Dentist Money

Dental industry experts join Reese Harper, CFP® to share insights dentists can use to make smart financial decisions. Visit for a complete list of episodes
Dentist Money


Join thousands of dentists who are learning how to make smart financial decisions. You’ll get straightforward advice about investing, retirement planning, tax reduction, insurance, debt management, and personal finance.


225: April Fools: Don’t Get Tricked into These Financial Blunders

Apr 1, 2020 34:46


For an April Fools Day episode of the Dentist Money™ Show, Reese and Ryan take a close look at financial mistakes that can make you feel like a money management moron. 

It’s been said, “Wise men learn by other men’s mistakes. Fools by their own.” On this show, Reese and Ryan share examples of money miscues you can avoid. Learn from the mistakes of others and then follow these tips so you can keep your net worth growing.

#224: Don’t Let Social Distance Keep You from Building Your Practice

Mar 25, 2020 37:31


On this episode of the Dentist Money™ Show, Ryan interviews Dr. Brian Harris, the founder of Smile Virtual, a leader in virtual consultations. Have you considered that the mindset you take during this economic pause may result in how well your practice does when it’s back to business as usual? 

From the tricks he’s learned about video consults to tips on getting more involved in social media, Brian offers ways to still be productive during unusual times.

#223: Answered: Current Questions About COVID-19 and Markets

Mar 18, 2020 40:31


The effect of COVID-19 on the economy has resulted in a major market downturn. On this episode of the Dentist Money™ Show, Reese and Ryan provide answers to the financial concerns they’ve been hearing from clients and others.

It’s a pragmatic look at current issues as Reese and Ryan offer advice about where we are—and where leading economic forecasters say we’re most likely headed. Hear why staying calm and rational as you’re faced with major decisions is the right path.

#222: The Difference Between Holistic Planning and Asset Management

Mar 11, 2020 38:31


It’s a Dentist Money™ Show first as Ryan interviews Matt Mulcock, one of our own advisors. Ryan asks Matt what it was like to work at a large money-management firm. 

It’s a one-of-a-kind episode as Matt compares the differences between Dentist Advisors’ holistic financial planning approach with firms that mix product sales with financial advice. You’ll get to know more about Matt—and you’ll hear why he jumped at the chance to work for Dentist Advisors.  

#221: Are PPOs Worth the Hassle?

Mar 4, 2020 39:26


On this episode of the Dentist Money™ Show, Ryan interviews Matt Hironaka of Unitas PPO Solutions. Do you need help evaluating your PPO participation? Are you involved with PPOs and want to improve reimbursements? Or are you wondering if you can negotiate higher fee rates? 

Matt answers those questions and many more as he and Ryan discuss PPOs in depth. Frustrated with your PPO relationships (like so many dentists)? Matt has some reliable tips to help you smooth out those disappointing PPO bumps.

#220: What Dentists Want to Know — Listener Q&A #13

Feb 26, 2020 36:57


What do DSOs, Dave Ramsey, and financial stress have in common?

The last Q&A episode of the Dentist Money™ Show was several months ago. Since then the pile of good questions has grown, and we’ve picked a couple interesting winners. 

“How do you deal with management issues that are part of working in a big DSO? Should you just work for yourself instead of enduring the hassle?” How about, “Is stress a requirement for financial growth?” Plus, Reese and Ryan deconstruct why Dave Ramsey’s “Baby Steps” don’t all work for dentists.

#219: Why a 10% Savings Rate Won’t Cut it for a Dentist

Feb 19, 2020 40:56


On this episode of the Dentist Money™ Show, Reese and Ryan put Savings Rate (Sr) under the Elements® microscope. And they dive deep into the many reasons why it’s so closely tied to both your debt and your ability to invest throughout your career. 

Savings Rate is the key indicator of whether you’re moving your own net worth needle forward, and Reese and Ryan clarify why that’s true. Plus, they have a few tricks that can help you start accumulating more savings faster.

#218: How to Put on a “Happy Face” and Really Mean It

Feb 12, 2020 40:07


On this episode of the Dentist Money™ Show, Reese interviews Dr. Brian Anderson, founder of the 5,500+ member Facebook group, Orthodontic Pearls. Brian is a popular speaker known for the sincerity he brings to his message of finding positive purpose in your work.

In talking with Reese, he shares how energizing your involvement and fully enjoying how your contributions help people live better can change the way you approach your work. In this show, get into the “flow” with Dr. Brian Anderson.

#217: The Pros and Cons of Dental Partnerships

Feb 5, 2020 36:53


On this episode of the Dentist Money™ Show, Reese and Ryan answer the question: “As I’m choosing a partner, what would you recommend that would be different from running a solo practice?” Not a question with a quick or easy answer … but a question many dentists ask during their careers.

Partnerships can change financial implications, decision-making dynamics, productivity, work schedule, and staffing requirements. Reese and Ryan take an in-depth look at all the related challenges and benefits.

#216: How to Connect Your Profits to a Higher Purpose

Jan 29, 2020 42:01


On this episode of the Dentist Money™ Show, Reese interviews Jayme Amos, founder of Ideal Practices, a leader in helping dentists create successful startup practices. Jayme reveals how his own business found an altruistic vision that added greater personal purpose to his work, and created a more unified office culture. 

You set the bar for office culture, but also how you’re going to serve your community. It’s a responsibility that can actually help create a better world … and workplace.

#215: Dental Economics Editor Explains “How to Make Greater Profits”

Jan 22, 2020 42:56


On this episode of the Dentist Money™ Show, Ryan interviews well-known lecturer Dr. Chris Salierno, chief editor of Dental Economics. Their wide-ranging discussion covers topics from how to publish content to how to control your overhead to why Chris thinks it’s a must to know your “gross profit margins.”

As an editor of a leading industry publication, Chris has his finger on dentistry’s pulse. You’ll want to get his take on cost-effective ways to build your practice.

#214: Our Answers to “9 Questions to Ask a Financial Advisor”

Jan 15, 2020 44:56


On a recent podcast, Reese and Ryan offered Dentist Money™ Show listeners nine good questions to ask financial advisors. Many listeners then turned the tables and said, “OK guys, how about giving us your answers!”

Don’t miss this episode as Reese and Ryan answer questions about their investment philosophy; about their investment allocation strategies; about why they put a focus on dentists. Plus, they explain the Dentist Advisors fee model structure and all of the services that are included with it.

#213: A Simple Marketing Secret You Need to Know

Jan 8, 2020 37:19


On this episode of the Dentist Money™ Show, Ryan interviews Michael Anderson and Laura Maly of the Wonderist Agency, a full-service dental marketing agency. Does SEO still work? Is Facebook the place for me? Is direct mail the best channel to market my practice? These are typical questions that seem to concern most dentists. 

In this timely interview, Michael and Laura explain why finding an authentic message about what makes your practice different should always be the first step in evangelizing your business.

#212: Why There’s More to ROI Than You Think

Jan 1, 2020 39:55


“What are your returns?” It’s one of the first questions most people looking for a financial advisor ask. But is it the right question? In this episode of the Dentist Money™ Show, Reese and Ryan talk about what other questions may prove more insightful. 

The role of today’s financial advisor is more about pairing strategies with your goals and matching the proper risk to the time frame needed for that investment.

#211: How Charitable Giving Improves Your Financial Health

Dec 25, 2019 43:27


Is there a correlation between personal financial security and charitable giving? Reese and Ryan reflect on the gifts the giver receives on this Christmas Day episode of the Dentist Money™ Show. 

The dental community has an impressive record of giving both of their time and money to charitable causes. What drives that desire to give back? And what, if anything, do the givers also receive in return for their gifts?

#210: Clearing Up Confusion About Mutual Funds, Index Funds, and ETFs

Dec 18, 2019 40:16


In this episode of the Dentist Money™ Show, Reese and Ryan discuss both the differences and the similarities between mutual funds, index funds, and ETFs (Exchange Traded Funds). Find out why choosing the right funds for your portfolio doesn’t have to be an either/or decision.

All of these funds are actually collections of stocks with some differences like expense ratios, tax structure, and volatility. But all three may have a place in your investment strategy.

#209: Does Process Beat Persistence?

Dec 11, 2019 44:10


In this episode of the Dentist Money™ Show, Reese and Ryan discuss how to establish processes that can ensure you finish all of the financial planning jobs you need to do.

When it comes to holistic financial planning—debt, savings, insurance, estate planning, personal spending, income growth, practice equity, retirement accounts, real estate—you can’t knowledge power your way to getting everything done.

#208: Every Dentist Faces These 3 Risks

Dec 4, 2019 40:44


Understanding how your personality affects your choices can be difficult. In this episode of the Dentist Money™ Show, Reese and Ryan talk about what you can do to make more rational decisions.

If you feel like “what am I doing with my life?” you may not be taking enough risk. If you’re burnt out or scared, you may be taking too much risk. Reese and Ryan have some ideas to help you think, “Ahhh, this is just right!” when it comes to making important decisions.

#207: How to Turn Your Employees into Teammates

Nov 27, 2019 44:23


Trying to create an exceptional team—one with positive energy and enthusiasm? On this episode of the Dentist Money™ Show, Reese and Ryan discuss typical organizational dysfunctions that may be keeping your employees from working together as a unit.

Can the well-oiled office of your dreams actually become reality? Reese and Ryan introduce five flaws that often sabotage teams that need to work closely together. And knowing the right solution for each flaw is a must for any organization.

#206: 5 “Musts” Before Buying a Practice

Nov 20, 2019 40:51


On this episode of the Dentist Money™ Show, Ryan interviews Brian Hanks, author, podcast host, and buyer advocate for dentists looking to purchase a practice. Buying a practice is a life-altering decision—and it’s one you need to get right.

Ryan and Brian discuss the five things that banks want to see before they’ll lend. Plus, Brian throws in a secret ingredient that can give you the midas touch when finding and buying the right practice for you.

#205: Are You Smart? Or Did You Just Get Lucky?

Nov 13, 2019 39:21


James Taylor, Clark Griswald, and Lady Luck all get a mention in this episode of the Dentist Money™ Show—although (as you might guess) the lady wins most of the attention. 

Having the stars align, finding your pot-o-gold, or just plain luck can play a role in people’s lives … and in their finances too. If you’ve wondered why—or maybe what it takes to increase your own lucky odds—Reese and Ryan take a keen look at karma when it comes to investing.

#204: Scary Tales of a Dentist’s Financial Troubles

Nov 6, 2019 42:58


On a Halloween edition of the Dentist Money™ Show, Reese and Ryan talk about some of the spooky things about finances that tend to scare people—things that might not actually be all that frightening. Then they turn their attention to the things that should really unnerve them.

If you’re worried about debt, down markets, and recessions, your concerns would be better placed by worrying about low profitability, fraud, and losing money through speculation. Listen in as Reese and Ryan explain why.

#203: Here’s How to Control Your Spending Without Budgeting

Oct 30, 2019 41:29


A recent trip has Ryan pondering hurricanes, wild chicken, and how he spent his vacation money. And, on this episode of the Dentist Money™ Show, he and Reese talk about why, once people get used to spending, they just can’t seem to cut back.

Controlling your spending may be the least sexy part of financial planning, but Reese and Ryan have the secret sauce to help you increase your net worth without pinching pennies.

#202: Tax Savings Strategies for the New Tax Code

Oct 23, 2019 42:41


On this episode of the Dentist Money™ Show, Reese interviews Morgan Hamon, partner with HDA Accounting Group, a dental-specific CPA firm. A new tax law was passed in 2018. Do you know how it affects your tax liability or your practice?

