The Dentist Money Show | Financial Planning & Wealth Management

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.

On this episode of the Dentist Money™ Show, Ryan interviews Brian Hanks, author, podcast host, and buyer advocate for dentists looking to purchase a practice. Buying a practice is a life-altering decision—and it's one you need to get right. Ryan and Brian discuss the five things that banks want to see before they'll lend. Plus, Brian throws in a secret ingredient that can give you the midas touch when finding and buying the right practice for you.

James Taylor, Clark Griswald, and Lady Luck all get a mention in this episode of the Dentist Money™ Show—although (as you might guess) the lady wins most of the attention. Having the stars align, finding your pot-o-gold, or just plain luck can play a role in people's lives … and in their finances too. If you've wondered why—or maybe what it takes to increase your own lucky odds—Reese and Ryan take a keen look at karma when it comes to investing.

On a Halloween edition of the Dentist Money™ Show, Reese and Ryan talk about some of the spooky things about finances that tend to scare people—things that might not actually be all that frightening. Then they turn their attention to the things that should really unnerve them. If you're worried about debt, down markets, and recessions, your concerns would be better placed by worrying about low profitability, fraud, and losing money through speculation. Listen in as Reese and Ryan explain why.

A recent trip has Ryan pondering hurricanes, wild chicken, and how he spent his vacation money. And, on this episode of the Dentist Money™ Show, he and Reese talk about why, once people get used to spending, they just can't seem to cut back. Controlling your spending may be the least sexy part of financial planning, but Reese and Ryan have the secret sauce to help you increase your net worth without pinching pennies.

On this episode of the Dentist Money™ Show, Reese interviews Morgan Hamon, partner with HDA Accounting Group, a dental-specific CPA firm. A new tax law was passed in 2018. Do you know how it affects your tax liability or your practice? The new tax code did sweeten some things for you, and Reese and Morgan discuss entity structures and other ways you can chip away at your tax liability under the new law.

On this episode of the Dentist Money™ Show, Reese and Ryan discuss the real role of a "financial advisor." To achieve financial health while growing your net worth, a specific set of planning items need to be completed. Today, with so many people selling financial products for a commission, the term "financial planning" can seem confusing. Reese and Ryan talk about the many jobs to be done by an advisor who is really concerned about your overall financial health.

On the 200th episode of the Dentist Money™ Show, Reese and Ryan take a quick look at where we've been, and then take a long look forward. And some of their prognostications may startle you. How will the large number of women entering dentistry change the industry? What's the future for practice ownership? Will DSO's continue to grow at their current rate? Get the answers to these questions and much more.

Colin Carr, founder of CARR, is Reese's guest on this episode of the Dentist Money™ Show. Colin describes the "aha" moment when he knew good representation was needed to protect dentists from getting taken advantage of in real estate deals. Plus you'll find out what to look for when buying office space, when leasing might be the best option, how to keep the upper hand when dealing with landlords, and a whole lot more.

On this episode of the Dentist Money™ Show, Reese and Ryan discuss how your perception of success might be a little misguided. Do you wonder if the size and scale of your practice are big enough? While the stress and pressure you may be feeling are real, it might be time to step back, take a deep breath, and see the bigger picture. Learn how you can start making your own grass look greener in this thought-provoking episode.

In an episode that could be described as "everything you wanted to know about the current state of social media," Ryan interviews Blake McClellan, CEO of Implant Compare and ringleader of the Dental Influencers Alliance. Blake explains how the future of social media is changing. It's getting more human and offering every dentist a way to tell their brand story and be heard. He also offers ways for you to reach out and influence your audience to drive more business.

Taxes annoy dentists. They bother most people, but they really seem to irritate dentists. On this episode of the Dentist Money™ Show, Reese and Ryan explain why you may need to rethink your approach if your contempt for taxes affects the way you invest. The kids are back in school, and it's a great time to get back to the basics of tax planning before the end of the year creeps up on you.

How often do you examine some of the important things in your life—your physical health, oral health ... financial health? On this episode of the Dentist Money™ Show Reese and Ryan discuss the calendar of financial treatments called Elements® that Dentist Advisors uses to perform financial checkups for dentists on a recurring schedule. It's a habit—brushing and flossing daily, seeing the dentist twice a year. It wasn't always that way. To create better financial health, is it time for you to establish a similar financial routine?

