The Dentist Money Show | Financial Planning & Wealth Management

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.

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

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

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

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

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

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

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

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

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.