Making smart decisions with your money requires a certain level of sophistication. It can be difficult to understand the ins and outs of insurance coverage, investing, debt management, real estate, and practice finance. So how do some dentists make it look so easy to build wealth? In this week’s episode of Dentist Money™, Reese and Ryan reveal a few basic fundamentals followed by the most successful dentists.
According to financial expert Dave Ramsey, “Personal finance is about 80 percent behavior and only about 20 percent head knowledge.” So next time you squander your money or make a bad investment, you probably shouldn’t blame it on your decision to forego a masters in finance. We all have personality traits that make us vulnerable to poor financial decisions. In this week’s episode of Dentist Money™, Reese and Ryan explore nine personalities types common among dentists and discuss how to keep behavioral tendencies from compromising your retirement.
It comes with the territory. When you’re a successful professional, you become a prime target for litigation. But are you prepared for every unfortunate scenario that could ruin your retirement? Most dentists aren’t. In this episode of Dentist Money™, Reese and Ryan discuss the liability risks that most people don’t know about and how to protect yourself against expensive lawsuits.
Cash is piling up. Your bank balances are getting pretty solid. Do you have more than you need? How much is too much to keep in your practice checking account? What about the size of your personal emergency fund? Should you invest it, or pay off the remainder of your debts? In this episode of Dentist Money™, Reese and Ryan discuss why having a lot of assets doesn’t always mean financial security and the amount of cash you should keep in your bank account.