The Dentist Money Show | Financial Planning & Wealth Management

It’s time for Reese to take the hot seat as we switch things up a bit for this episode of Dentist Money™. Dr. Russell Kirk takes the lead and interviews Reese for The Business of Dentistry podcast. Enjoy a different point-of-view as Dr. Kirk asks the questions and Reese offers his advice. And Reese has plenty to share with ideas on how a well-planned financial strategy can make a huge difference to both your practice and your preparation for retirement.

Do you remember completing a risk assessment the last time you set up an investment account? Did it really set your savings plan on the right trajectory, or did it simply cover your advisor’s butt in case you weren’t happy with the eventual returns? In this episode of Dentist Money™, Reese & Ryan talk about an Element called Equity Rate from our periodic table of financial indicators. They explain why traditional risk assessment tools fall short of measuring your investment needs, and how they miss the mark when it comes to creating the right balance of stocks and bonds in your portfolio.

Do wealthy people offer the best financial advice? What benefits should I offer my employees? Remodel my home or buy a new one – what’s the right choice? Reese and Ryan tackle these three questions on this Q&A episode of Dentist Money™. You’ll hear Ryan list four types of people Forbes says you should avoid taking advice from — it might surprise you. And you’ll find out what other group practices do when it comes to employee benefits. Plus, Reese has a lot to say about buying or remodeling as he recently went through that decision himself.

What path should you take to practice ownership – start-up or acquisition? For the past decade Jayme Amos has coached numerous dentists on how to achieve greater satisfaction from practicing dentistry. On this episode of the Dentist Money™ Show, Jayme shares with Reese how personality traits should be factored into business decisions. And he discusses the important differences between starting a practice from scratch, or purchasing an existing practice. As an expert on work/life integration, Jayme also has some suggestions on how you can build a practice that reflects your personal values.

By ignoring your office retirement plan, are you making a seven-figure mistake? On this Dentist Money™ Show, Reese and Ryan talk about qualified retirement plans and why a yearly review makes such a huge difference. You’ll hear why the cheapest 401(k) provider may not really be the least expensive. And, you’ll find out how to avoid getting surprised by employee plan fiduciary responsibilities and liabilities from falling on you, which occurs more often than you think.

It’s one of the biggest problems that keeps struggling practices from succeeding. On this episode of the Dentist Money™ Show, Patty Ricard, dental practice manager, consultant and life coach, addresses a common issue in office management, and shares her keys for your practice to reach peak performance. She talks with Reese about what methods you can use to build better patient and team loyalty – and why instituting just a few changes can lead to more profitability.

How will you create cash flow that requires minimal effort? On this Dentist Money™ Show, Reese and Ryan discuss something people love to daydream about – passive income. You’ll hear how real estate measures up to other passive income options and learn about the two main components of passive income. And you’ll find out what it means to harvest your assets correctly in order to make them last longer.

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.

Is there a “right way” to pay your family members through your business? When is it the right time to hire a financial advisor? Should I start a private practice? All three of these questions have something in common. They’re the topics discussed on this Q&A episode of Dentist Money™. 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.

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.