The Dentist Money Show | Financial Planning & Wealth Management

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.

Does the music you listen to influence your attitude towards money for good … or bad? What do Kurt Rambus, the Taxman, and Kenny Rogers all have in common? Count on Ryan and Matt to tie them together on a music-themed episode of the Dentist Money™ Show. There are lots of songs about money, but do any offer good financial advice? Is it "If I had a million dollars" or "Save that money" for you? Based on famous (and not so famous) songs, Ryan and Matt offer a few of their own money tips. Plus, a listener debuts his country song about debt—written just for Ryan.

On this episode of the Dentist Money™ Show, Ryan interviews Dr. Travis Campbell, practicing dentist, coach/consultant/speaker, on-line influencer, and author of The Practice Whisperer. In dental school you were told the pinnacle of a dentist's career is running a practice. Chances are you weren't taught how to do it. From his experience building a top 1% practice from scratch, Dr. Campbell offers advice on how to stay focused on clinical skills while avoiding typical practice pitfalls that can derail you from achieving success.

How much money do I even make?" That may be the number one question dentists ask their financial advisor. On this episode of the Dentist Money™ Show, Ryan and Matt examine why understanding dental income is so complex—and explain why knowing that number is so central to making good financial decisions. All financial tracking starts with income. You can't set firm goals or make action plans or strategies unless you know how much money is coming in.

On this episode of the Dentist Money™ Show, Ryan and Matt examine some of the things dentists tend to look at that distract them from seeing the retirement signals which really matter. Do you spend time worrying about short-term changes in the stock market? Are you fixated on figuring out how to open another location? Maybe you daydream about upping your income? When your long-term focus wavers, you may need to be reminded why slow and steady wins the retirement race. Register for CE Credit Here https://dentistadvisors.com/dms-ce-251

In this episode of the Dentist Money™ Show, Ryan and Matt discuss the reasons why getting dental-specific financial advice is preferable to getting financial advice from a generalist. Dentists are expertly trained clinicians who often carry the weight of running a small business and all that goes with it. That entrepreneur/professional combination often results in very unique financial challenges. If dentists are different, are there advantages to getting financial advice from someone who understands their issues?

On this episode of the Dentist Money™ Show, Reese and Ryan take a look at some of the stressful money issues that retirees come up against. You spend a career planning for retirement, but retirement itself can lead to some surprisingly difficult, and unforeseen, money issues. The decisions you face as a retiree—housing decisions, family issues, and how to handle your retirement portfolio—can all seem burdensome. Setting yourself up for a retirement with less stress starts years earlier with holistic financial planning.

On this episode of the Dentist Money™ Show, Ryan interviews Jordon Comstock of BoomCloud, a software company that helps practices create in-house dental membership programs. During the show, Ryan and Jordan discuss the numerous advantages in-office subscription programs offer. For patients, membership services can be easy to understand—they're already paying fees for different types of insurance or subscriptions for things like Amazon Prime. But many dentists remain hesitant. If you're one, this might be the education you need to finally get on board.

On this episode of the Dentist Money™ Show, Reese and Ryan answer two listener questions— "What is the right savings rate for me at this point in my career?" and "What should I do with a sudden windfall?" Whether it's through slow accumulation, or sudden good fortune, having the right strategy for putting money to work makes a big difference when trying to grow your net worth. As always, Reese and Ryan have ready guidance for you—along with advice on the role of cash in both scenarios.

On this episode of the Dentist Money™ Show, Ryan interviews Dr. Bruce B. Baird, former dentist and founder of The Productive Dentist Academy. If the first step in making smart financial decisions is practice profitability, then you need to understand all of your options for increasing collections. Dentists have been trained to use third-party financing, but there are also other financing options worth your consideration. If you could increase your revenues and provide your patients with more choices when it comes to their oral care, would you do it?

On this episode of the Dentist Money™ Show, Reese and Ryan discuss how inflationary forces can lead to a declining dollar—something that's on a lot of people's minds right now. Inflation is a constant. So how do you make adjustments for it? What types of investments should you be looking for, especially during a monetary crisis like we're living through? National Tooth Fairy Day is around the corner and Reese and Ryan use tooth fairy inflation as an analogy for how to think about the dollar.

On this episode of the Dentist Money™ Show, Ryan does a follow-up interview with Kiera Dent of The Dental A-Team. As a popular dental team coach, Kiera has her finger on the pulse of offices across the country and offers practical tips your team can follow to find success amid COVID uncertainty. In an often frank discussion, Ryan and Kiera look at both the good and the bad of coming back from COVID as they examine where you might find unexpected and innovative solutions.

