The Dentist Money Show | Financial Planning & Wealth Management

On this listener Q&A episode of the Dentist Money™ Show, Ryan and Matt answer a couple of common end-of-year retirement plan questions. And, after watching some U.S. markets reach all-time highs, are you wondering if it's still a good time to make a lump sum investment? "Backdoor" Roth IRA's can be effective, but there can be a few complications you should know about. Plus, when putting retirement funds into an extra entity you've set up, the IRS has some rules you definitely need to know.

On this episode of the Dentist Money™ Show, Ryan welcomes Rob Montgomery whose firm has specialized in legal counsel for dentists for over 20 years. Throughout your dental career you will probably sign associate agreements, leases, acquisition documents, and even sell your practice. Rob takes Ryan through many of the legal nuances you need to be aware of before you ever sign on the dotted line. "Caveat emptor" takes on even greater significance when you have so much at stake.

On this episode of the Dentist Money™ Show, Ryan & Matt have put together a year-end checklist of financial jobs you can't ignore. As the year draws to a close there is a lot going on, but Ryan & Matt are on top of things making sure you don't forget to complete important practice and personal end-of-year tax items. Here are 10 things that need to be done before December 31st—and a few items that can wait until you file your taxes.

On this episode of the Dentist Money™ Show, Reese and Ryan have a conversation about happiness, experiences, and possessions. How can you ensure all the moving pieces that make up your busy life actually enhance its quality? Your brain is constantly jumping from the present to distractions like your to-do list and other worries. While the purchase of things might bring short-term pleasure, Ryan and Reese explore why anticipation of an event excites the brain—making the experience more enjoyable and memorable.

Does it seem like good luck passes by your door without ever knocking? On this episode of the Dentist Money™ Show, recorded on a Friday the 13th, Ryan and Matt talk about typical mistakes that make dentists feel unlucky. You may be using bad luck as an excuse to cover up what are actually bad decisions. Ryan and Matt illustrate how changing your luck often requires that you change your approach when making decisions. Being more diligent with your investment strategy or more organized at your practice are two ways you can turn the table on a run of bad luck. Before you blame a lack of luck, hear what you can do to change your fortune

On a Q&A Thanksgiving episode of the Dentist Money™ Show, our listeners pitch in with a couple of good questions. The need for "ready cash" has recently been pushed to the forefront with the pandemic—and as a practice owner, you're sure to face a few more emergencies in your career. So knowing the right amount of money you should have in your emergency fund is top-of-mind for many dentists. When it comes to liquidity, Ryan and Matt provide their formula for how to measure the amount that's really needed for emergency funds. While a lump sum can sound good, how do you make sure there's enough money stashed away ... but not too much? The second question is from an older dentist who wants to know how long he should continue paying disability premiums as he gets closer to retirement.

The year 2020 has been no ordinary year. And you can expect with PPP, HHS, and EIDL loans and grants, taxes might not be ordinary when they come due. On this episode of the Dentist Money™ Show, Ryan interviews Morgan Hamon of the HDA Accounting Group. Are you wondering what pandemic federal support money might mean for your taxes? On this podcast, Ryan and Morgan discuss loan timelines, qualifying rules, reporting requirements, and IRS guidelines on the federal support you may have received. Plus, there's a write-off rule that might surprise you—and one you need to know! How Will COVID-Related Loans and Grants Affect Your Taxes?

On this episode of the Dentist Money™ Show, Ryan interviews Jayme Amos, founder of Ideal Practices. Have you wondered if you're cut out to start up a practice from scratch? Or maybe you're nervous about opening your own practice during uncertain times? On this show, Jayme shares stories about those who've taken the ownership plunge in 2020. You'll hear about lending trends, why associates are jumping into ownership from DSOs, and advantages to a startup you may have not considered.

An election, COVID, protests, uncertainty—on this episode of the Dentist Money™ Show, Ryan and Matt take a close look at the history of elections and the stock market as they forecast what will most likely happen as we move past this one. During your lifetime, your investing timeline will cover eight to twelve different presidencies. Since elections are something you should get used to, Ryan and Matt discuss the Dentist Advisors investment philosophy and why it works through different economic highs and woes.

On this listener Q&A episode of the Dentist Money™ Show, Ryan and Matt take a look at why rebalancing your investment portfolio is so important. Plus you'll hear about different strategies for dividing stocks and bonds among various brokerage and retirement accounts. When you build a portfolio four things are taken into consideration—the level of risk, geography, company size, and the price of the stock. Find out why Dentist Advisors regularly rebalances your portfolio to ensure it continues growing within your original criteria.