The new tax code did sweeten some things for you, and Reese and Morgan discuss entity structures and other ways you can chip away at your tax liability under the new law.

#201: Why in the World Would I Hire a Financial Advisor?

Oct 16, 2019 46:56


On this episode of the Dentist Money™ Show, Reese and Ryan discuss the real role of a “financial advisor.” To achieve financial health while growing your net worth, a specific set of planning items need to be completed.

Today, with so many people selling financial products for a commission, the term “financial planning” can seem confusing. Reese and Ryan talk about the many jobs to be done by an advisor who is really concerned about your overall financial health.

#200: A Quick Look Back and a Long Look Forward

Oct 9, 2019 44:11


On the 200th episode of the Dentist Money™ Show, Reese and Ryan take a quick look at where we’ve been, and then take a long look forward. And some of their prognostications may startle you.

How will the large number of women entering dentistry change the industry? What’s the future for practice ownership? Will DSO’s continue to grow at their current rate? Get the answers to these questions and much more.

#199 - Colin Carr, Real Estate Just for Dentists

Oct 2, 2019 46:33


Colin Carr, founder of CARR, is Reese’s guest on this episode of the Dentist Money™ Show. Colin describes the “aha” moment when he knew good representation was needed to protect dentists from getting taken advantage of in real estate deals. 

Plus you’ll find out what to look for when buying office space, when leasing might be the best option, how to keep the upper hand when dealing with landlords, and a whole lot more.

#198: A 40,000 Foot View of Your Practice

Sep 25, 2019 45:41


On this episode of the Dentist Money™ Show, Reese and Ryan discuss how your perception of success might be a little misguided. 

Do you wonder if the size and scale of your practice are big enough? While the stress and pressure you may be feeling are real, it might be time to step back, take a deep breath, and see the bigger picture. Learn how you can start making your own grass look greener in this thought-provoking episode.

#197: A Social Media Master Shares His Secrets

Sep 18, 2019 37:36


In an episode that could be described as “everything you wanted to know about the current state of social media,” Ryan interviews Blake McClellan, CEO of Implant Compare and ringleader of the Dental Influencers Alliance. 

Blake explains how the future of social media is changing. It’s getting more human and offering every dentist a way to tell their brand story and be heard. He also offers ways for you to reach out and influence your audience to drive more business.

#196: Is the “Tax Tail” Wagging Your Investment Dog?

Sep 11, 2019 46:38


Taxes annoy dentists. They bother most people, but they really seem to irritate dentists. On this episode of the Dentist Money™ Show, Reese and Ryan explain why you may need to rethink your approach if your contempt for taxes affects the way you invest.

The kids are back in school, and it’s a great time to get back to the basics of tax planning before the end of the year creeps up on you.

#195: Your Monthly Regimen for Good Financial Health

Sep 4, 2019 43:46


How often do you examine some of the important things in your life—your physical health, oral health ... financial health? On this episode of the Dentist Money™ Show Reese and Ryan discuss the calendar of financial treatments called Elements® that Dentist Advisors uses to perform financial checkups for dentists on a recurring schedule.

It’s a habit—brushing and flossing daily, seeing the dentist twice a year. It wasn’t always that way. To create better financial health, is it time for you to establish a similar financial routine?

#194: Money Tips from the Founder of Dental Investment Group

Aug 28, 2019 43:41


What happens when two dental industry financial gurus get together to chat? Find out on this episode of the Dentist Money™ Show as Reese interviews Sunny Pahouja, full-time dentist and founder and moderator of the popular Dental Investment Group on Facebook. 

Reese and Sunny take on a variety of topics from market volatility to how to avoid scams and finally to how to navigate the world of financial advisors. There’s sure to be a nugget of wisdom for all investors from novice to expert. 

#193: The Meat & Potatoes of Stock Market Investing

Aug 21, 2019 50:01


The markets are (once again) a bit jumpy. What to do, what to do? On this episode of the Dentist Money™ Show, Reese and Ryan get into the meat and potatoes (well steak and sweet potatoes) of what’s going on as they discuss the three staples of smart investing. 

Using examples of perilous economic events from the past 20 years, they offer advice on how you should react to today’s negative headlines. It’s current, and definitely an episode you’ll want to tune into.

#192: What Dentists Want to Know — Listener Q&A #12

Aug 14, 2019 41:48


It’s been a while since the last Q&A episode of the Dentist Money™ Show and there’s a lot on our listener's minds. You’ll get the scoop on how much typical dentists really earn. Plus, you’ll want to hear the lively discussion between Reese and Ryan on when it’s time to move from a Simple IRA to a 401(k). 

And there’s even more, like “What does it really mean to invest back in your practice?” in this information-packed episode of the Dentist Money™ Show.

#191: Your Estate Planning Wake-Up Call

Aug 7, 2019 49:08


On this episode of the Dentist Money™ Show, Reese interviews Brent Andrewsen, estate planning expert at the Kirton McConkie law firm. As a practice owner with a growing net worth, you’re probably aware that you should do some basic estate planning. Reese and Brent discuss why that should start early in your career. 

Where do your assets go, or who will raise your kids should something unexpected happen? Listen in as Reese and Brent deliver advice your family needs you to hear.

#190: What’s Your Happiness Index?

Jul 31, 2019 47:11


A once-in-a-lifetime trip to Mongolia provides the backdrop for this episode of the Dentist Money™ Show as Reese shares his recent experience. He and Ryan talk about the relationship between work, family, and living a happy life. 

They compare happiness scores by country and discuss findings from an 80-year long Harvard study which identifies four common traits of happy people.

#189: Do Your Kids Know the Value of a Dollar?

Jul 24, 2019 49:31


From the types of jobs available, to the way we pay for stuff, and our ability to buy anything online — the money paradigm has shifted dramatically in one short generation.

On this episode of the Dentist Money™ Show, Reese and Ryan share ideas for teaching your kids money management skills in the new economy.

#188: How Practice Analytics Are Changing the Game

Jul 17, 2019 01:04:13


Ryan’s guest on the Dentist Money™ Show is Weston Lunsford, founder of Dental Intelligence. Weston explains how measuring real-time data improves practice performance and reveals where additional revenue can often be found.

Analytics are changing everything from manufacturing to healthcare to the sports you love. The real question is can they improve your practice? Find out as Weston and Ryan discuss the ways predictive analytics are changing the dental industry.

Rise of the Machines: The Power and Limits of Financial Apps

Jul 10, 2019 44:06


Good financial planning requires careful thought around hundreds of jobs. On this episode of the Dentist Money™ Show, Reese and Ryan talk about which of those jobs can be accomplished by apps and/or computers, and which still require the human brain.

As Dentist Advisors prepares to launch an app of its own, you’ll be fascinated to hear about the multi-year development process and important insights gained through hundreds of user feedback sessions. You’ll also learn where technology excels—and where it doesn’t.

#186: Major Dilemma: Buy a House or Grow a Practice?

Jul 3, 2019 43:45


Is getting into that perfect home on your mind? On this episode of the Dentist Money™ Show, Reese and Ryan talk about why that’s such a big decision—and why it can affect your effort to build the ideal practice.  

Mixing thoughts about a new home when you’re focused on growing your practice can leave you in a serious quandary. Find out how doing things in the right order will result in greater personal net worth.

$185: The 4 Ingredient Recipe to Optimal Wealth Building

Jun 26, 2019 48:15


On this episode of the Dentist Money™ Show, Reese and Ryan take on a question that many dentists often ask themselves: “Am I putting my money in the right places?” 

When asset building, your money can only go into one of four places—liquid assets, retirement plans, practice growth, or real estate acquisition. Reese and Ryan offer some sage advice about how to prioritize one asset bucket over another as you grow your net worth.

#184: Why Stock Market Curve Balls Are Getting Easier to Hit

Jun 19, 2019 41:59


On this episode of the Dentist Money™ Show, Reese and Ryan talk about why Ted Williams, the last baseball player to hit over .400, wouldn’t be able to do it today. Increased access to information has changed baseball, and it has narrowed outcomes when it comes to stock market investment returns too.

From baseball to communications to the stock market, everyone has access to more data than at any time in history. Find out why that’s good news for diversified investors and bad news for stock pickers.

#183: Turn Your Biggest Expense Into Your Best Investment

Jun 12, 2019 44:27


Reese’s guest on the Dentist Money™ Show is Laura Hatch. Founder of Front Office Rocks, Laura has plenty of advice on how your staff can quickly improve the way they serve your clients.

When the phone rings, or when patients come to your office, is your staff doing enough to keep them coming back? Better customer service will help your practice grow faster and Laura offers a few ideas on how your staff can become more focused.

#182: The Wealth Building Version of a Superfood Diet

Jun 5, 2019 41:44


On this episode of the Dentist Money™ Show, Reese and Ryan offer some food for thought (or at least offer some thoughts about food) as they talk about how focusing on calories and superfoods is comparable to growing net worth.


With their current diets top of mind, listen in as Reese and Ryan offer some ideas about how eating patterns compare to the “Total Term” calculation and how it provides an effective measurement for growing net worth.

#181: How to Solve Your Student Debt Dilemma

May 29, 2019 49:47


Reese’s guest on the Dentist Money™ Show is Travis Hornsby, founder of On this episode, you’ll find out why your attitude towards debt may need some adjusting.

From federal loans vs private loans to why interest rates alone shouldn’t dictate your choices, Travis and Reese discuss numerous reasons why you need to think about student loans differently. It’s a podcast for the dentist struggling to figure out how to best handle debt … and for the student currently piling up debt.

#180: What Dentists Want to Know — Listener Q&A #11

May 22, 2019 36:27


What’s on the minds of Dentist Money™ Show listeners? Well, real estate for one. In this episode, Reese and Ryan explain the difference between the actual return investors get on real estate versus the return they think they’re getting — and they’ll show you how to calculate it correctly.

Plus there’s controversy about the actual retirement age of dentists. Find out what’s causing the ruckus. Hear both sides of the argument and then decide how the often quoted retirement statistics apply to you.

#179: Why Owning a Practice Might Not Be for You

May 15, 2019 34:45


Is the decision to buy a private practice as significant as the one you make to get married or have a child? According to Paul Goodman (the Dental Nacho), Reese’s guest on this episode of Dentist Money™, buying a practice may have more influence on your overall life happiness than almost any decision you make in your lifetime. Listen in as Reese and Paul discuss how to make sure the odds for success are in your favor.

#178: Game Over: Common Traps That Kill Financial Progress

May 8, 2019 46:58


On this episode of the Dentist Money™ Show, Reese and Ryan look at some of their favorite video games and liken their dangers to the financial pitfalls you might face as your career unfolds.

The complexity of your financial planning decisions builds as your income increases and your net worth expands. Reese and Ryan reveal how overcomplicating your finances during any stage of your career can slow down net worth growth.

To learn how to navigate through the obstacles of personal finance and advance to the next level.

#177: Management Advice from a Successful College Dropout

May 1, 2019 40:33


Reese’s guest on the Dentist Money™ Show is Jordon Comstock, founder of BoomCloud Dental Membership Software. On this episode, you’ll learn about the impact of in-house membership programs. While new clients and an additional revenue stream sound good, discover reasons why memberships may or may not be the right fit for you.

In addition, Reese and Jordon discuss how adopting best practices from other industries can benefit your practice and lead to greater productivity and increased profits.

To find out how you can tap into a new source of client revenue.

#176: Your Best Investment Could Use Some Attention

Apr 24, 2019 44:54


On this episode of the Dentist Money™ Show, Reese and Ryan examine why too many dentists concentrate on investments that pull them away from their core money-making machine: their practice.

