The Dentist Money Show | Financial Planning & Wealth Management

On this Dentist Money™ show, Reese and Ryan take time out to interview several well-known dental industry leaders at the Voices of Dentistry Summit. Experts from Kleer, Inspired Hygiene, Wonderist Agency, and others, chat with Reese and Ryan, and offer their unique points-of-view about the coming year. The interviews can be unexpectedly personal, and often truly powerful. It's a one-of-a-kind show full of little golden nuggets of wisdom.

On this episode of Dentist Money™ Reese and Ryan take a closer look at the dental industry and the growing opportunities within it. As the industry evolves, a diverse set of new jobs are becoming available. Reese and Ryan talk about why it's important to know exactly where your skills fit in today's marketplace. Should you grow your practice? Focus on lifestyle? Do something non-traditional? Here are a few things to consider as you make your optimal decision.

Reese's special guest on this episode of Dentist Money™ is Dr. Grace Yum. Recorded at the Voices of Dentistry Summit, this interview follows Dr. Yum's journey from hygienist to an owner of two lucrative practices in Chicago. She explains the strategy she took as an associate, and how it eventually prepared her to start two practices from the ground up. Plus, you'll enjoy hearing the philosophies that led to Dr. Yum's success and her ideas about practicing dentistry with a growing family.

What's on the mind of Dentist Money™ Show listeners? Well, with so many choices in dentistry, and so many young dentists wondering, Reese and Ryan weigh in on "favorite location" vs. "best opportunity." You'll also discover more about "momentum investing" and who uses it as an investment strategy. Plus, there's a good discussion on the effectiveness of bonuses vs. ownership for motivating employees.

Reese welcomes special guest Roy Shelburne on this episode of Dentist Money™. A popular conference presenter, Roy takes time from a busy schedule to tell his fascinating story. From spending 36 years building a successful practice to federal prison, it's a personal journey that will both frighten and inspire you. But most importantly, as dentistry compliance issues continue to increase, it will change the way you document your work.

Live from Phoenix, Arizona, it's Satur … the Dentist Money™ Show starring Reese Harper and Ryan Isaac! Enjoy this Dentist Money™ first — a full podcast recorded before a live audience. Using a few astute observations from comedian Steve Martin to theme the show, Reese and Ryan introduce a crowd of new listeners to the essentials of financial planning. Join in as Reese and Ryan get down to the nitty-gritty of why having a good financial plan is so important.

On this episode of Dentist Money™ Reese and Ryan get philosophical as they discuss a list of typical regrets people feel when they get older. No one wants to feel regrets, but somehow everyone ends up with at least one or two. With so many people experiencing disappointments tied to finances, Reese and Ryan offer their advice on why it's crucial to have a good savings plan in place as you prepare for your future.

On this episode of Dentist Money™ Reese and Ryan provide coaching to help you keep your emotions in check when there's turbulence in the markets. Creating wealth over the long haul takes patience and a solid focus on your overall goals. That's easier said than done. Reese shares how you should really look at stocks based on his ranching experience as a youth. It's an analogy that will change your perspective during fluctuating markets.

Reese's guest on this episode of Dentist Money™ is Dr. Richard Low, host of the Shared Practices Podcast. With two podcast hosts asking each other questions, Reese and Richard cover a wide range of topics—from target date funds vs mutual funds vs index funds, to selecting the right type of mortgage depending where you are in your career. It's two podcast hosts for the price of one!

What's on the mind of Dentist Money™ Show listeners? Well taxes for one—especially as another year just ended and filing is just around the corner. And you'll want to hear if the interest rate on your debt makes any difference between paying down loans or investing. Plus, you'll find out why creating passive income not exactly what you've learned—and why that matters as you invest.

