The Best (and Worst) Practices in Practice Transitions

with Rob Montgomery

Buying a practice is a transaction that many Dentists will experience in their careers. This is one transaction when you want to get it right the first time!

Running time: 58:01

In this Thriving Dentist Show, Gary invited his friend Rob Montgomery as a Guest to share what he has learned in over 23 years of experience successfully guiding Dentists in Practice Transitions.

In this Show, Gary and Rob discuss;

  • How the transitions market has radically changed over the past 20 years,
  • the most common mistakes Dentists make when buying a practice,
  • why every buyer should be more interested in a ‘cash flow analysis’ rather than the purchase price,
  • how to correctly conduct due diligence (and bad or wrong due diligence),
  • the most important things to get right when buying a practice,
  • your ‘Go To’ Team of advisors when buying a practice,
  • how to avoid the most common Office Lease mistakes
  • and why a bad Lease can be a deal breaker.

Throughout this interview, Rob shares great advice to make buying a practice a positive experience!

Links for ‘Top Clinical Tips; with Dr. Lee Ann Brady:

Lee’s website:
http://www.leeannbrady.com

Restorative Nation Website:
http://www.restorativenation.com

Rob’s website:
http://www.yourdentallawyer.com

Link to The Dental Amigos website:
https://thedentalamigos.com/ce-seminars/

NOTE: A digital version of the September 21-22 Course presented by Dr. Pasquale Venuti in available on the dental amigos website. Pasquale Venuti is AMAZING!

Financial Freedom is Achievable for Dentists but you Must Know the Rules of the Game!

with Josh Robbins and Tom Zgainer - Episode 310

Gary defines Financial Freedom as the day when you can go to work because you want to, not because you have to. Despite having a very attractive annual income, most Dentists struggle with achieving Financial Freedom. A recent study reported that only 3% of the Dentists in the US could retire at age 65 without reducing their lifestyle. Gary Invited his friends Josh Robbins and Tom Zgainer to provide great tips on how Dentists can achieve Financial Freedom.

Running Time: 61:23 minutes

In this Show, Gary, Josh and Tom discuss; The retirement tools that Dentists can use at every stage of their career to achieve Financial Freedom, how to determine an appropriate savings rate at various stages of your career, how most Dentists are being adversely effected by high investment-related fees that are eroding your Net Worth, how to discover if you are over paying investment-related fees, how a properly designed 401K plan can be a powerful tool for you to achieve Financial Freedom and throughout the interview Josh and Tom share great, actionable information from Tony Robbins book titled Unshakeable. This powerful book is a #1 New York Times Best Seller filled with information that will help you achieve Financial Freedom.

To receive a FREE copy of the book; Unshakeable written by Tony Robbins:
uncovermyfees.com

Don’t Miss An Episode: Subscribe Free in iTunes | Google Play | Subscribe on Android

The Specific Reasons Why Dentists Retire 5 years Later Than the Average American

with Reese Harper - Episode 305

The American Dental Association recently released a study on the financial success of Dentists. Among other findings, this study concluded that the average retirement age for a dentist is 67, which seems reasonable until you compare it with the retirement age of the average American, which according to Gallup is 62. This seems especially perplexing given that the typical Dentist’s income is much higher than the average American.

Running Time: 69:59 minutes

In this Thriving Dentist Show, Gary interviewed his friend Reese Harper on how Dentists can achieve Financial Independence. In this Show, Gary and Reese discuss; How behavior and personality traits play a big role in how Dentists make decisions about money, an in-depth discussion about the 9 specific financial archetypes and the relationship between personality traits and financial behavior, how to avoid the common mistakes that each of the personality types tend to make, how to determine an appropriate savings rate, how to fund your children’s education and how to develop the specific habits that will allow you to achieve financial independence. The goal of this interview is to help you practice dentistry because you want to, not because you have to!

