Do you know how your advisor gets paid? If not, there’s a good chance your best interest is taking a back seat to handsome commission checks and all-expenses-paid vacations. In this episode of Dentist Money™, Reese and Ryan describe a hypothetical DSO where production incentives are out of whack and patients are getting the raw end of the deal. Then they draw a comparison to the way many financial firms compensate their advisors.
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How is it possible that the average dentists retires later than the average American? Income can’t be the reason — dentists are among the highest earners in the country. And you can’t put all the blame on personal spending when there’s an entire web of variables to consider. In this episode of Dentist Money™, Reese & Ryan cover five main reasons dentists have a difficult time holding onto their income and building enough wealth to retire comfortably.
Milton Friedman, Peter Lynch, Warren Buffett. When financial advice comes from a nobel laureate, a legendary mutual fund manager, or an Oracle of Omaha, people tend to listen. But do they really understand the context of the advice? In this episode of Dentist Money™, Reese and Ryan dissect quotes from five famous economists and clarify the intended message of each. They also explain how the principles taught can be applied to dentists.
Are your investments protected from conflicts of interest? What is the relationship between your advisor and the custodian of your accounts? In this Dentist Money™ episode, Reese & Ryan discuss the role of a custodian, why it matters who your custodian is, and how investors have lost fortunes by trusting the wrong people. They also explain how custodians get paid and provide tips for protecting yourself from investment fraud.