Jason Wood is Reese's special guest on this Dentist Money™ Show. Jason's law firm, Wood & Delgado, specializes in helping dentists with a wide variety of dental-related legal issues. In this episode, Reese asks Jason to look into the future and project what the dental industry might look like in 10 to 20 years. Jason's vision may surprise you as current trends indicate major changes. Find out what can be done to fight the takeover of dentistry by large conglomerates. To take a peek into the future of dentistry with an industry expert:

On this episode of Dentist Money™ Reese and Ryan reveal what it takes to get on, and then stay on, your optimal path for wealth creation. There's one critical word that both Steve Jobs and Warren Buffett said will give you powerful decision-making confidence. In today's competitive climate, you need to know how to make pivotal career and investment decisions with clarity. To learn how successful entrepreneurs eliminate wealth-building distractions:

The "Controversial Opinion Alert" sign is up and flashing for Reese and Ryan's discussion on this episode of Dentist Money™. Everyone knows there's a place for life insurance in estate planning - but is there really a "secret sauce" that makes life insurance a more powerful choice to borrow against than other equity building assets? Clever marketing messages from the life insurance industry say there are. Tune in to hear what Reese and Ryan have to say. To find out which one of your assets is the best to borrow against:

On this episode of Dentist Money™, Reese interviews Davis Smith, CEO, and Founder of Cotopaxi, one of the world's fastest-growing outdoor gear brands. Davis shares his experiences and advice on what it takes to build a fulfilling and profitable business - and how to improve your hiring process. Plus, you'll hear how to set clear core business values, which can unite your team and cultivate a more productive office culture. To find greater practice success, view your business through the eyes of an acclaimed entrepreneur. Find out what it takes to create a value-oriented and unified team.

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.

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.

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.

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?

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.

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.

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.

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.

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."

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.

Are you ignoring the most effective shot in your financial planning arsenal? In this episode of Dentist Money™ Reese and Ryan discuss how to rethink your approach to personal spending by using the money-ball analytics behind the NBA's recent 3-point shooting revolution. And this is no boring, painful discussion about "budgeting." Reese and Ryan deliver hope-inspiring advice on how to use effective financial planning to live a more enjoyable life both now, and in the future.

More referrals, fewer no-shows and higher case acceptance? It's not too good to be true. Dr. Chris Phelps, a best-selling author and the only dentist with Cialdini Method Certified Trainer credentials, is Reese's special guest on this episode of Dentist Money™. In this show he and Reese explore six ways to positively persuade people when they're making decisions. As a practice owner, knowing these techniques can help you create a more productive office environment—and build your practice as you get more patients to say "yes" to treatment.

You've seen the headlines: "Bull Market!" Or, "A Bear is lurking!" What do these two terms really mean for your investments? It's time for another round of listener questions on this episode of Dentist Money™. Are we in a Bull market? How do you know it's a Bear market? Reese and Ryan help define these overused terms, and show how a long- or short-term investment attitude really shapes the definition. And since they're defining terms, they also discuss net worth, how it's measured, and where you might expect yours to be at different points in your career. Finally, Reese and Ryan have a few thoughts on HSA strategies—and how that medical savings opportunity can fit into your retirement planning.

Learn how to maximize profit for each patient who comes through your door. In this episode of Dentist Money™ Reese interviews Dr. Rich Madow, co-founder of The Madow Center for Dental Practice Success, host of TBSE (The Best Seminar Ever), successful author, highly-entertaining speaker, and award-winning composer. Reese and Rich offer practical solutions to many of the issues you face as a practice owner, from how to increase profits to how to ensure your team works well together. We promise a good time—and some great insight into what it takes to run a successful practice.

What do sharks, snakes, surfing, and mosquitoes have in common? In this episode of Dentist Money™ you'll find out as Reese and Ryan talk about scary things that make you worry at the expense of other things you should be more concerned about. Of course the focus is on investing and how your fears might affect your future, but there's nothing like a great analogy to get a good discussion rolling. Take a closer look at your financial fears, you may be obsessing about the wrong thing.

What's the relationship between patient volume and practice growth? In this episode of Dentist Money™ Reese interviews Dr. Bruce Baird, practicing dentist and Founder and President of the Productive Dentist Academy. If you think being more productive means increasing your speed and adding more patients, you need to hear Dr. Baird's practical advice. He's helped thousands of dentists improve their productivity—and they've done it while working fewer hours. Listen as Reese gets Dr. Baird to share his recipe for increasing collections without working yourself into the ground.

