The Dentist Money Show | Financial Planning & Wealth Management

Latest Episodes:

#156: 3 Critical Ingredients for Your Decision Making Recipe Dec 05, 2018

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Learn how to take your decision making beyond pros and cons. 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.

#155: What Dentists Want to Know — Listener Q&A #8 Nov 28, 2018

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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! With tax season around the corner, discover how to best utilize pre-tax savings accounts like 401(k)'s and IRAs vs after-tax options like Roth IRAs. 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.

#154: Reducing Year End Taxes Could Be as Easy as 1-7-9 Nov 21, 2018

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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. Get ready for some year-end planning ideas, and a conversation that should interest every dentist.

#153: What are the Hidden Costs of Timing the Market? Nov 14, 2018

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The actual cost of market timing could be higher than you're willing to pay. 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.

Are you ready to dive into the actual cost of market timing?

#152: The Top 10% of Dentists Have This in Common Nov 07, 2018

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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.

#151: How Fast Should Your Net Worth Grow? Oct 31, 2018

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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.

#150: How to Avoid Becoming a "Drive By" Dental Practice Oct 24, 2018

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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.

#149: Are Uninsured Patients the Key to Boosting Profitability? Oct 17, 2018

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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.

#148: What the Heck Does "Financial Planning" Even Mean? Oct 10, 2018

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You need financial advice, but how can you judge whether you're getting real value from your "advisor?" 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."

#147: Profitability Advice from a Dental-Specific CPA Oct 03, 2018

Show notes

When's the last time you gave your practice a financial x-ray? Would an expert accountant find any hidden problems? 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.

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