You paid a huge price for a dental degree and the opportunity to run a very lucrative business. But are you shortchanging your potential by letting your investment attention wander elsewhere?

To learn why your practice holds the greatest possibility for net worth growth.

#175: Embezzlement Warning Signs You Need to Know

Apr 17, 2019 49:35


Ryan takes the mic on this Dentist Money™ podcast. His guest is David Harris, founder of Prosperident, a forensic investigation firm that specializes in investigating, and protecting dentists from, embezzlement. If you think embezzlement won’t happen to you, statistics show it’s highly likely to occur during your career. Ryan and David discuss what leads people to embezzle; they profile what a typical embezzler might look like, and they give you warning signs that might tip you off that something is awry.

#174: Where Vanguard Really Stands on Using an Advisor

Apr 10, 2019 51:33


Vanguard founder, John Bogle, is known for giving individual investors access to the market through low-cost index funds. The approach bypassed unnecessary management fees and allowed people to “buy the market” using diversified funds. To this day, John’s following of “Bogleheads” remains energized by his philosophy and often steers other investors toward a self-directed path. And yet, recent Vanguard studies show how guidance from an investment advisor can lead to significantly better returns. So what’s the right strategy for you? In this episode of Dentist Money™, Reese and Ryan discuss common misconceptions about Vanguard’s position, when it makes sense to hire an advisor, and the type of advice worth paying for.

#173: How to Get High-Cost Treatment Cases to Say “Yes”

Apr 3, 2019 43:58


Today, Reese welcomes Dave Roehr to the Dentist Money™ podcast. Dave is CEO of Proceed Finance, a company that specializes in affordable financing for patients thinking about cosmetics or other large treatment cases. Many patients want or even need, high-cost procedures. With only an estimated 15% of people in the U.S. able to afford to pay in cash, Dave and Reese take a close look at what you can do to reach the other 85%.

#172: Good News for People Who Like Bad News

Mar 27, 2019 50:26


War, terrorism, natural disasters, economic uncertainty. On this episode of the Dentist Money™ Show, Reese and Ryan discuss the type of news that drives ratings, and the impact it can have on our decision making.

They discuss perception versus reality and use headlines from the past to illustrate how smart investors navigate through all the noise.

#171: Here’s Where Your Profits are Hiding

Mar 20, 2019 44:10


Reese’s guest on this episode of Dentist Money™ is Elijah Desmond. Well-known for his Smiles at Sea CE Cruise conferences, Elijah talks about his entrepreneurial pursuits and offers a unique viewpoint on the many opportunities in dentistry. Having started eleven businesses and counting, he’s not only good at implementing the strategy, but his hands-on career has made him an expert on how to make any practice click.

Crystal Ball Predictions from Dentistry Experts

Mar 13, 2019 51:44


On this Dentist Money™ show, Reese and Ryan take time out to interview several well-known dental industry leaders at the Voices of Dentistry Summit. Experts from Kleer, Inspired Hygiene, Wonderist Agency, and others, chat with Reese and Ryan, and offer their unique points-of-view about the coming year. The interviews can be unexpectedly personal, and often truly powerful. It’s a one-of-a-kind show full of little golden nuggets of wisdom.

#169: Dentistry is Changing. Where Do You Fit?

Mar 6, 2019 53:17


On this episode of Dentist Money™ Reese and Ryan take a closer look at the dental industry and the growing opportunities within it. As the industry evolves, a diverse set of new jobs are becoming available. Reese and Ryan talk about why it’s important to know exactly where your skills fit in today’s marketplace. Should you grow your practice? Focus on lifestyle? Do something non-traditional? Here are a few things to consider as you make your optimal decision.

#168: Chicago’s Pediatric Dentist for the Pros

Feb 27, 2019 30:24


Reese’s special guest on this episode of Dentist Money™ is Dr. Grace Yum. Recorded at the Voices of Dentistry Summit, this interview follows Dr. Yum’s journey from hygienist to an owner of two lucrative practices in Chicago. She explains the strategy she took as an associate, and how it eventually prepared her to start two practices from the ground up. Plus, you’ll enjoy hearing the philosophies that led to Dr. Yum’s success and her ideas about practicing dentistry with a growing family.  

#167: What Dentists Want to Know — Listener Q&A #10

Feb 20, 2019 42:54


What’s on the mind of Dentist Money™ Show listeners? Well, with so many choices in dentistry, and so many young dentists wondering, Reese and Ryan weigh in on “favorite location” vs. “best opportunity.” You’ll also discover more about “momentum investing” and who uses it as an investment strategy. Plus, there’s a good discussion on the effectiveness of bonuses vs. ownership for motivating employees.

#166: Scared Straight: Why Documenting Your Work is Critical

Feb 13, 2019 47:15


Reese welcomes special guest Roy Shelburne on this episode of Dentist Money™. A popular conference presenter, Roy takes time from a busy schedule to tell his fascinating story. From spending 36 years building a successful practice to federal prison, it’s a personal journey that will both frighten and inspire you. But most importantly, as dentistry compliance issues continue to increase, it will change the way you document your work.

#165: Live from the Voices of Dentistry Podcast Summit

Feb 6, 2019 40:08


Live from Phoenix, Arizona, it’s Satur … the Dentist Money™ Show starring Reese Harper and Ryan Isaac! Enjoy this Dentist Money™ first — a full podcast recorded before a live audience. Using a few astute observations from comedian Steve Martin to theme the show, Reese and Ryan introduce a crowd of new listeners to the essentials of financial planning. Join in as Reese and Ryan get down to the nitty-gritty of why having a good financial plan is so important.

#164: The 3 P’s of Reducing Common Financial Regrets

Jan 30, 2019 43:50


On this episode of Dentist Money™ Reese and Ryan get philosophical as they discuss a list of typical regrets people feel when they get older. No one wants to feel regrets, but somehow everyone ends up with at least one or two. With so many people experiencing disappointments tied to finances, Reese and Ryan offer their advice on why it’s crucial to have a good savings plan in place as you prepare for your future.

#163: What Cows Can Teach You About Tough Markets

Jan 24, 2019 48:04


On this episode of Dentist Money™ Reese and Ryan provide coaching to help you keep your emotions in check when there’s turbulence in the markets. Creating wealth over the long haul takes patience and a solid focus on your overall goals. That’s easier said than done. Reese shares how you should really look at stocks based on his ranching experience as a youth. It’s an analogy that will change your perspective during fluctuating markets.

#162: A Dental Coach and a Financial Advisor Walk into a Podcast

Jan 16, 2019 56:35


Reese’s guest on this episode of Dentist Money™ is Dr. Richard Low, host of the Shared Practices Podcast. With two podcast hosts asking each other questions, Reese and Richard cover a wide range of topics—from target date funds vs mutual funds vs index funds, to selecting the right type of mortgage depending where you are in your career. It’s two podcast hosts for the price of one!

#161: What Dentists Want to Know - Listener Q&A #9

Jan 9, 2019 44:17


What’s on the mind of Dentist Money™ Show listeners? Well taxes for one—especially as another year just ended and filing is just around the corner. And you’ll want to hear if the interest rate on your debt makes any difference between paying down loans or investing. Plus, you’ll find out why creating passive income not exactly what you’ve learned—and why that matters as you invest.

Dentist Money™ Show #160: Get Ready for a Fight Over Practice Ownership

Jan 2, 2019 46:38


Jason Wood is Reese’s special guest on this Dentist Money™ Show. Jason’s law firm, Wood & Delgado, specializes in helping dentists with a wide variety of dental-related legal issues. In this episode, Reese asks Jason to look into the future and project what the dental industry might look like in 10 to 20 years. Jason’s vision may surprise you as current trends indicate major changes. Find out what can be done to fight the takeover of dentistry by large conglomerates.


To take a peek into the future of dentistry with an industry expert:

Dentist Money™ Show #159: The Word Steve Jobs and Warren Buffet Use to Measure Success

Dec 26, 2018 49:25


On this episode of Dentist Money™ Reese and Ryan reveal what it takes to get on, and then stay on, your optimal path for wealth creation. There’s one critical word that both Steve Jobs and Warren Buffett said will give you powerful decision-making confidence. In today’s competitive climate, you need to know how to make pivotal career and investment decisions with clarity.


To learn how successful entrepreneurs eliminate wealth-building distractions:

#158: Borrow Against Your Life Insurance Policy: Yes or No?

Dec 19, 2018 45:22


The “Controversial Opinion Alert” sign is up and flashing for Reese and Ryan’s discussion on this episode of Dentist Money™. Everyone knows there’s a place for life insurance in estate planning - but is there really a “secret sauce” that makes life insurance a more powerful choice to borrow against than other equity building assets? Clever marketing messages from the life insurance industry say there are. Tune in to hear what Reese and Ryan have to say.


To find out which one of your assets is the best to borrow against:

#157: Award Winning CEO of Cotopaxi Shares the Rule of 3's

Dec 13, 2018 48:53


On this episode of Dentist Money™, Reese interviews Davis Smith, CEO, and Founder of Cotopaxi, one of the world’s fastest-growing outdoor gear brands. Davis shares his experiences and advice on what it takes to build a fulfilling and profitable business - and how to improve your hiring process. Plus, you’ll hear how to set clear core business values, which can unite your team and cultivate a more productive office culture. To find greater practice success, view your business through the eyes of an acclaimed entrepreneur.


Find out what it takes to create a value-oriented and unified team.

#156: 3 Critical Ingredients for Your Decision Making Recipe

Dec 5, 2018 49:23


Learn how to take your decision making beyond pros and cons. You hear it at the beginning of every show: “We help dentists make smart financial decisions.” In this episode of Dentist Money, Reese and Ryan (with a shout out to Benjamin Franklin), dive into the decision-making process. You’ll learn how a combination of information, well-defined processes, and personal accountability lead to more confidence and better outcomes. Plus, you’ll hear them discuss if and when it makes sense to trust your personal instincts.

#155: What Dentists Want to Know — Listener Q&A #8

Nov 28, 2018 44:33


Individual stocks, do they have a place inside your investment portfolio? What’s on the mind of the Dentist Money™ Show listeners? You’re about to find out! With tax season around the corner, discover how to best utilize pre-tax savings accounts like 401(k)’s and IRAs vs after-tax options like Roth IRAs. Listen as Reese and Ryan talk about individual stocks and where they might fit in your overall approach to investing—and what growth strategy will actually have the biggest effect on your net worth. It might surprise you.

#154: Reducing Year End Taxes Could Be as Easy as 1-7-9

Nov 21, 2018 51:38


Reese’s guest on this Dentist Money™ Show is Jonathan VanHorn, owner of DentistMetrics, a national CPA and accounting firm that helps dentists reduce their tax burden. With 2018 almost in the books, taxes may be on your mind. On this episode, Reese and Jonathan talk about the best money-saving uses of the Section 179 tax code when it comes to equipment depreciation. It’s a timely discussion that includes why trying to move into a lower tax bracket can be significant. Get ready for some year-end planning ideas, and a conversation that should interest every dentist.


#153: What are the Hidden Costs of Timing the Market?

Nov 14, 2018 58:20


The actual cost of market timing could be higher than you’re willing to pay. On this episode of Dentist Money™, Reese and Ryan discuss the difference between thinking you’re in control—and actually being in control. They examine, how acting on that impulse can lead to poor financial performance and the emotional cost of market timing. They tie it all together with some suggestions on how to rethink your approach to market fluctuations and why a long-term, globally-diversified approach to managing your portfolio helps eliminate the risk of emotional investing.