On this episode of the Dentist Money™ Show, Reese and Ryan dissect the pros and cons of budgeting and spending. It may not sound fun, but when it comes to holistic financial planning, talking about where spending fits is not a conversation you should ever avoid. Your attitudes about spending will change as you progress through your career. Whether you're a penny-pinching student or a top earner, every lifestyle step, every movement towards a more enjoyable life still requires that you check your limits.

On this episode of the Dentist Money™ Show, Reese and Ryan take a close look at how comparing your financial performance to a standard can help you gain greater financial strength. In fact, our Elements® program was built on performance comparisons. That said, benchmarks can be misused and counterproductive when viewed out of context. Learn how to closely measure your financial progress in specific areas to develop better habits, and how to make benchmarks more valuable by including someone else to hold you accountable to them.

On this episode of the Dentist Money™ Show, Ryan interviews Travis Hornsby of Student Loan Planner, experts at helping dentists and other professionals figure out what to do with their large loan debt. In a wide-ranging interview, Ryan and Travis cover the CARES Act pausing of federal loan payments and how long that might last; what the future may hold for student loan debt; why a tiered approach to your debt might make a lot of sense for you; and a whole lot more.

On this episode of the Dentist Money™ Show Ryan and his webinar partner, Matt Mulcock, discuss the fundamentals of debt. As a dentist, your mindset about debt has to be different. The high income you can achieve requires debt—student loans, equipment, and the possibility of purchasing a practice or practice location. That means debt is a greater reality for you. But are your attitudes about debt still old-school? Or, do you know how to use debt as one of your greatest tools?

Because it's quite possibly the most emotional asset one can own, a discussion on real estate seems to always draw a crowd. So gather round this episode of the Dentist Money™ Show and hear what Reese and Ryan have to say about the pros and cons of residential, rental, and office space real estate. Real estate investments work for some people, but they're a hassle for others. Reese and Ryan offer their advice on what type of person can make a real estate deal work in their favor—and who should probably steer clear.

On this episode of the Dentist Money™ Show, Ryan interviews Will Gochnour, a member of our Dentist Advisors advisory team. It's a behind-the-curtain look at what our associates go through as they prepare to take on the role of Financial Advisor. Data collection is at the heart of our holistic financial planning philosophy and provides the foundation for good financial decisions. Will describes how gathering data for hundreds of financial plans, and then seeing how we use that data to support our advice, prepared him for his current role.

Investors are tense, the public seems restless. Where can you find financial calm when everything seems so unstable? On this episode of the Dentist Money™ Show, Reese and Ryan attempt to alleviate your anxiety. Feeling stress during times of volatility is normal, but if your portfolio has been carefully constructed to fit your personality and long-term goals, you can be confident when others have the stock market jitters.

On this episode of the Dentist Money™ Show, Ryan interviews Minal Sampat, a dental industry marketing guru and the best-selling author of "Why Your Marketing is Killing Your Business." There are many options for how to market your practice. How do you know what's the right approach for you? In this high-energy interview, Minal reveals her formula for how you can actually minimize costs while maximizing the "new client return" on your current marketing program.

On this episode of the Dentist Money™ Show, Reese and Ryan discuss two listener questions about the future of the stock market. Changing market conditions have many people wondering if they should rethink what's included in their investment portfolios. Is a concentrated portfolio of stocks that have been beaten up—like travel, hospitality, energy—the right spot for your hard earned dollars? Or, should you just stick to a globally diversified portfolio? Reese and Ryan offer their guidance backed by some fascinating details and stories.

On this episode of the Dentist Money™ Show, Reese and Ryan look into what it takes to become financially independent. "When can I retire?" is a question financial planners are often asked. Some try to provide a simple answer, but there's a complexity to the question that deserves an in-depth examination. Although individual lifestyle and economic uncertainty affect any projections about financial independence, hear what you can do right now to ensure you're on the path to a comfortable retirement.

On this episode of the Dentist Money™ Show, Reese and Ryan discuss the nuts and bolts of the most common qualified retirement plans. Because of the different levels of dental and specialist practices (and with the varying amounts of income they can generate), deciding which qualified retirement plan is the right one for you can be a challenge? Reese and Ryan take the mystery out of your retirement plan options. After listening, you'll feel good about which plan you choose—and why it's the right fit for you.

On this episode of the Dentist Money™ Show, Reese and Ryan once again answer your questions. Decisions about finances, taxes, legal issues, insurance, and real estate all have a major effect on the trajectory of your net worth. Your finances are much more complex than many dentists think. Every transaction can have major implications with a bad decision costing you years of wealth accumulation. Who is asking the right questions for you? And, how much is their advice really worth?