Are you struggling with the same financial challenges as other dentists? Reese recently posted a survey in a popular online dental forum asking dentists what they were most concerned about when it came to their finances. In this episode of Dentist Money™ Reese and Ryan share the results of the poll and shed light on the two most popular responses. Take a second to think about the source of your financial stress, and then listen to see if you're in good company. The results might surprise you.

In this episode of Dentist Money™ Reese interviews Dr. Chris Salierno, chief editor of Dental Economics magazine and international lecturer. You'll hear why the days of passive practice ownership are over. You'll also learn about resources that can help you think more strategically and improve your business model. Plus, Reese and Chris have fun covering a few typical dentist issues in a fast paced lightning round.

Does it make sense for you to invest like big pension fund managers? The answer may surprise you. In this episode of Dentist Money™ Reese and Ryan take a close look at how investments for large endowments are managed. You'll hear about the mix of assets in these portfolios, and you'll learn how "alternative" investments have played into their strategies. Most importantly, you'll discover if it makes sense for you to follow suit with your own investments.

Are you creating a network of experts to help you build a successful practice? According to the Dental Amigos, Robert Montgomery and Dr. Paul Goodman, "Dentistry can be a lonely profession without good friends." In this fast-paced episode of Dentist Money™, Reese, Robert, and Paul cover everything from servicing student debt to DSO's to startup vs acquisition. And you'll want to hear The Dental Amigos explain why networking is so critical to today's successful practice. Plus, Reese pulls out a Dentist Money™ favorite—the Lightning Round.

Reese and Ryan knock out another round of questions on this Q&A episode of Dentist Money™. Hear their advice on what to look for in companies that provide after-tax investment services. And, in the always a "hot topic" category, you'll hear them discuss the trade offs between paying down debt versus building liquidity. Plus, there's a new wrinkle in this episode as Reese and Ryan pull quotes from a social media discussion on the same topic—so you'll hear how other dentists view the debt and liquidity conversation.

Are you getting through to your staff? Learn communication skills that deliver rapid results. Katherine Eitel Belt is CEO of LionSpeak, a communications coaching company, and she is Reese's guest on this episode of the Dentist Money™ Show. An international keynote speaker, author and coach, Katherine is known for her non-traditional approach to leadership and team building. Listen as she shares her unique viewpoint — one that can help you become a better leader and get you on the same page with your staff and patients. More importantly, you'll find out how Katherine's suggestions can help you put your business on a solid growth path.

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.

How does practice equity fit into your overall asset mix? As you build your net worth, do you consider how much your practice will contribute to your retirement? In this Dentist Money™ Show, Reese and Ryan explain how to prioritize your practice in relation to other assets like real estate, investments, and retirement accounts. They also explain how growth of one asset type can lead to growth of another.

It could be the #1 question on dentist's minds: "How will the growth of DSOs affect my practice?" In this Dentist Money™ interview from the Dental Success Summit, Reese Harper, CFP® welcomes attorney Brian Colao, Director of Dykema's Dental Service Organizations Industry Group. Brian represents several DSO venture capitalists and shares his view on the DSO business model compared to solo, multi-location, and group practices. He explains when it makes sense to transition to a DSO, how ownership structure differs from traditional practices, and the implications of selling to a DSO buyer versus a private practitioner.

What would happen if health issues prevented you from practicing dentistry? Would your current disability policy keep you afloat? In this episode of Dentist Money™, Reese & Ryan discuss a financial indicator from the Elements® table called Insurance Rate, and the performance benchmarks calculated during a recent analysis for Dentist Advisors clients. They touch on a few considerations for life insurance coverage, and dive deep into the features and definitions within disability policies that can have a major impact on a dentist's financial security.

How does social media influence the type of patients you attract? Beyond new patients, how can social media be used to grow your business? In this interview at the Greater New York Dental Meeting, Reese Harper, CFP® interviews Jack Hadley, founding partner of My Social Practice and MBA professor of social media marketing. Jack explains how social media can be used to strengthen relationships, describes some simple methods dentists can use to create effective content, and talks about leveraging your "alpha" audience to grow faster.