Are you ready to dive into the actual cost of market timing?

#152: The Top 10% of Dentists Have This in Common

Nov 7, 2018 45:06


Dr. Justin Short, founder and creator of "The Lifestyle Practice," and co-author of the new book "The Titans of Dentistry: How the Top Performers Think and Act Differently," is Reese's guest on this episode of Dentist Money™. Reese and Justin discuss the top traits and skills it takes to move into the top 10% of dentists - and Justin shares the good, bad, and ugly moments that shaped his career path and led him to both personal and professional success.

#151: How Fast Should Your Net Worth Grow?

Oct 31, 2018 51:10


One simple formula can bring your entire financial picture into focus. Do you know what it is? On this episode of Dentist Money™, Reese and Ryan discuss an English Friar, the Principle of Parsimony, why Reese hates peacocks—and why tracking your net worth is a critical part of understanding your financial health. They break down the net worth formula and explain the pace at which yours should grow. It’s a back-to-basics conversation to help you spend your energy on the fundamentals that matter most.

#150: How to Avoid Becoming a "Drive By" Dental Practice

Oct 24, 2018 40:38


On this episode of Dentist Money™, Reese and Ryan discuss how dentists can successfully position practices to “know what they are not” - and how to avoid becoming a “drive-by” dental practice. Plus, they discuss ways to build a thriving team, celebrate success with patients and - and why dentists could learn a thing or two from the Foo Fighters.

#149: Are Uninsured Patients the Key to Boosting Profitability?

Oct 17, 2018 39:36


On this episode of Dentist Money™, Reese interviews Dave Monahan, CEO of Kleer. Dave offers his expert take on why uninsured patients are avoiding the dentist because they overestimate the cost of treatment, and how implementing subscription pricing can help overcome that concern. Plus, you’ll hear some surprising statistics on dental insurers' profit margin, and why cutting them out—when you can—will increase your bottom line.

#148: What the Heck Does “Financial Planning” Even Mean?

Oct 10, 2018 52:18


You need financial advice, but how can you judge whether you’re getting real value from your “advisor?” In this episode of Dentist Money™ Reese and Ryan discuss how financial planning services are still in their infancy, and why so many advisors misuse the word “planning.” They also discuss the building blocks of a comprehensive plan. And, since financial planning isn’t a term either of them care for, you’ll finally hear why every Dentist Advisors podcast opens with “helping dentists make smart financial decisions.”

#147: Profitability Advice from a Dental-Specific CPA

Oct 3, 2018 50:01


When’s the last time you gave your practice a financial x-ray? Would an expert accountant find any hidden problems? Morgan Hamon, founder of HDA Accounting Group, is Reese’s guest on this episode of Dentist Money™. By focusing his firm’s tax, accounting, and consulting services solely on dentists, Morgan has gathered valuable benchmarking data to measure key performance indicators of a dental practice. During this interview, he shares his thoughts on profitability improvement and overhead management. He also discusses if and when it’s time to invest in more growth.

#146: Can NBA Analytics Revolutionize Your Personal Spending Plan

Sep 27, 2018 51:29


Are you ignoring the most effective shot in your financial planning arsenal? In this episode of Dentist Money™ Reese and Ryan discuss how to rethink your approach to personal spending by using the money-ball analytics behind the NBA’s recent 3-point shooting revolution. And this is no boring, painful discussion about “budgeting.” Reese and Ryan deliver hope-inspiring advice on how to use effective financial planning to live a more enjoyable life both now, and in the future.

#145: 6 Secrets to Hearing “Yes” from Your Patients More Often

Sep 19, 2018 46:35


More referrals, fewer no-shows and higher case acceptance? It’s not too good to be true. Dr. Chris Phelps, a best-selling author and the only dentist with Cialdini Method Certified Trainer credentials, is Reese’s special guest on this episode of Dentist Money™. In this show he and Reese explore six ways to positively persuade people when they’re making decisions. As a practice owner, knowing these techniques can help you create a more productive office environment—and build your practice as you get more patients to say “yes” to treatment.

#144: What Dentists Want to Know — Listener Q&A #7

Sep 12, 2018 47:17


You’ve seen the headlines: “Bull Market!” Or, “A Bear is lurking!” What do these two terms really mean for your investments? It’s time for another round of listener questions on this episode of Dentist Money™. Are we in a Bull market? How do you know it’s a Bear market? Reese and Ryan help define these overused terms, and show how a long- or short-term investment attitude really shapes the definition. And since they’re defining terms, they also discuss net worth, how it’s measured, and where you might expect yours to be at different points in your career. Finally, Reese and Ryan have a few thoughts on HSA strategies—and how that medical savings opportunity can fit into your retirement planning.

#143: Are You Addicted to “The New Patient Fix?”

Sep 5, 2018 43:09


Learn how to maximize profit for each patient who comes through your door. In this episode of Dentist Money™ Reese interviews Dr. Rich Madow, co-founder of The Madow Center for Dental Practice Success, host of TBSE (The Best Seminar Ever), successful author, highly-entertaining speaker, and award-winning composer. Reese and Rich offer practical solutions to many of the issues you face as a practice owner, from how to increase profits to how to ensure your team works well together. We promise a good time—and some great insight into what it takes to run a successful practice.

#142: The Naked Truth About Being Afraid

Aug 29, 2018 50:08


What do sharks, snakes, surfing, and mosquitoes have in common? In this episode of Dentist Money™ you’ll find out as Reese and Ryan talk about scary things that make you worry at the expense of other things you should be more concerned about. Of course the focus is on investing and how your fears might affect your future, but there’s nothing like a great analogy to get a good discussion rolling. Take a closer look at your financial fears, you may be obsessing about the wrong thing.

#141: Could Increasing Speed and Patient Count Hurt Your Production?

Aug 22, 2018 46:10


What’s the relationship between patient volume and practice growth? In this episode of Dentist Money™ Reese interviews Dr. Bruce Baird, practicing dentist and Founder and President of the Productive Dentist Academy. If you think being more productive means increasing your speed and adding more patients, you need to hear Dr. Baird’s practical advice. He’s helped thousands of dentists improve their productivity—and they’ve done it while working fewer hours. Listen as Reese gets Dr. Baird to share his recipe for increasing collections without working yourself into the ground.

#140: The Top Financial Concerns from a Poll of Top Dentists

Aug 15, 2018 49:36


Are you struggling with the same financial challenges as other dentists? Reese recently posted a survey in a popular online dental forum asking dentists what they were most concerned about when it came to their finances. In this episode of Dentist Money™ Reese and Ryan share the results of the poll and shed light on the two most popular responses. Take a second to think about the source of your financial stress, and then listen to see if you’re in good company. The results might surprise you.

#139: How the Editor of Dental Economics Manages His Practice

Aug 8, 2018 47:43


In this episode of Dentist Money™ Reese interviews Dr. Chris Salierno, chief editor of Dental Economics magazine and international lecturer. You’ll hear why the days of passive practice ownership are over. You’ll also learn about resources that can help you think more strategically and improve your business model. Plus, Reese and Chris have fun covering a few typical dentist issues in a fast paced lightning round.

#138: Do Big Pension Fund Investors Know Something You Don’t

Aug 1, 2018 44:51


Does it make sense for you to invest like big pension fund managers? The answer may surprise you. In this episode of Dentist Money™ Reese and Ryan take a close look at how investments for large endowments are managed. You’ll hear about the mix of assets in these portfolios, and you’ll learn how “alternative” investments have played into their strategies. Most importantly, you’ll discover if it makes sense for you to follow suit with your own investments.

#137: Feeling Isolated? Here’s How to Build a Network of Dental Amigos

Jul 25, 2018 49:22


Are you creating a network of experts to help you build a successful practice? According to the Dental Amigos, Robert Montgomery and Dr. Paul Goodman, “Dentistry can be a lonely profession without good friends.” In this fast-paced episode of Dentist Money™, Reese, Robert, and Paul cover everything from servicing student debt to DSO’s to startup vs acquisition. And you’ll want to hear The Dental Amigos explain why networking is so critical to today’s successful practice. Plus, Reese pulls out a Dentist Money™ favorite—the Lightning Round.

#136: What Dentists Want to Know — Listener Q&A #6

Jul 19, 2018 47:08


Reese and Ryan knock out another round of questions on this Q&A episode of Dentist Money™. Hear their advice on what to look for in companies that provide after-tax investment services. And, in the always a “hot topic” category, you’ll hear them discuss the trade offs between paying down debt versus building liquidity. Plus, there’s a new wrinkle in this episode as Reese and Ryan pull quotes from a social media discussion on the same topic—so you’ll hear how other dentists view the debt and liquidity conversation.

#135: Surprisingly Effective Ways to Communicate with Your Staff

Jul 12, 2018 46:27


Are you getting through to your staff? Learn communication skills that deliver rapid results. Katherine Eitel Belt is CEO of LionSpeak, a communications coaching company, and she is Reese’s guest on this episode of the Dentist Money™ Show. An international keynote speaker, author and coach, Katherine is known for her non-traditional approach to leadership and team building. Listen as she shares her unique viewpoint — one that can help you become a better leader and get you on the same page with your staff and patients. More importantly, you’ll find out how Katherine’s suggestions can help you put your business on a solid growth path.

#134: Are You Paying for Generic Advice You Could Get for Free?

Jul 4, 2018 53:51


It’s time for Reese to take the hot seat as we switch things up a bit for this episode of Dentist Money™. Dr. Russell Kirk takes the lead and interviews Reese for The Business of Dentistry podcast. Enjoy a different point-of-view as Dr. Kirk asks the questions and Reese offers his advice. And Reese has plenty to share with ideas on how a well-planned financial strategy can make a huge difference to both your practice and your preparation for retirement.

#133: Here’s What’s Wrong with Your Investment Risk Profile

Jun 28, 2018 50:50


Do you remember completing a risk assessment the last time you set up an investment account? Did it really set your savings plan on the right trajectory, or did it simply cover your advisor’s butt in case you weren’t happy with the eventual returns? In this episode of Dentist Money™, Reese & Ryan talk about an Element called Equity Rate from our periodic table of financial indicators. They explain why traditional risk assessment tools fall short of measuring your investment needs, and how they miss the mark when it comes to creating the right balance of stocks and bonds in your portfolio.

#132: What Dentists Want to Know — Listener Q&A #5

Jun 20, 2018 47:50


Do wealthy people offer the best financial advice? What benefits should I offer my employees? Remodel my home or buy a new one – what’s the right choice? Reese and Ryan tackle these three questions on this Q&A episode of Dentist Money™. You’ll hear Ryan list four types of people Forbes says you should avoid taking advice from — it might surprise you. And you’ll find out what other group practices do when it comes to employee benefits. Plus, Reese has a lot to say about buying or remodeling as he recently went through that decision himself.

#131: Pros and Cons of a Scratch Start vs Acquisition

Jun 13, 2018 53:28


What path should you take to practice ownership – start-up or acquisition? For the past decade Jayme Amos has coached numerous dentists on how to achieve greater satisfaction from practicing dentistry. On this episode of the Dentist Money™ Show, Jayme shares with Reese how personality traits should be factored into business decisions. And he discusses the important differences between starting a practice from scratch, or purchasing an existing practice. As an expert on work/life integration, Jayme also has some suggestions on how you can build a practice that reflects your personal values.