On this Dentist Money™ Show, Reese and Ryan take a quick look back … and a long look ahead as they discuss the effects of COVID on the stock market, on the dental community, and on themselves. Will a new mindset about money affect your decisions as an investor? Sharing their personal observations, Reese and Ryan explain why seeing stocks through a COVID looking-glass may affect your attitude towards financial assets.

On this episode of the Dentist Money™ Show, Ryan interviews a 20-year veteran of the home loan industry, Tim Peterson of Cornerstone Home Lending. Federal stimulates have resulted in low, low interest rates causing some to wonder if now is a good time to refinance? And media coverage about forbearance has others wondering if that's the right strategy during unusually tight times? Listen as Ryan and Tim take on the difficulties and surprising positives of today's lending market.

On this Dentist Money™ Show, Reese and Ryan examine virtually every insurance policy a dentist might need. As a dentist, you have to manage business risks, as well as think about how to preserve your income in case of something unexpected. You may want to ignore it, but insurance can't be neglected. On this podcast, Reese and Ryan share their ideas about how to get the greatest efficiency out of the premiums you pay for your practice and income protection insurance needs.

On this episode of The Dentist Money™ Show, Reese and Ryan take a look at the real reasons people end up hoarding during panics. Or more to their point, when markets are diving and your net worth is shrinking, how can you stifle the impulse to push your own panic button? We all have irrationally strong preferences for things we can control with certainty. Reese and Ryan have some ideas on how to keep your cool when the heat is on.

On this episode of the Dentist Money™ Show, Ryan interviews BJ Sorensen, Senior Manager of Marketing Strategy and Research at Ultradent. While we may have a front-row seat to the economic effects of COVID-19, BJ's job is to understand how current trends might alter the future. What will be the behavioral impact on dentists? Where is practice ownership headed? What jobs will today's dental students find? BJ and Ryan offer their answers to these questions and many more.

On this episode of the Dentist Money™ Show, Ryan interviews Kiera Dent of The Dental A-Team. A well-known dental practice coach, Kiera has numerous ideas for what you can do today to make your practice better tomorrow. Get to know The A-Team's four buckets for dental practice success as Kiera takes Ryan through her extensive list of things you could be working on. "This is your time for a mindset reset," claims Kiera. Find out what you can do to improve your practice today.

For an April Fools Day episode of the Dentist Money™ Show, Reese and Ryan take a close look at financial mistakes that can make you feel like a money management moron. It's been said, "Wise men learn by other men's mistakes. Fools by their own." On this show, Reese and Ryan share examples of money miscues you can avoid. Learn from the mistakes of others and then follow these tips so you can keep your net worth growing.

On this episode of the Dentist Money™ Show, Ryan interviews Dr. Brian Harris, the founder of Smile Virtual, a leader in virtual consultations. Have you considered that the mindset you take during this economic pause may result in how well your practice does when it's back to business as usual? From the tricks he's learned about video consults to tips on getting more involved in social media, Brian offers ways to still be productive during unusual times.

The effect of COVID-19 on the economy has resulted in a major market downturn. On this episode of the Dentist Money™ Show, Reese and Ryan provide answers to the financial concerns they've been hearing from clients and others. It's a pragmatic look at current issues as Reese and Ryan offer advice about where we are—and where leading economic forecasters say we're most likely headed. Hear why staying calm and rational as you're faced with major decisions is the right path.

It's a Dentist Money™ Show first as Ryan interviews Matt Mulcock, one of our own advisors. Ryan asks Matt what it was like to work at a large money-management firm. It's a one-of-a-kind episode as Matt compares the differences between Dentist Advisors' holistic financial planning approach with firms that mix product sales with financial advice. You'll get to know more about Matt—and you'll hear why he jumped at the chance to work for Dentist Advisors.

On this episode of the Dentist Money™ Show, Ryan interviews Matt Hironaka of Unitas PPO Solutions. Do you need help evaluating your PPO participation? Are you involved with PPOs and want to improve reimbursements? Or are you wondering if you can negotiate higher fee rates? Matt answers those questions and many more as he and Ryan discuss PPOs in depth. Frustrated with your PPO relationships (like so many dentists)? Matt has some reliable tips to help you smooth out those disappointing PPO bumps.

What do DSOs, Dave Ramsey, and financial stress have in common? The last Q&A episode of the Dentist Money™ Show was several months ago. Since then the pile of good questions has grown, and we've picked a couple interesting winners. "How do you deal with management issues that are part of working in a big DSO? Should you just work for yourself instead of enduring the hassle?" How about, "Is stress a requirement for financial growth?" Plus, Reese and Ryan deconstruct why Dave Ramsey's "Baby Steps" don't all work for dentists.

