The Dentist Money™ Show

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. To find greater practice success, view your business through the eyes of an acclaimed entrepreneur.

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.

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! 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.

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.

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.

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.

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.

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.

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.

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.”

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.

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.

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.

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.

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.