#130: Why a Cheap 401(k) Provider Will Eventually Cost You More

Jun 6, 2018 49:21


By ignoring your office retirement plan, are you making a seven-figure mistake? On this Dentist Money™ Show, Reese and Ryan talk about qualified retirement plans and why a yearly review makes such a huge difference. You’ll hear why the cheapest 401(k) provider may not really be the least expensive. And, you’ll find out how to avoid getting surprised by employee plan fiduciary responsibilities and liabilities from falling on you, which occurs more often than you think.

#129: Peak Practice Performance Starts With This

May 30, 2018 47:27


It’s one of the biggest problems that keeps struggling practices from succeeding. On this episode of the Dentist Money™ Show, Patty Ricard, dental practice manager, consultant and life coach, addresses a common issue in office management, and shares her keys for your practice to reach peak performance. She talks with Reese about what methods you can use to build better patient and team loyalty – and why instituting just a few changes can lead to more profitability.

#128: What Are Your Best Options for Passive Income?

May 23, 2018 47:24


How will you create cash flow that requires minimal effort? On this Dentist Money™ Show, Reese and Ryan discuss something people love to daydream about – passive income. You’ll hear how real estate measures up to other passive income options and learn about the two main components of passive income. And you’ll find out what it means to harvest your assets correctly in order to make them last longer.

#127: What You Need to Know Before You Expand Your Practice

May 16, 2018 37:09


How did this dentist go from associate to a 28-operatory multi-speciality practice? In this episode of Dentist Money™, Reese interviews Dr. David Bender who shares how he expanded his services and built such a large scale operation. Dr. Bender talks about the financing decisions he faced, DSO versus private practice considerations, partnership agreements, and how personality plays into business decisions.

#126: What Dentists Want to Know — Listener Q&A #4

May 9, 2018 46:38


Is there a “right way” to pay your family members through your business? When is it the right time to hire a financial advisor? Should I start a private practice? All three of these questions have something in common. They’re the topics discussed on this Q&A episode of Dentist Money™. Reese and Ryan give their advice on what tax saving vehicles to use when paying kids; they discuss the right timing for hiring a financial advisor; plus they share their reasons why opening a private practice isn’t necessarily the right choice for every dentist.

#125: Four Harmful Investment Behaviors and How to Avoid Them

May 2, 2018 49:14


What do guinea worms, selfies, and sharks have to with behavioral finance? You’ll be surprised how they fit together in this fascinating episode of Dentist Money™. Reese Harper, CFP® welcomes Dr. Daniel Crosby, psychologist, behavioral finance expert, and New York Times best-selling author of The Laws of Wealth. Their discussion covers a variety of behaviors that affect the way people invest. Find out how your investment decisions might be distorted by your own emotions.

#124: Why Higher Practice Value Can Lead to Better Investment Returns

Apr 25, 2018 34:26


How does practice equity fit into your overall asset mix? As you build your net worth, do you consider how much your practice will contribute to your retirement? In this Dentist Money™ Show, Reese and Ryan explain how to prioritize your practice in relation to other assets like real estate, investments, and retirement accounts. They also explain how growth of one asset type can lead to growth of another.

#123: Will Transitioning to a DSO Make You More Money?

Apr 18, 2018 39:57


It could be the #1 question on dentist’s minds: “How will the growth of DSOs affect my practice?” In this Dentist Money™ interview from the Dental Success Summit, Reese Harper, CFP® welcomes attorney Brian Colao, Director of Dykema’s Dental Service Organizations Industry Group. Brian represents several DSO venture capitalists and shares his view on the DSO business model compared to solo, multi-location, and group practices. He explains when it makes sense to transition to a DSO, how ownership structure differs from traditional practices, and the implications of selling to a DSO buyer versus a private practitioner.

#122: How Much Disability Coverage Do You Need?

Apr 11, 2018 55:34


What would happen if health issues prevented you from practicing dentistry? Would your current disability policy keep you afloat? In this episode of Dentist Money™, Reese & Ryan discuss a financial indicator from the Elements® table called Insurance Rate, and the performance benchmarks calculated during a recent analysis for Dentist Advisors clients. They touch on a few considerations for life insurance coverage, and dive deep into the features and definitions within disability policies that can have a major impact on a dentist’s financial security.

#121: 4 Ways to Grow Your Practice with Social Media

Apr 4, 2018 38:25


How does social media influence the type of patients you attract? Beyond new patients, how can social media be used to grow your business? In this interview at the Greater New York Dental Meeting, Reese Harper, CFP® interviews Jack Hadley, founding partner of My Social Practice and MBA professor of social media marketing. Jack explains how social media can be used to strengthen relationships, describes some simple methods dentists can use to create effective content, and talks about leveraging your “alpha” audience to grow faster.

#120: What Dentists Want to Know — Listener Q&A #3

Mar 28, 2018 54:33


What’s on the minds of one Pedo and two GPs? Debt repayment, retirement plan consolidation, and equipment budgeting. And in this episode of Dentist Money™, Reese & Ryan address each of these listeners’ questions by reacting to a well-known blogger's advice about debt, explaining the right way to fund new retirement accounts, and describing how equipment should be viewed from an investment perspective.

#119: What Would Happen if You Lost Your Office Manager?

Mar 21, 2018 43:22


Is your office manager irreplaceable? Or do you have systems in place to stay afloat if you had to find someone new? In this Dentist Money™ interview, Reese welcomes Kiera Dent, founder of Dental Masters and practice consultant for dentists across the country. Kiera covers issues related to embezzlement risk, office manager dependency, daily reporting, and setting budgets for staff. She also shares three simple things you can do to boost production immediately.

#118: A Rant to Make You Rethink Target Date Funds

Mar 14, 2018 45:32


Have you looked into target date funds as an investment option? A lot of dentists are drawn to this seemingly safe, inexpensive, and low maintenance way to save for retirement. But there’s often a misunderstanding about why these funds exist and who should be using them. In this episode of Dentist Money™, Reese & Ryan explain the intent of target date funds, the limitations they impose for dentists, and how they often get misused.

# 117: The #1 Thing Dentists Wish They’d Known Before a Transition

Mar 7, 2018 25:14


What are your options when it comes to buying or selling a practice? Will it be a gradual buyout or a clean break? In this episode of Dentist Money™ recorded at the Greater New York Dental Meeting, Reese Harper, CFP® welcomes Wayne Oplinger, Transitions Analyst at Benco Dental who shares the most common mistakes dentists make when going through transitions. He talks about the current state and future outlook of the dental practice market, observations he’s made during hundreds of interactions with practice owners, choices and variables to consider when planning a transition, and the biggest regret dentists usually face after selling their practice.

#116 How Much Money Does a Dentist Need to Save?

Mar 1, 2018 42:23


How does your savings rate compare to other dentists? More importantly, how much money should YOU be putting away each month? In this episode of Dentist Money™, Reese and Ryan cover Savings Rate fundamentals and recap a few insights gained from this month’s Elements® analysis for clients of Dentist Advisors. They talk about appropriate levels of saving, how Savings Rate might change throughout a dentist’s career, and why the advantages of a balanced savings plan go beyond building a financial reserve.

#115: Does Your Study Club Feel Like a Waste of Time?

Feb 21, 2018 38:55


How would you rate your study club experiences? Do they add real value or do they seem unproductive? In this episode of Dentist Money™, Reese welcomes Dr. Martin Mendelson, Executive Vice President of Client Services at Spear Education. In this interview, Dr. Mendelson shares the keys to cultivating a successful study group. He also explains the roles of coaches, consultants, and mentors in a dentist’s life and the mindset of practice owners who embrace continuous improvement.

#114: What Dentists Want to Know — Listener Q&A #2

Feb 15, 2018 52:17


Do you have burning questions about your personal or practice finances? In this episode of Dentist Money™, Reese & Ryan respond to three dentists who submitted questions about office retirement plans, annuities, and “backdoor Roth” accounts. Advice includes the bigger picture around retirement plan selection, questions to ask about your existing annuities, and how cash flow plays into investment account decisions.

#113: Here’s What’s Changed About Practice Management

Feb 8, 2018 33:34


What’s the right balance of delegation and direct involvement? As the CEO of your practice, do you have enough information to be strategic, but not so much that it bogs you down? In this episode of Dentist Money™ Reese Harper welcomes Penny Reed who explains how practice management has evolved over the past twenty-five years. Penny is a renowned speaker and author, and has coached dentists across the country to become more profitable through better delegation and accountability. In this interview, she discusses the true value of a good consultant, how your personality should play into business decisions, and common mistakes that lead to poor office cultures.

#112: Why You Need to Know Your Liquid Term

Feb 1, 2018 40:32


How much cash should you keep on hand? Beyond an emergency fund, what are the advantages of maintaining adequate liquidity? And at what point have you accumulated too much cash? In this episode of Dentist Money™ Reese & Ryan dive into a calculation called “Liquid Term” from the periodic table of financial Elements® and recap findings from last month’s client performance analysis. They raise common questions around cash management, highlight the lesser known advantages of having enough liquidity, and describe how a dentist should expect liquidity to grow over the course of a career.

#111: How to Keep Your Practice from Hitting a Plateau

Jan 25, 2018 51:27


What does it take to build a business beyond yourself? Even if you’re the only producer, how can you maintain the humanity of your practice as you grow? In this Dentist Money™ interview recorded at the Greater New York Dental Meeting, Reese welcomes Peter Shallard, Founder of Commit Action, and personal coach to entrepreneurs from Silicon Valley to Wall Street. Peter discusses the intersection of business and psychology, and explains why it’s so easy for dentists to become their own worst enemy when trying to grow a practice. He talks about the lies business owners often tell themselves, how burn out usually sets in, and the danger of an all-or-nothing thinking.

#110: What Dentists Want to Know — Audience Q&A #1

Jan 18, 2018 45:37


The listeners asked, and we responded. But it was mostly by email, and the people who asked the questions were the only ones who got the advice. So we had an idea: “Let’s choose the best financial questions from our loyal listeners and answer them on air.” Then we high fived each other and made this episode. You’ll hear Reese & Ryan answer a liquidity question from a graduating dental student, an entity structure question from a mid career dentist, and a retirement plan question from a practice owner in his 60’s.

#109: Are You Investing in Your Practice’s Most Valuable Asset?

Jan 10, 2018 53:01


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 view on the new standard of care in dentistry.

#108: This is Why Dentists Feel Too Busy

Jan 4, 2018 51:26


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.

#107: How to Compare Your Tax Rate to Other Dentists

Dec 27, 2017 46:38


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 tax rate to your peers’.

#106: The Truth About Annuities

Dec 21, 2017 50:18


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 expected.

#105: Morning Routines that Will Make You a Better Practice Owner

Dec 13, 2017 43:45


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 successful practice owners in Colorado, and offers his formula for greater fulfillment — both personally and professionally. He describes his daily routines, how he stays in the moment, and two core principles that changed the trajectory of his practice.

#104: When Will the Stock Market Bubble Burst?

Dec 7, 2017 35:56


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 should ask to ensure their portfolios remain bubble-proof.

#103: Are You Tired of Insurance Companies Running the Show?

Nov 29, 2017 59:00


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 like: When should I hire my next front office employee? Should I continue to use my lab or buy a CEREC? When is it time to part ways with an employee? When should I hire an associate? When is it time to sell my practice?

#102: How Fast Should You Pay Off Your Loans?

Nov 23, 2017 57:22


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 a dentist’s career.

#101: Are You Thinking About Investing in Bitcoin?

Nov 16, 2017 54:52


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 (for better or worse).

#100: How Much Insurance Does a Dentist Need?

Nov 9, 2017 49:27


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 elements of a dentist’s risk profile that aren’t covered by insurance.

