The Dentist Money Show | Financial Planning & Wealth Management

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.