The Dentist Money™ Show show

The Dentist Money™ Show

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

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Podcasts:

 #127: What You Need to Know Before You Expand Your Practice | File Type: audio/mpeg | Duration: 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 | File Type: audio/mpeg | Duration: 46:38

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 | File Type: audio/mpeg | Duration: 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 | File Type: audio/mpeg | Duration: 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? | File Type: audio/mpeg | Duration: 39:57

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. 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? | File Type: audio/mpeg | Duration: 55:34

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 | File Type: audio/mpeg | Duration: 38:25

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 | File Type: audio/mpeg | Duration: 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? | File Type: audio/mpeg | Duration: 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 | File Type: audio/mpeg | Duration: 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 | File Type: audio/mpeg | Duration: 25:14

In this episode of Dentist Money™ 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? | File Type: audio/mpeg | Duration: 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? | File Type: audio/mpeg | Duration: 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 | File Type: audio/mpeg | Duration: 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 | File Type: audio/mpeg | Duration: 33:34

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.

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