#99: Ask These Questions Before Investing in a Startup

Nov 2, 2017 46:39


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 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 should consider before jumping in.

#98: Don’t Get Caught Asking this Question About Financial Markets

Oct 26, 2017 52:48


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 products we buy in our everyday lives.

#97: 3 Big Decisions Dentists Should Never Rush Into

Oct 19, 2017 37:55


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 guidance for choosing less expensive and more effective alternatives.

#96: What You Need to Know About Financial Advisor Fees

Oct 12, 2017 46:44


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 to align clients’ best interest with advisor incentives.

#95: This is Why Dentists Spend Too Much Money

Oct 5, 2017 40:23


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.

#94: The Reason You Should Treat Your Investment Portfolio Like a Dental Practice

Sep 28, 2017 41:14


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.

#93: The Problem With Having Plenty of Cash

Sep 21, 2017 42:51


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 overcoming economic atrophy.

#92: How to Stop Your Practice from Bossing You Around

Sep 14, 2017 44:03


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 dentists get discouraged along the way, and provide three important keys to building a profitable practice while maintaining work life balance.

#91: How a $2 Billion Private-Equity Fund Went Bust

Sep 7, 2017 46:24


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.

#90: 2 Big Bets Dentists Make that Delay Retirement

Aug 31, 2017 33:44


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.

#89: 7 Signs You’re About to Get Hosed

Aug 23, 2017 44:14


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.

#88: 3 Similarities Between Top-Tier Dentists and World Class Athletes

Aug 17, 2017 42:11


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.

#87: Do Your Investments Suffer Because of Where You Live?

Aug 10, 2017 41:10


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.

#86: Why Most Dentists Miss Out on Bull Market Gains

Aug 3, 2017 48:24


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.

#85: One Trait Wealthy Dentists Adopt Early in their Careers

Jul 27, 2017 34:26


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 translates to long term financial success.


Show notes:

#84: What Smart Dentists and UPS Drivers Have in Common

Jul 20, 2017 38:38


What can brown do for you?
In the early 2000s, UPS unveiled a new way to navigate its routes. The idea seemed too simple to be effective, but it drastically improved productivity and saved the company millions of dollars. In this episode of Dentist Money™, Reese & Ryan compare the attributes of a well-run shipping company to those of a good financial plan and explain what it means to have an efficient investment portfolio.

#83: 4 Questions Your Advisor Should Be Able to Answer

Jul 13, 2017 32:40


What is the role of a good advisor? It depends who you ask, which is part of the problem with the financial industry—there’s no real consensus. In this episode of Dentist Money™, Reese & Ryan explore the spectrum of services offered within financial planning and how some advisors fall short of expectations. They also explain the difference between performance-based and advice-based planning.

#82: The Numbers Dentists Need to Know to Retire Better

Jul 6, 2017 51:39


When will you have enough money to make work optional? Are you building the right mix of assets? Is your tax rate minimized? Do you have the proper amount of insurance? In this episode of Dentist Money™, Reese and Ryan introduce a periodic table of twelve key indicators called Elements® which gives dentists a straightforward way to answer the some of the most difficult questions about their financial health.


Tt Guide Book Download

4 Keys for Dentists Download

#81: The Biggest Reason Dentists Get Bad Financial Advice

Jun 29, 2017 34:32


Do you know how your advisor gets paid? If not, there’s a good chance your best interest is taking a back seat to handsome commission checks and all-expenses-paid vacations. In this episode of Dentist Money™, Reese and Ryan describe a hypothetical DSO where production incentives are out of whack and patients are getting the raw end of the deal. Then they draw a comparison to the way many financial firms compensate their advisors.


Listen to the podcast then visit:

#80: Why Dentists Retire 6 Years Later Than the Average American

Jun 22, 2017 58:59


How is it possible that the average dentists retires later than the average American? Income can’t be the reason — dentists are among the highest earners in the country. And you can’t put all the blame on personal spending when there’s an entire web of variables to consider. In this episode of Dentist Money™, Reese & Ryan cover five main reasons dentists have a difficult time holding onto their income and building enough wealth to retire comfortably.

#79: 5 Misunderstood Financial Quotes

Jun 15, 2017 58:42


Milton Friedman, Peter Lynch, Warren Buffett. When financial advice comes from a nobel laureate, a legendary mutual fund manager, or an Oracle of Omaha, people tend to listen. But do they really understand the context of the advice? In this episode of Dentist Money™, Reese and Ryan dissect quotes from five famous economists and clarify the intended message of each. They also explain how the principles taught can be applied to dentists.

#78: Is Your Custodian Messing with Your Money?

Jun 8, 2017 57:22


Are your investments protected from conflicts of interest? What is the relationship between your advisor and the custodian of your accounts? In this Dentist Money™ episode, Reese & Ryan discuss the role of a custodian, why it matters who your custodian is, and how investors have lost fortunes by trusting the wrong people. They also explain how custodians get paid and provide tips for protecting yourself from investment fraud.

#77: Should You Invest Your Extra Cash All at Once?

Jun 1, 2017 37:08


Are you hesitant to invest your extra cash? If that emergency fund has turned into an emergency fortune, it’s probably time to let your money spread its wings in the market. In this episode of Dentist Money™, Reese & Ryan discuss findings from a Vanguard study which compares two common approaches to investing large amounts of cash: Lump Sum Investing and Dollar Cost Averaging. They explain the tradeoffs of each approach and the factors to consider before deciding which strategy will work best for you.

#76: A Fifth Grader’s Guide to Becoming a Wealthy Dentist

May 25, 2017 51:24


Should you pay someone else to do a job you can handle yourself? As a practice owner, you might struggle to know when it makes more sense to outsource or keep things on your own plate. In this episode of Dentist Money™, Reese and Ryan explore the fundamentals of trade, specialization, and opportunity costs, and how economic lessons taught to fifth graders can help dentists improve their net worth.

#75: Do You Turn Your Back on These Front Office Mistakes?

May 18, 2017 41:20


Do you know what’s happening in your front office? Has your staff been properly trained to offer appointments, ask for payments, and deal with cancellations? In this Dentist Money™ episode, Reese welcomes Laura Hatch, founder of Front Office Rocks, an online resource for dentists who need specialized training for their team on all aspects of the front desk. Laura discusses the four most common challenges in the front office and their financial impact on a practice. She also offers solutions to improve communication within the office, strengthen your value proposition against the competition, and increase case acceptance.


Show notes:

#74: What Beanie Babies Can Teach Dentists About Money

May 11, 2017 44:52


Have you ever made a financial decision on the grounds that “everyone else is doing it?” When all the facts aren’t readily available, human nature is to follow public opinion. But the herd can lead you off a cliff if you’re not careful. In this episode of Dentist Money™, Reese & Ryan reflect on recent financial trends that led mobs of people to the poor house. They also provide a list of common investment bandwagons that leave dentists holding the bag.

#73: Should You Pay Down Debt or Invest?

May 4, 2017 43:02


Let’s say you have an extra $30,000 in cash. You can pay down a loan with a 6% interest rate or invest in a retirement plan which could return anywhere from -10% to +10% this year. What should you do? In this episode of Dentist Money™, Reese and Ryan dive into the not-so-simple answer and explain why a lot of people get it wrong. They also weigh in on the pros and cons of cost-driven investment portfolios and provide a list of questions to ask before locking yourself into a loan.

#72: Are Your Marketing Dollars Going to Waste?

Apr 27, 2017 42:12


Marketing pioneer John Wanamaker said, “Half the money I spend on advertising is wasted; the trouble is I don't know which half.” As a practice owner, you might feel the same way. The challenge of measuring marketing results can be especially difficult for small businesses that have plenty of questions and not enough time to answer all of them. In this Dentist Money™ interview, Reese welcomes Wendy Phillips, founder of Big Buzz, who implements customer-focused dental marketing solutions for practice owners across the country. She highlights the most common marketing mistakes in dentistry, describes what to look for in a marketing agency, and provides inexpensive solutions for market research.

#71: One Way You’re Probably Losing Money on Your Investments

Apr 20, 2017 37:37


Remember the last time your retirement account took a hit? A lot of people do. You might have questioned the quality of your portfolio and the competency of your advisor. (Your concerns might have been valid by the way). Regardless of who or what’s to blame, losing hurts, and behavioral psychologists have spent years researching how pain avoidance can influence major financial decisions. In this episode of Dentist Money™, Reese and Ryan explain how the fear of losing money can lead to losing more money. They also provide guidance for gaining emotional clarity so you can invest with more confidence.

#70: 5 Mistakes Dentists Make to Fall Behind the Competition

Apr 13, 2017 47:42


Do you ever wonder if you’re overlooking simple business fundamentals that could take your practice to the next level? Do you struggle to articulate your priorities as a business owner? While the decisions you make throughout your career are endless, there are basic principles that give the best business leaders an edge over the competition. In this episode of Dentist Money™, Reese welcomes Tanner Milne, founder of Menlo Group, the largest dental real estate brokerage firm in Arizona. In this interview, Tanner takes off his real estate cap and speaks to dentists as a business owner who understands the growing pains of entrepreneurship. He offers insights for better hiring, better planning, and better marketing to keep your practice thriving.

#69: 4 Common Ways Dentists Lose Money

Apr 6, 2017 51:24


Did you know the average American wastes 55 minutes a day, or about 12 days a year, looking for things they own but can’t find (Newsweek)? If it’s lost keys, you could be late for your morning staff meeting. If it’s important financial information, the setback is likely more severe. In this episode of Dentist Money™, Reese & Ryan discuss common ways dentists lose money simply because they don’t know where to find the right information. They explain the preparation that should go into each decision-making scenario and calculate the cost of being unorganized.

#68: How to Avoid Expensive Leadership Mistakes

Mar 30, 2017 48:57


Reese welcomes Denise Leleux, a leading expert on end-to-end client experience whose 26-year resume includes a position as VP of Global Customer Experience at eBay where she mentored top business leaders and managed a team of 6,000 employees. In this episode of Dentist Money™, Denise draws on her client-communication expertise and the observations she’s made while in the chair at dental practices from Dallas to Denver and Louisiana to London. She offers priceless advice on dealing with difficult office managers, unifying your staff, and translating your business mission into unforgettable client experiences.

#67: 3 Keys to Building Wealth While Working Less

Mar 23, 2017 51:37


How much is an hour of your time worth? In terms of earning potential, it could be anywhere from a few hundred dollars to over a thousand. You can quantify it with a little bit of math. But salary aside, how much value can you really place on your time? Afterall, once an hour is spent, you can’t ever get it back. In this episode of Dentist Money™, Reese & Ryan explain three core principles dentists can follow to maximize their time so they can build wealth more efficiently. They also describe dentists who have mastered the art of being an “entreprofessional.”

#66: 5 Ways Dentists Can Improve Profit Margins

Mar 16, 2017 27:49


Dentistry is what you do, but money is what you make. And unless you keep an eye on overhead, just making ends meet might be hard enough. In this episode of the Dentist Money™ Show, Reese Harper welcomes CPA, Andrew Schwartz who works with hundreds of dentists and understands the science of overhead distribution. He explains how much dentists should spend on staff, when you know your margins are too low, and common themes he’s observed among practices who experience large growth.


Show Notes:

Schwartz & Schwartz, P.C.

#65: How to Make Your Money Last Longer During Retirement

Mar 9, 2017 52:13


Saving is only one part of the retirement equation. Whether you’ve already reached the end of your career, or are still in accumulation phase, you’ll need to know how to spend down assets in the right order to get the most out of your nest egg. In this episode of Dentist Money™, Reese & Ryan talk about which accounts to pull from in the early years of retirement, how to keep your tax rate down, distribution requirements on your 401(k), and how assets like your house and practice can be utilized to lengthen the life of your other accounts.