On this episode of the Dentist Money™ Show, Reese and Ryan put Savings Rate (Sr) under the Elements® microscope. And they dive deep into the many reasons why it's so closely tied to both your debt and your ability to invest throughout your career. Savings Rate is the key indicator of whether you're moving your own net worth needle forward, and Reese and Ryan clarify why that's true. Plus, they have a few tricks that can help you start accumulating more savings faster.

On this episode of the Dentist Money™ Show, Reese interviews Dr. Brian Anderson, founder of the 5,500+ member Facebook group, Orthodontic Pearls. Brian is a popular speaker known for the sincerity he brings to his message of finding positive purpose in your work. In talking with Reese, he shares how energizing your involvement and fully enjoying how your contributions help people live better can change the way you approach your work. In this show, get into the "flow" with Dr. Brian Anderson.

On this episode of the Dentist Money™ Show, Reese and Ryan answer the question: "As I'm choosing a partner, what would you recommend that would be different from running a solo practice?" Not a question with a quick or easy answer … but a question many dentists ask during their careers. Partnerships can change financial implications, decision-making dynamics, productivity, work schedule, and staffing requirements. Reese and Ryan take an in-depth look at all the related challenges and benefits.

On this episode of the Dentist Money™ Show, Reese interviews Jayme Amos, founder of Ideal Practices, a leader in helping dentists create successful startup practices. Jayme reveals how his own business found an altruistic vision that added greater personal purpose to his work, and created a more unified office culture. You set the bar for office culture, but also how you're going to serve your community. It's a responsibility that can actually help create a better world … and workplace.

On this episode of the Dentist Money™ Show, Ryan interviews well-known lecturer Dr. Chris Salierno, chief editor of Dental Economics. Their wide-ranging discussion covers topics from how to publish content to how to control your overhead to why Chris thinks it's a must to know your "gross profit margins." As an editor of a leading industry publication, Chris has his finger on dentistry's pulse. You'll want to get his take on cost-effective ways to build your practice.

On a recent podcast, Reese and Ryan offered Dentist Money™ Show listeners nine good questions to ask financial advisors. Many listeners then turned the tables and said, "OK guys, how about giving us your answers!" Don't miss this episode as Reese and Ryan answer questions about their investment philosophy; about their investment allocation strategies; about why they put a focus on dentists. Plus, they explain the Dentist Advisors fee model structure and all of the services that are included with it.

On this episode of the Dentist Money™ Show, Ryan interviews Michael Anderson and Laura Maly of the Wonderist Agency, a full-service dental marketing agency. Does SEO still work? Is Facebook the place for me? Is direct mail the best channel to market my practice? These are typical questions that seem to concern most dentists. In this timely interview, Michael and Laura explain why finding an authentic message about what makes your practice different should always be the first step in evangelizing your business.

"What are your returns?" It's one of the first questions most people looking for a financial advisor ask. But is it the right question? In this episode of the Dentist Money™ Show, Reese and Ryan talk about what other questions may prove more insightful. The role of today's financial advisor is more about pairing strategies with your goals and matching the proper risk to the time frame needed for that investment.

Is there a correlation between personal financial security and charitable giving? Reese and Ryan reflect on the gifts the giver receives on this Christmas Day episode of the Dentist Money™ Show. The dental community has an impressive record of giving both of their time and money to charitable causes. What drives that desire to give back? And what, if anything, do the givers also receive in return for their gifts?

In this episode of the Dentist Money™ Show, Reese and Ryan discuss both the differences and the similarities between mutual funds, index funds, and ETFs (Exchange Traded Funds). Find out why choosing the right funds for your portfolio doesn't have to be an either/or decision. All of these funds are actually collections of stocks with some differences like expense ratios, tax structure, and volatility. But all three may have a place in your investment strategy.

In this episode of the Dentist Money™ Show, Reese and Ryan discuss how to establish processes that can ensure you finish all of the financial planning jobs you need to do. When it comes to holistic financial planning—debt, savings, insurance, estate planning, personal spending, income growth, practice equity, retirement accounts, real estate—you can't knowledge power your way to getting everything done.

Understanding how your personality affects your choices can be difficult. In this episode of the Dentist Money™ Show, Reese and Ryan talk about what you can do to make more rational decisions. If you feel like "what am I doing with my life?" you may not be taking enough risk. If you're burnt out or scared, you may be taking too much risk. Reese and Ryan have some ideas to help you think, "Ahhh, this is just right!" when it comes to making important decisions.

Trying to create an exceptional team—one with positive energy and enthusiasm? On this episode of the Dentist Money™ Show, Reese and Ryan discuss typical organizational dysfunctions that may be keeping your employees from working together as a unit. Can the well-oiled office of your dreams actually become reality? Reese and Ryan introduce five flaws that often sabotage teams that need to work closely together. And knowing the right solution for each flaw is a must for any organization.