The Dentist Money Show | Financial Planning & Wealth Management

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'.

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.

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.

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.

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?

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.

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).

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.

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

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.