For two and a half years, stimulus dollars granted you some extra spending monies and, chances are, resulted in easing up on what’s all going out the door. This year things have changed and there’s no better time than now to regain control of your spending and get your expenses back in line. The guys close out the season by evaluating the areas within your practice you should heavily monitor to help you prepare for whatever this year has in store.
Although it feels like more, corporate-owned practices make up only 10-15% of the total dental practice marketplace. While the high multiples and flexibility are appealing, not every practice has a model that’s compatible. NDP’s Christy Ratcliff is back in the studio to go over the type of practice a public sale may be right and wrong for and her view of the impact FOMO has had on practice owners' personal and professional goals.
A volatile 2022 is behind us, but with interest rates on the rise, many dental practice buyers and sellers are feeling conflicted with transition plans. NDP and 7Pillars Partner Christy Ratcliff joins the guys to discuss what she’s seeing in both private and DSO practice sales and how that could evolve in 2023.
You can now save more in your 401(k) and IRA this year, but given the down market, is now really the time to increase your retirement contributions? The guys ring in the new year by reviewing if your savings strategies should change in response to the updated 2023 contribution limits.
After living large on market returns, low interest rates and stimulus the past few years, 2022 dropped in to bring us back down to earth. Yesterday’s problems seem here to stay, which means it’s time to right-size your lifestyle for the new year. In this episode, the guys help you leverage some of the upsides from 2022 to get a head start on a 2023 plan that will not only bring you peace of mind but will help you stay on track to meeting your long-term goals
About 52% of decision makers within dental offices intended to focus on patient engagement in 2022, but maintaining this goal was more difficult than expected. The guys take a look back on those ever-increasing staff wages, the debate of raising fees and setting budgets, and the possible ‘new normal’ we may expect in 2023.
Domestic and global polarization is at an all-time high, and it’s impacting more than just your dinner conversations. The guys discuss the strength of the U.S. Dollar, onshoring implications, and the potential impact the midterm shift in power may have on energy, oil, and taxes.
2022 brought a shakeup in the stock and bond market leaving investors feeling like they had nowhere to hide. The guys analyze the year from the beginning, make sense of the mania surrounding the market headlines and offer some guidance on how to approach it all in 2023.
We’ve made an end-of-year tax savings checklist and now it’s time to check it twice. Hunter and Judson take into consideration the changing economic landscape, business projections, and if you’ve been naughty or nice, as they walk you through these helpful tax-saving strategy tips. It’s not too late, listen in to ensure your money is working for you as some changes may be necessary to take advantage of before Dec. 31, 2022. For a full list of tax considerations, click here.
Caring for aging parents is a compassionate but often trying commitment. Already an emotional ride, add the financial component and family dynamics into the mix, and you’ve got the recipe for a bumpy ride. Founder Darrell Cain advises on initiating important conversations with family, reducing the risk of manipulation, and exploring your resources and options, all while examining your own financial bandwidth.
The cost of life seems to take many college graduates by surprise. One way to avoid the crash and burn? Prepare your kids early to fully understand the role money plays in our everyday lives. Special guest, Dr. Earle Sullivan shares his experience raising his three adult children and the lessons that packed the most punch. He’ll admit, it didn’t all come from inside the home, many of the influential lessons came from fellow colleagues, friends and seminars.
CWA Partner and CPA Dan Wicker has instilled good financial values in his adult children...right? When his kids went off to college, he had to face what every parent eventually does: watching his children manage their own time and money, hoping they learned and absorbed what he had tried to teach them their whole life. In this episode, he talks about what every parent can do to set up their children for success early in life.
Over the years, you face competing demands on your time and financial resources from children, aging parents, dependents and loved ones in your life. In this episode, the guys talk with Drs. Ryan and Tiffany Harris on what it’s like to juggle a successful practice, activism within their community, and, most importantly, teaching their four children the values of money, from everyday transactions to long-term investments.
In today’s episode, CWA Partner Tim Greaves recalls the ’08 recession and answers the question: “are we safer today than we were many years ago?” While no two downturns are quite the same, the guys talk about lessons learned and hash out the best measures you can take to prepare for a potentially bumpy ride.
With the threat of a real recession looming, it’s time to make some serious business decisions. The initiatives you put on hold during the pandemic may need to be brought back to life. In this episode, Judson and Hunter discuss the things you can do to help you put your best foot forward during tough economic times.
The guys are back to calm seasoned and new investors on the market volatility fears. While it is scary, embracing it could be an opportunity for profit, whether you are a retiree who is concerned on when to pull from investments or the newbie who may be allowing emotion to dictate their investment behavior.
This season starts on a high note—the 100th episode! Today they look at what elements of your personal and business plan you should get in order to breathe easier if adverse economic times hit sooner than expected. Additionally, they list out resources to have in place for the next 12-24 months.
The day of a practice owner doesn’t end when the last patient walks out the door. How are you keeping up with the items on your business owner to-do list? Trying to manage it all often comes with one big headache, and likely even some things pushed to the back burner. Listen in as the guys advise on how to best allocate you and your team’s time.
Clinical education and training does not always translate to preparation for owning a business. Especially when it comes to managing people. Hunter, Judson and guest Paul Edwards with CEDR Solutions is here to change that by sharing how owners can leverage an HR strategy to help build a team for the long-term.
At some point, you’ve likely battled PPO insurance reimbursement rates in your practice. While there’s no one-size-fits-all answer, the decision to leverage insurance carriers or go fee-for-service only in your practice can impact your business for years ahead. The guys discuss the advantages and disadvantages on your options, from accepting insurances, dropping insurances and everything in between.