What happens when two dental industry financial gurus get together to chat? Find out on this episode of the Dentist Money™ Show as Reese interviews Sunny Pahouja, full-time dentist and founder and moderator of the popular Dental Investment Group on Facebook. Reese and Sunny take on a variety of topics from market volatility to how to avoid scams and finally to how to navigate the world of financial advisors. There's sure to be a nugget of wisdom for all investors from novice to expert.

The markets are (once again) a bit jumpy. What to do, what to do? On this episode of the Dentist Money™ Show, Reese and Ryan get into the meat and potatoes (well steak and sweet potatoes) of what's going on as they discuss the three staples of smart investing. Using examples of perilous economic events from the past 20 years, they offer advice on how you should react to today's negative headlines. It's current, and definitely an episode you'll want to tune into.

It's been a while since the last Q&A episode of the Dentist Money™ Show and there's a lot on our listener's minds. You'll get the scoop on how much typical dentists really earn. Plus, you'll want to hear the lively discussion between Reese and Ryan on when it's time to move from a Simple IRA to a 401(k). And there's even more, like "What does it really mean to invest back in your practice?" in this information-packed episode of the Dentist Money™ Show.

On this episode of the Dentist Money™ Show, Reese interviews Brent Andrewsen, estate planning expert at the Kirton McConkie law firm. As a practice owner with a growing net worth, you're probably aware that you should do some basic estate planning. Reese and Brent discuss why that should start early in your career. Where do your assets go, or who will raise your kids should something unexpected happen? Listen in as Reese and Brent deliver advice your family needs you to hear.

A once-in-a-lifetime trip to Mongolia provides the backdrop for this episode of the Dentist Money™ Show as Reese shares his recent experience. He and Ryan talk about the relationship between work, family, and living a happy life. They compare happiness scores by country and discuss findings from an 80-year long Harvard study which identifies four common traits of happy people.

From the types of jobs available, to the way we pay for stuff, and our ability to buy anything online — the money paradigm has shifted dramatically in one short generation. On this episode of the Dentist Money™ Show, Reese and Ryan share ideas for teaching your kids money management skills in the new economy.

Ryan's guest on the Dentist Money™ Show is Weston Lunsford, founder of Dental Intelligence. Weston explains how measuring real-time data improves practice performance and reveals where additional revenue can often be found. Analytics are changing everything from manufacturing to healthcare to the sports you love. The real question is can they improve your practice? Find out as Weston and Ryan discuss the ways predictive analytics are changing the dental industry.

Good financial planning requires careful thought around hundreds of jobs. On this episode of the Dentist Money™ Show, Reese and Ryan talk about which of those jobs can be accomplished by apps and/or computers, and which still require the human brain. As Dentist Advisors prepares to launch an app of its own, you'll be fascinated to hear about the multi-year development process and important insights gained through hundreds of user feedback sessions. You'll also learn where technology excels—and where it doesn't.

Is getting into that perfect home on your mind? On this episode of the Dentist Money™ Show, Reese and Ryan talk about why that's such a big decision—and why it can affect your effort to build the ideal practice. Mixing thoughts about a new home when you're focused on growing your practice can leave you in a serious quandary. Find out how doing things in the right order will result in greater personal net worth.

On this episode of the Dentist Money™ Show, Reese and Ryan take on a question that many dentists often ask themselves: "Am I putting my money in the right places?" When asset building, your money can only go into one of four places—liquid assets, retirement plans, practice growth, or real estate acquisition. Reese and Ryan offer some sage advice about how to prioritize one asset bucket over another as you grow your net worth.

On this episode of the Dentist Money™ Show, Reese and Ryan talk about why Ted Williams, the last baseball player to hit over .400, wouldn't be able to do it today. Increased access to information has changed baseball, and it has narrowed outcomes when it comes to stock market investment returns too. From baseball to communications to the stock market, everyone has access to more data than at any time in history. Find out why that's good news for diversified investors and bad news for stock pickers.

Reese's guest on the Dentist Money™ Show is Laura Hatch. Founder of Front Office Rocks, Laura has plenty of advice on how your staff can quickly improve the way they serve your clients. When the phone rings, or when patients come to your office, is your staff doing enough to keep them coming back? Better customer service will help your practice grow faster and Laura offers a few ideas on how your staff can become more focused.

On this episode of the Dentist Money™ Show, Reese and Ryan offer some food for thought (or at least offer some thoughts about food) as they talk about how focusing on calories and superfoods is comparable to growing net worth. With their current diets top of mind, listen in as Reese and Ryan offer some ideas about how eating patterns compare to the "Total Term" calculation and how it provides an effective measurement for growing net worth.

