How does your savings rate compare to other dentists? More importantly, how much money should YOU be putting away each month? In this episode of Dentist Money™, Reese and Ryan cover Savings Rate fundamentals and recap a few insights gained from this month’s Elements® analysis for clients of Dentist Advisors. They talk about appropriate levels of saving, how Savings Rate might change throughout a dentist’s career, and why the advantages of a balanced savings plan go beyond building a financial reserve.
How would you rate your study club experiences? Do they add real value or do they seem unproductive? In this episode of Dentist Money™, Reese welcomes Dr. Martin Mendelson, Executive Vice President of Client Services at Spear Education. In this interview, Dr. Mendelson shares the keys to cultivating a successful study group. He also explains the roles of coaches, consultants, and mentors in a dentist’s life and the mindset of practice owners who embrace continuous improvement.
Do you have burning questions about your personal or practice finances? In this episode of Dentist Money™, Reese & Ryan respond to three dentists who submitted questions about office retirement plans, annuities, and “backdoor Roth” accounts. Advice includes the bigger picture around retirement plan selection, questions to ask about your existing annuities, and how cash flow plays into investment account decisions.
What’s the right balance of delegation and direct involvement? As the CEO of your practice, do you have enough information to be strategic, but not so much that it bogs you down? In this episode of Dentist Money™ Reese Harper welcomes Penny Reed who explains how practice management has evolved over the past twenty-five years. Penny is a renowned speaker and author, and has coached dentists across the country to become more profitable through better delegation and accountability. In this interview, she discusses the true value of a good consultant, how your personality should play into business decisions, and common mistakes that lead to poor office cultures.