from some of the financial industry's top advisors and offer guidance for protecting your...

Dentist Money™ welcomes financial expert, Doug Carlsen, who retired comfortably from dentistry at age 53. Dr. Carlsen is a nationally renowned speaker and has been a regular contributor for publications like Dentaltown and Dental Economics. In this episode, Reese and Doug compare notes and discuss the biggest factors that lead to financial longevity for dentists.

In this special episode of Dentist Money™, Reese interviews industry thought-leader, Howard Farran — arguably the most influential personality in dentistry. Howard is a successful practicing dentist, MBA, CEO of dentistry's largest media company, internationally recognized lecturer, and bestselling author. In this interview, Howard gives his candid take on the most common financial mistakes made b...

Breaking news: if you're a dentist, you're smart. When the rest of us sit in your chair, it's nice to know your supercharged brain got you through all those science classes, entrance exams, and the rigors of dental school. But does that mean you should tackle every business and financial decision on your own? The most successful dentists build a team of experts to advise them regularly on matters...

Dentists are often approached by life insurance brokers to purchase life insurance as a retirement savings plan. Whole life, variable life, or universal life. What are the arguments for using these types of policies? What are the arguments against them? In this episode of Dentist Money™, Reese and Ryan provide a fresh perspective on how dentists can approach life insurance decisions with more conf...

Unless you happened to live in 18th century Western Europe, you might not understand how the modern economy was born - or even who the father was. It's a fascinating tale of deception, greed, pirates, and a Scottish visionary who borrowed French vocabulary. Plus it provides a great foundation for understanding financial markets. In this episode of Dentist Money™, Reese & Ryan discuss the evolution...

According to a recent article in Bloomberg magazine, gold prices have rallied and investors are piling back into gold in droves. On the heels of a four-year price decline, gold seems to have regained its luster and many are enticed by the prospect of striking it rich. But do they know what's under the surface of all the media hype? In this episode of Dentist Money™, Reese & Ryan provide some valua...

What do finance and pianos have in common? Pretty much everything. As the composer of your financial future, you need the right instrument to unlock your wealth-building potential. But a lot of dentists are using models that are out of tune. In this episode of Dentist Money™, Reese & Ryan describe the sound of a well crafted retirement plan.

Famous economist, Josiah Stamp said, "It is easy to dodge our responsibilities, but we cannot dodge the consequences of dodging our responsibilities." Although most dentists acknowledge the value of good financial planning, busy schedules keep them from addressing the essential components of wealth management. In this episode of Dentist Money™, we discuss three of the most powerful actions you can...

Making smart decisions with your money requires a certain level of sophistication. It can be difficult to understand the ins and outs of insurance coverage, investing, debt management, real estate, and practice finance. So how do some dentists make it look so easy to build wealth? In this week's episode of Dentist Money™, Reese and Ryan reveal a few basic fundamentals followed by the most successf...

According to financial expert Dave Ramsey, “Personal finance is about 80 percent behavior and only about 20 percent head knowledge.” So next time you squander your money or make a bad investment, you probably shouldn’t blame it on your decision to forego a masters in finance. We all have personality traits that make us vulnerable to poor financial decisions. In this week’s episode of Dentist Money...

It comes with the territory. When you're a successful professional, you become a prime target for litigation. But are you prepared for every unfortunate scenario that could ruin your retirement? Most dentists aren't. In this episode of Dentist Money™, Reese and Ryan discuss the liability risks that most people don't know about and how to protect yourself against expensive lawsuits.

Cash is piling up. Your bank balances are getting pretty solid. Do you have more than you need? How much is  too much  to keep in your practice checking account? What about the size of your personal emergency fund? Should you invest it, or pay off the remainder of your debts? In this episode of Dentist Money™, Reese and Ryan discuss why having a lot of assets doesn’t always mean financial security...

While you'd like to think your financial decisions are always grounded in logic, the truth is that your head can often get in the way. In many cases, what may seem like a reasonable approach to financial planning, ends up being a costly decision. In this episode of Dentist Money™ Show, Reese and Ryan discuss the most common mental biases that lead to poor financial judgment.

Most investors measure success in the stock market by gains and losses. And, of course, it’s always nice to see your account balances moving in the right direction. But the benefits of financial markets go well beyond making positive returns. In this episode of Dentist Money™, Reese and Ryan explain why returns don’t tell the whole story and reveal the lesser-known reasons to invest in public mark...

As a dentist, you might have a general sense of your financial situation based on your collections, income, and retirement accounts. But have you ever wondered how your performance compares to other dentists? This episode of Dentist Money Show™ explains why it’s important to benchmark your performance against your peers, and how to make simple calculations to monitor your financial progress.

As your practice grows you might consider hiring another dentist to help you manage your workload. Partners and associates can be a great way to multiply your efforts, but before you make the commitment, you should clearly understand what you’re getting into. This episode of the Dentist Money Show™ dives into the financial ramifications of hiring another dentist and the questions you should ask be...

Finding the right financial advisor to manage your wealth is so important that the Dentist Money Show™ has dedicated two episodes to discussing the questions you should ask - and the answers you should get - when hiring an advisor. In this episode (Part 2), Reese and Ryan continue the conversation about how to identify the best advisor to help you retire faster and better.

Choosing a financial advisor is one of the most important decisions you will ever make. The person you hire to manage your wealth will be largely responsible for how well you retire. And unless you know what to look for, you may never know the difference between good and bad advice. This episode is the first in a two-part series which explains the the questions you should ask - and the answers you...

People who complain about taxes can be divided into two classes: men and women. And although Uncle Sam isn’t anyone’s favorite relative, the right tax strategy could be the first step in patching things up. In this week’s episode of the Dentist Money Show™, Reese and Ryan explain how a proactive tax strategy can reduce your tax bill, and help you save for a better retirement.

In 1999, after his second Super Bowl win, John Elway passed on an offer to acquire 20% of the Denver Broncos and decided to pursue a series of private business ventures instead. Seventeen years later, the outcome of his decision provides some useful insight into investment strategy. In addition to deciding whether Elway made the right call, this week’s episode of the Dentist Money Show™ discusses...