Reese's guest on the Dentist Money™ Show is Travis Hornsby, founder of StudentLoanPlanner.com. On this episode, you'll find out why your attitude towards debt may need some adjusting. From federal loans vs private loans to why interest rates alone shouldn't dictate your choices, Travis and Reese discuss numerous reasons why you need to think about student loans differently. It's a podcast for the dentist struggling to figure out how to best handle debt … and for the student currently piling up debt.

What's on the minds of Dentist Money™ Show listeners? Well, real estate for one. In this episode, Reese and Ryan explain the difference between the actual return investors get on real estate versus the return they think they're getting — and they'll show you how to calculate it correctly. Plus there's controversy about the actual retirement age of dentists. Find out what's causing the ruckus. Hear both sides of the argument and then decide how the often quoted retirement statistics apply to you.

Is the decision to buy a private practice as significant as the one you make to get married or have a child? According to Paul Goodman (the Dental Nacho), Reese's guest on this episode of Dentist Money™, buying a practice may have more influence on your overall life happiness than almost any decision you make in your lifetime. Listen in as Reese and Paul discuss how to make sure the odds for success are in your favor.

On this episode of the Dentist Money™ Show, Reese and Ryan look at some of their favorite video games and liken their dangers to the financial pitfalls you might face as your career unfolds. The complexity of your financial planning decisions builds as your income increases and your net worth expands. Reese and Ryan reveal how overcomplicating your finances during any stage of your career can slow down net worth growth. To learn how to navigate through the obstacles of personal finance and advance to the next level.

Reese's guest on the Dentist Money™ Show is Jordon Comstock, founder of BoomCloud Dental Membership Software. On this episode, you'll learn about the impact of in-house membership programs. While new clients and an additional revenue stream sound good, discover reasons why memberships may or may not be the right fit for you. In addition, Reese and Jordon discuss how adopting best practices from other industries can benefit your practice and lead to greater productivity and increased profits. To find out how you can tap into a new source of client revenue.

On this episode of the Dentist Money™ Show, Reese and Ryan examine why too many dentists concentrate on investments that pull them away from their core money-making machine: their practice. You paid a huge price for a dental degree and the opportunity to run a very lucrative business. But are you shortchanging your potential by letting your investment attention wander elsewhere? To learn why your practice holds the greatest possibility for net worth growth.

Ryan takes the mic on this Dentist Money™ podcast. His guest is David Harris, founder of Prosperident, a forensic investigation firm that specializes in investigating, and protecting dentists from, embezzlement. If you think embezzlement won't happen to you, statistics show it's highly likely to occur during your career. Ryan and David discuss what leads people to embezzle; they profile what a typical embezzler might look like, and they give you warning signs that might tip you off that something is awry.

Vanguard founder, John Bogle, is known for giving individual investors access to the market through low-cost index funds. The approach bypassed unnecessary management fees and allowed people to "buy the market" using diversified funds. To this day, John's following of "Bogleheads" remains energized by his philosophy and often steers other investors toward a self-directed path. And yet, recent Vanguard studies show how guidance from an investment advisor can lead to significantly better returns. So what's the right strategy for you? In this episode of Dentist Money™, Reese and Ryan discuss common misconceptions about Vanguard's position, when it makes sense to hire an advisor, and the type of advice worth paying for.

Today, Reese welcomes Dave Roehr to the Dentist Money™ podcast. Dave is CEO of Proceed Finance, a company that specializes in affordable financing for patients thinking about cosmetics or other large treatment cases. Many patients want or even need, high-cost procedures. With only an estimated 15% of people in the U.S. able to afford to pay in cash, Dave and Reese take a close look at what you can do to reach the other 85%.

War, terrorism, natural disasters, economic uncertainty. On this episode of the Dentist Money™ Show, Reese and Ryan discuss the type of news that drives ratings, and the impact it can have on our decision making. They discuss perception versus reality and use headlines from the past to illustrate how smart investors navigate through all the noise.

Reese's guest on this episode of Dentist Money™ is Elijah Desmond. Well-known for his Smiles at Sea CE Cruise conferences, Elijah talks about his entrepreneurial pursuits and offers a unique viewpoint on the many opportunities in dentistry. Having started eleven businesses and counting, he's not only good at implementing the strategy, but his hands-on career has made him an expert on how to make any practice click.