Show notes:
Survey link:

#64: How Successful Dentists Track Financial Progress

Mar 2, 2017 52:21


Do you know your net worth? Not just an estimate, but the actual amount? And do you know what it was last quarter? What about your personal spending? How much of your income is used to support your lifestyle every month? Unless you know the answers, your path to successful retirement will be left up to chance. In this episode of Dentist Money™, Reese and Ryan provide solutions for tracking the most important indicators of financial health. They also give instructions for participating in a short benchmark survey so you can compare your own performance to hundreds of other dentists. Click here to take the survey.


Show notes:
Survey link:

#63: Three Misconceptions About Estate Planning

Feb 23, 2017 51:55


When is it time to get an estate plan? Or, if you already have one, how often should it be reviewed? And how do the requirements of an estate plan differ if you’re a dentist? Wills, trusts, tax planning, asset protection—not  the most exciting topics to bring up at family dinner. But the same people who join you at the table will be glad you planned ahead and kept them from having to track down all your assets. In this episode of Dentist Money™, Reese welcomes estate planning attorney, Andrew Howell, who explains why there’s more to estate planning than most people think. He describes what happens if you die without an estate plan, three common fallacies about estate planning, and how a properly structured estate plan will protect your wealth while you’re still living.

Show notes:

#62: The People Who Ruin a Dentist’s Retirement

Feb 16, 2017 54:56


Did you hear about the dentist who lost his shorts in a scam? No? That’s because nobody likes to tell the world they got hosed by a con artist. But it happens—a lot. And unless you know the warning signs, you might get wrangled into the same type of deal and put your retirement on the line. In this episode of Dentist Money™, Reese and Ryan respond to a special request from a loyal listener who asked for stories of dentists who fell victim to bad advice from people they should have never trusted. They also share the warning signs to watch for so you can avoid making the same mistakes.

#61: The Hidden Costs that Delay a Dentist’s Retirement

Feb 9, 2017 47:50


A few hundred here, a few thousand there. Overspending on insurance, loans, supplies, staff, benefits, and personal life may seem insignificant in the short run—a lot of dentists make enough money to cover the cost. But over the course of a career, those costs can add up to millions and downgrade the quality of what should’ve been a great retirement. In this episode of Dentist Money™, Reese and Ryan list the most common places where dentists overspend and how to make sure your hard earned money stays in your pocket.

#60: The Truth About Real Estate Ownership

Feb 2, 2017 48:42


Real estate can be an excellent investment. But many dentists delay their retirement by doing the wrong deal at the wrong time. What are the biggest mistakes that dentists make with real estate? In this episode of Dentist Money™, Reese & Ryan give five examples of real estate deals that often turn good investments into massive setbacks. They also provide a list of questions to ask before purchasing your next home, practice space, or investment property.

#59: Is Now the Time to Refinance Your Loans?

Jan 25, 2017 39:58


Student loans, practice loans, real estate loans. Dentists and debt go together like presidential elections and economic uncertainty. With speculation of rising interest rates, many are wondering if now is the right time to borrow money or refinance existing loans. In this episode of Dentist Money™, Reese welcomes Wells Fargo practice finance expert, Kent Murphy, who lists a number of factors to consider when shopping the lender market. He explains how low interest rates often lure people into bad loans and shares common factors dentists overlook before signing on the dotted line.


Show notes:

#58: When is it Time to Hire a Financial Advisor?

Jan 19, 2017 01:01:46


How do you know when it’s time to hire a financial advisor? For a lot of dentists there’s a trigger that goes off ― a shortage of cash, an investment gone bad, stagnant collections ― and they wonder if it’s time to call for help. But it’s not always clear what’s causing your pain or which professional has the right prescription. In this episode of Dentist Money™, Reese & Ryan explain when it makes sense to hire a financial advisor, and when it makes sense to look elsewhere for solutions.

#57: Is Your Permanent Life Insurance Policy Killing Your Retirement?

Jan 12, 2017 51:53


There are two types of people in the world: those who have heard a sales pitch about permanent life insurance, and those who will hear a sales pitch about permanent life insurance. And the way these policies are sold ― on the premise of guaranteed returns and tax-free withdrawals ― often give investors a false sense of security. In this episode of Dentist Money™, Reese & Ryan walk through the stages of grieving that usually follow the purchase of permanent life. They also talk about the rare exceptions for justifying insurance as an investment, and how to unwind a bad policy if you already have one.

#56: What You Need to Know About Bonds. Your Bonds.

Jan 5, 2017 42:04


Do you know the difference between a stock and a bond? Maybe you do. But even if you grasp the concept of fixed income versus equity, you may not realize how complex the bond market is. In this episode of Dentist Money™, Reese & Ryan describe the different types of bonds you can own, the risk levels associated with each, and how bonds can be used to lower your taxes. (And they make it through the entire show without telling a single James Bond joke).

#55: Six Keys to Powerful Investment Portfolios

Dec 28, 2016 44:30


Have you ever looked at your investment statements and wondered if your returns are as good as they could be? You’ve been told cheap index funds are the most responsible way to invest, but is it really that simple? What other funds can you buy? In this episode of Dentist Money™, Reese & Ryan list six factors to consider when building your investment portfolio. They discuss tradeoffs between active and passive investing, why some index funds underperform, and how to build a portfolio with the right mix of assets.

#54: Fixing Your 401(k) the Matt Bradley Way

Dec 22, 2016 32:17


If your office has a qualified retirement plan like a 401(k), chances are you’re paying fees you didn’t know existed and taking on liability you didn’t know you had. Matt Bradley and his company BenefitGuard help dentists fix their 401(k)s by lowering costs and offloading risk associated with compliance. In this Dentist Money™ interview, Matt explains where the fees are hiding, how to evaluate your existing plan, and the most common reasons employers get sued for mismanagement. He also lists the people you should have on your 401(k) team.

Show notes:

#53: Everything You Need to Know About Retirement Plans

Dec 15, 2016 58:07


IRA? 401(k)? Profit sharing plan? Pension? Mosts dentists know that choosing the right plan will put them on a faster track to retirement. But deciding which plan is best isn’t always straightforward. In this episode of Dentist Money™, Reese & Ryan discuss the most important factors to consider when choosing a retirement plan for you and your employees. They also describe how TPAs, advisors, fiduciaries, and custodians can help you optimize your plan and protect you from compliance violations.

#52: Lisa Knowles Presents Dentistry’s Broadway Show

Dec 8, 2016 33:46


Lisa Knowles opened her dental practice in 2005… two years before the recession... in Michigan. With economic conditions stacked against her, she built a thriving practice on a model of “making things right for patients no matter what.” Driven by her passion for communication and coaching, Dr. Knowles started Intentional Dental to help other dentists grow referral pipelines using a more mindful approach to patient interaction. In this Dentist Money™ Show interview, she cites five keys to successful dentistry, offers guidance for living in the moment, and compares a dental office to a Broadway show.


Show notes:

#51: Mike Abernathy on Building Wealth as Big as Texas

Dec 1, 2016 38:40


Dr. Mike Abernathy, founder of Summit Practice Solutions, joins the Dentist Money™ Show from his ranch outside of Dallas where he reflects on the most valuable lessons he’s learned as a practice owner and consultant. Mike’s approach to business management and personal finance allowed him to retire ahead of schedule and become a mentor for dentists all over the United States. In this interview, he talks about the one statistic to watch in your practice, what it means to embrace consumerism, and the pitfalls that keep dentists from reaching financial freedom.


Show notes:

#50: Collin Kartchner on How to Win Patients with Video

Nov 24, 2016 29:16


Remember the personal bio you wrote for your practice website? You probably started with a paragraph about where you grew up, the schools you attended, and your involvement with dental associations. Then you added a couple lines about your family and personal hobbies, and emailed it over to your web designer. Now it sits on your website like a relic etched in stone. And in today’s content-charged world, it will never be enough to drive traffic to your business. That’s where video comes in — not just video, but great video. In this Dentist Money™ interview, Collin Kartchner of Tooth Media explains why dentists need to engage patients with better video content. He also describes the difference between videos that get results and those that harm reputations.


Show notes:

Article about video performance versus text content:

#49: Morgan Hamon’s Tax-Reducing Battle Plan

Nov 17, 2016 48:07


Morgan Hamon lives dangerously. He started his career as a fighter pilot and then became a tax accountant. The fight against taxes is real, and Morgan’s firm, HDA Accounting Group, is the first line of defense for hundreds of dentists across the country. Because he works exclusively with dentists, Morgan has a deep understanding of tax issues faced by practice owners. In this Dentist Money™ interview, he answers the most common tax questions asked by dentists, explains the tax implications of owning a building, and specifies how much you should spend on staff and overhead to maintain sufficient profitability.


Show notes:

#48: How Dr. Mark Costes Balances Business & Personal Success

Nov 10, 2016 38:57


Dr. Mark Costes is founder of the Dental Success Institute, Horizon Schools of Dental Assisting, and author of Pillars of Dental Success. He runs multiple practices, speaks at dental forums around the world, and coaches over 50 practice owners to help maximize profits. In this Dentist Money™ interview, Dr. Costes talks about the bumps and bruises he’s experienced while acquiring multiple practices and expanding his entrepreneurial reach. He also offers a fresh take on work life balance, the truth about getting rich, and the personality traits that succeed in dentistry.


Show notes:

#47: Website 101 with Mike Pedersen

Nov 3, 2016 33:02


Is your website doing its job? Does it really drive new patients, or does it just sort of exist? Mike Pedersen, founder of The Dental Boost, helps hundreds of dentists showcase their practices with powerful websites that make it easy for visitors to find what they’re looking for. In this Dentist Money™ interview, Mike explains what it means to build your website with the user in mind, how to incorporate video content, and the best way to layout your homepage. He also describes the kinds of images you should never post on your website.


Show notes:

#46: Pat Rosenzweig on the People Who Make Your Practice

Oct 27, 2016 41:40


Perhaps nothing in dentistry is more important than surrounding yourself with the right people. It’s also one of the most difficult things to do. Hiring is never an exact science, firing is no picnic, and outsourcing can feel like a crapshoot. So how do you put together a winning team? In this Dentist Money™ interview, Pat Rosenzweig, co-owner of Mosaic Management Professionals, discusses the process of elevating your human capital. Drawing from her 30+ years in the industry, she explains the mindset you should cultivate within your staff, the value to place on technical versus people skills, and how to maximize each person’s contributions.


Show notes:

#45: Attorney Joseph McGregor’s Asset Protection Advice

Oct 20, 2016 31:14


When Joseph McGregor was a young attorney in Cleveland, his friends in the Case Western Dental program started asking for advice about practice buy-in agreements. The questions kept coming, and before he knew it, Joseph had a side job through which he met several players in the dental industry. His experience led him to open a dental-focused law firm in 2009. (His desire to make it big led him to Texas). In this Dentist Money™ interview, Joseph highlights two of the most costly mistakes made by dentists during transition. He also offers a word of caution about the employee handbook that’s been gathering dust at the bottom of your file drawer.

#44: Chris Tayler on Improving Profits with Better Fee Schedules

Oct 13, 2016 30:28


While working with his endodontist father, Chris Tayler became all too familiar with the inequities imposed by insurance companies on dentists. Seeing an opportunity to help other practice owners, Chris put his MBA and finance background to work and started a company called Cobalt Analytics, which specializes in optimizing insurance plans for dentists. In this episode of Dentist Money™, Chris explains the right way to factor insurance write-offs into profitability and how to make sure you’re getting the best rates.

Show notes:

#43: Gary Takacs Gives Six Keys to Practice Success

Oct 5, 2016 43:59


Consultant, coach, practice owner, professor, founder of the Thriving Dentist Show, internationally-acclaimed speaker. Dentists around the globe refer to Gary Takacs by a number titles. We simply call him The Legend. Having worked with over 2,200 practices, perhaps no one is better qualified than Gary to motivate and mentor dentists at every career stage. In this Dentist Money™ interview, he shares a collection of stories and experiences to illustrate how the most successful dentists thrive.


Show notes:

Thriving Dentist Show with Gary Takacs:

#42: How Jared Pope Became a 10 Practice Owner

Sep 29, 2016 40:07


Jared Pope opened his first practice shortly after graduating from dental school in 2002. Now, fourteen years later, he owns ten practices across Arizona and New Mexico. In this Dentist Money™ interview, Dr. Pope explains the partnership model that accelerated his expansion along with the advantages and challenges of running multiple practices. He also weighs in on the most important skills for young dentists to develop, overhead expense targets, and working with associates.

#41 Ben Tuinei Explains the Art of PPO Negotiation

Sep 22, 2016 43:40


Ben Tuinei, President of Veritas Dental Resources, has worked with over 6,000 dentists across the country to negotiate fair and reasonable reimbursements from insurance carriers. Using Ben’s 7 Steps of Negotiation, dentists gain leverage against providers to get the highest fee schedules available. In this Dentist Money™ interview, he explains what it means to build an insurance profile, how to overcome payment objections, the procedures most commonly downgraded by insurance companies, and the biggest mistakes dentists make during negotiation.


7 Steps to Negotiating Fees video:

#40: Jordon Comstock’s Recurring Revenue Solution

Sep 15, 2016 22:55


Jordon Comstock is founder of BoomCloud Apps, provider of in-house membership software for dental practices all over the country. Inspired by his deep knowledge of the dental industry, a passion for user interface design, and a book called The Automatic Customer, Jordon built a platform that allows practices to offer, manage, and track a variety of membership solutions for their patients. In this Dentist Money™ interview, Jordon explains how fee-for-service models can work alongside PPO plans to stabilize revenue, expand patient base, and improve retention.

#39: Dr. James Anderson’s Entrepreneurial Journey

Sep 7, 2016 31:47


Dr. James Anderson wasn’t wired to follow the traditional path of dentistry. Within a year of starting a practice, he hired his first associate and caught the entrepreneurial bug (or as he calls it, “A.D.D.”). Since then, he started nine successful practices, built one of the largest dental billing companies in the nation, and even opened an arcade. In this episode of Dentist Money™, Dr. Anderson recounts important lessons he’s learned about practice expansion, managing accounts receivable, and incentivizing staff.

#38: Nancy Kagan on Keeping Staff Accountable

Sep 1, 2016 19:21


If you enjoy the charming sound of a Boston accent and getting advice from one of the dental industry’s most experienced consultants, then you won’t want to miss this episode of Dentist Money™ with Nancy Kagan. Nancy was a hygienist for several years, then formed a temporary dental placement agency before managing two successful practices for over twenty-five years. In 2004, she founded Summit Dental Partners with a mission to make dental practices more efficient and successful. In this interview she talks about keeping your staff accountable, protecting yourself from embezzlement, and what it means to be an “ostrich.”

#37: Seth Dahle on Driving New Patients with Digital Media

Aug 25, 2016 23:53


Social media marketing is an essential part of driving growth for a practice, but a lot of dentists struggle to understand the evolving digital landscape and how to implement a solid online strategy. In this Dentist Money™ interview, Seth Dahle of My Social Practice offers his expert advice for boosting patient counts using social media and other digital channels. He explains ways to improve your online reputation, the most common digital mistakes made by dentists, and how the best dentists get the most out of marketing.

#36: Don & Dave Mantyla on Reducing Tax Liability

Aug 18, 2016 31:04


CPAs (and father-son tandem), Don & Dave Mantyla, talk all things taxes and explain the most common mistakes that put dentists at odds with Uncle Sam. They discuss the primary tax problems faced by dentists, the ramifications of making extra debt payments, when equipment write-offs make sense, and how some dentists get caught in a downward cycle of tax avoidance.

#35: Heather Colicchio’s Tips for Empowering Office Managers

Aug 11, 2016 23:13


Heather Colicchio is Founder & President of the American Association of Dental Office Managers — the largest association for dental business teams in the country. In this episode of Dentist Money™, Heather shares the philosophies behind her company’s mission to strengthen dental practices by maximizing the talents of office managers. She offers considerations to make when hiring an office manager, explains the types of training you should invest in, and gives advice for empowering office managers to lead successful practices.

#34: Richard Engar on Protecting Your Wealth from Malpractice

Aug 4, 2016 37:37


Reese interviews Dr. Richard Engar, former clinical dentist of ten years, and current CEO of Professional Insurance Exchange. Dr. Engar draws from decades of experience to explain how dentists can prevent unnecessary malpractice claims from putting their wealth and reputations at risk. He also offers advice for dealing with malpractice threats, describes the most common (and most expensive) types of claims, and highlights the one thing you should never do in the face of a malpractice settlement.

#33: Weston Lunsford on Numbers that Drive Practice Value

Jul 28, 2016 26:36


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.

#32: Randon Jensen’s Guide to Successful Transitions

Jul 21, 2016 27:41


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.

#31: Attorney Jason Wood’s Counsel for Dentists

Jul 14, 2016 37:51


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 the monetary implications of a DSO career path.

#30: Mike Alder on Managing Third Party Payors

Jul 7, 2016 28:39


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.

#29: What Brexit Means for Your Investment Portfolio

Jun 30, 2016 24:07


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 own portfolio against major downturns.

#28: Doug Carlsen Shares His Blueprint for Early Retirement

Jun 23, 2016 40:14


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.

#27: Howard Farran Shares His Formula for Success

Jun 16, 2016 29:49


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 by dentists and offers some words of advice for managing debt, improving profitability, working with consultants, and achieving work-life balance.

#26: 9 People Dentists Need to Know

Jun 9, 2016 30:37


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 of business and finance. In this episode of Dentist Money™, Reese & Ryan provide a list of the most important people a dentist should have on his/her advisory board.

#25: What You Need to Know About Whole Life Insurance

Jun 2, 2016 27:31


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 confidence.

#24: What You Should Know About Public Markets

May 26, 2016 25:17


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 of public markets and how they can work in your favor.

#23: The Truth About Gold

May 19, 2016 27:52


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 valuable nuggets of wisdom about investing in gold.

#22: Is Your Retirement Plan Built Like a Steinway Piano?

May 12, 2016 21:26


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.

#21: 3 Routines that Make Dentists Millions

May 4, 2016 21:24


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 take on a monthly basis to grow your net worth.

#20: 5 Habits of Wealthy Dentists

Apr 27, 2016 19:21


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 successful dentists.

#19: Will Your Personality Cost You a Better Retirement?

Apr 20, 2016 26:13


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™, Reese and Ryan explore nine personalities types common among dentists and discuss how to keep behavioral tendencies from compromising your retirement.

#18: How To Bullet Proof Yourself Against Litigation

Apr 14, 2016 20:53


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.

#17: How Much Money Should You Keep in Your Bank Account?

Apr 6, 2016 22:46


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 and the amount of cash you should keep in your bank account.

#16: The Mind Games You Play With Your Money

Mar 30, 2016 23:24


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.

#15: Five Reasons the Stock Market is Your Friend

Mar 23, 2016 21:05


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 markets.

#14: How Do Your Finances Compare to Other Dentists?

Mar 16, 2016 21:34


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.

#13: Is It Time to Hire Another Dentist?

Mar 9, 2016 21:57


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 before bringing on another producer.

#12: What Should You Look For in a Financial Advisor? (Part 2)

Mar 2, 2016 23:37


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.

#11: What Should You Look For in a Financial Advisor? (Part 1)

Feb 24, 2016 27:00


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 should expect - when hiring a potential financial advisor.

#10: Do You Have a Tax Strategy?

Feb 17, 2016 24:16


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.

#9: Did John Elway Pass on the Deal of a Lifetime?

Feb 10, 2016 19:46


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 when it’s okay to invest in high-risk opportunities, how to know when a private investment is right for you, and how private and public investments compare in the long run.

#8: The Profitability Killer

Feb 3, 2016 22:18


Are your collections going up while your bottom line stays the same? It’s frustrating to look at your impressive growth only to realize you’re no better off than you were a few years ago. But if you understand how to manage costs, you’ll have something to show for all that hard work. This episode of the Dentist Money Show™, recorded on location at the Yankee Dental Conference in Boston, covers the different kinds of practice costs and how to keep them under control.

#7: Why Debt Isn’t Always a Bad Four-Letter Word

Jan 27, 2016 33:12


Do you feel pressure to pay off your student loans, practice loans, building, or mortgage? A lot of dentists are conditioned to pay off debts as soon as possible. But when managed correctly, the right amount of debt can be used to build your wealth faster and help you retire better. In this episode of the Dentist Money Show™, Reese and Ryan explain how to pay down debt and save for retirement in a balanced way.

#6: The Best Defense Against a Market Crash

Jan 20, 2016 27:12


Are stock market declines keeping you up at night? Are you scared to turn on CNBC? How can your retirement fund endure another crash? In a tribute to David Bowie, Reese and Ryan discuss how to react when the market is Under Pressure and how to deal with all the Ch-ch-ch-changes.

#5: Why Your Practice is Like a Pencil

Jan 13, 2016 25:23


Does the idea of paying someone else to handle things like accounting, marketing, collections, and practice management put a bad taste in our mouth? After all, you’re smart enough to do it on your own without shelling out a bunch of cash. But is the Do-It-Yourself approach really saving your bottom line? In this episode of the Dentist Money Show, we discuss the most common reasons dentists decide against outsourcing, the difference between effective and useless outsourcing, and how to get the most out of your consultants and contractors. We also follow the incredible journey of a pencil from tree to Scantron.

#4: Getting More Out of Working Less

Jan 6, 2016 26:46


Have you mastered the art of balancing work and personal life? Or are you like most professionals who are leaning a little too far into the work side of things? In this episode of the Dentist Money show, we discuss why working more doesn’t always mean earning more, the importance of optimizing your time away from work, and how New Year’s resolutions became a thing.

#3: Running for Miss Universe and Other Once-In-A-Lifetime Opportunities

Dec 16, 2015 33:38


Are you thinking about jumping on a “once-in-a-lifetime” opportunity? Did that corner location you’ve been drooling over just go on the market? Do you have a chance to buy shares in a rising tech start-up? In this episode, we discuss the allure of certain investments, and the questions you need to ask before putting your money on the line.

#2: Are You Falling for Investment Myths?

Dec 8, 2015 30:29


Are you smart enough to beat the market? How do your odds in the stock market stack up against your odds in Vegas? Should your investment strategy change as you acquire more wealth? In this episode, we address the most common misconceptions about investing and how to avoid the traps that leave your future up to chance.

#1: Are You Spending Like a Competitive Eater?

Nov 30, 2015 25:24


Do you know exactly how much you spend? How much does it vary over the course of a year? Why do you need to know with so much precision? Which expenses should you be tracking and not tracking? This episode explores how hot dogs, pizza, and root beer can help you prepare for a more comfortable retirement.