Reese’ website:
http://www.dentistadvisors.com

Reese’ Podcast:
The Dentist Money Show
http://dentistadvisors.com/series/dentistmoney/

Reese Phone Number
833-DDS Plan (833-337-7526)

The Model of a Single Location Group Practice that Produces $10M+ per year Driven by a Noble Cause

with Dr. Craig Spodak

There are many different models of success in dentistry. In this Thriving Dentist Show Gary interviews his friend Dr. Craig Spodak from Delray Beach, FL about his practice model. Craig’s model is a single location group practice that produces over $10M per year driven by a Noble Cause.

Running Time: 58:03 minutes

In this Show Gary and Craig discuss; Craig’s experience as a 3rd generation Dentist, his vision of an ideal building which is LEED (Leadership in Energy Environmental Design) Gold Certified, the importance of creating a ‘Noble Cause’, Craig’s 14 Core Values in his practice, the power of intention, importance of learning from mistakes, Craig’s model of a single location vs. building a group of multiple locations, how Craig discovered that the was paying excessively high fees in his pension plan, the influence of Tony Robbins on Craig’s life and throughout the interview Gary and Craig discuss the meaning of ‘Geek Sheik’. You will love Craig’s powerful vision and his passion for our amazing profession!

Craig’s website:
spodakdental.com

Connect with Craig on Facebook

Connect with Craig on Instagram

To receive a Free copy of the book Unshakeable by Tony Robbins:
thrivingdentist.com/tony

The Science of Personal Finance for Dentists

with Reese Harper

Last week Gary interviewed his friend, Dr. Doug Carlsen on the Thriving Dentist Show and they discussed the top tips that will allow Dentist to successfully retire with financial independence. That Thriving Dentist Show literally went viral soon after being published.

 

Running Time: 58:37 minutes

In that interview, Doug mentioned that he recommends Aquire Advisors as a financial advisory firm that helps Dentists make smart decisions about their money. In this Thriving Dentist Show, Gary interviews Reese Harper the founder of Aquire Advisors. In this Show, Gary and Reese discuss; the most common challenge that causes Dentists to delay retirement, why Acquire works exclusively with Dentists, how Reese was able to be issued a trademark on a periodic table of financial health and the major pitfalls Dentists make with their investments. This is an information-packed interview on a topic of keen interest and importance for all Dentists!

Reese website: www.aquireadvisors.com

Reese email address: reese@aquireadvisors.com

Link to the Elements™ Workbook: http://aquireadvisors.com/elements-workbook/

Link to the list of financial planning questions: http://aquireadvisors.com/real-planning

Link to list of mistakes dentists make that delay retirement: http://aquireadvisors.com/7-big-financial-mistakes-delay-retirement

Top Tips to Successfully Retire with Financial Independence

with Dr. Doug Carlsen

Sadly, the American Dental Association reports that very few Dentists can retire at age 65 without reducing their lifestyle. Gary is passionate about changing that statistic and helping more Dentists achieve financial independence so they can go to work because they want to not because they have to!

 

Running Time: 63:12 minutes

In this Show, Gary interviews his friend Dr. Doug Carlsen about how Dentists can successfully achieve financial independence. They discuss how much Dentists should save each year, the 40, 25, 35 rule, specific investment strategies, investment scams to avoid, discount investment brokers and how to avoid paying too much in investment fees. This topic is critically important for all Dentists and Doug is passionate about helping his colleagues retire with the success they deserve!

Earlier Thriving Dentist Show with Dr. Doug Carlsen:
Secrets from Dentists Who Have Been Able to Successfully Retire Early

Doug’s email address: drcarlsen@gmail.com

Doug’s website: www.golichcarlsen.com

Aquire Advisors: www.aquireadvisors.com

Bason Asset Management: www.basonasset.com

What is Your Practice Really Worth?

with Dr. David Griggs

Dental PodcastYour practice is one of your most valuable assets. In this interview Dr. David Griggs will provide you with important information to help you determine what your practice is really worth.

 

 

 

Running Time: 55:24 min

As the author of the best-selling book titled: Successful Practice Transitions, Dr. Griggs is one of the most respected authorities on practice valuation and practice transition topics. Not only is Dr. Griggs a brilliant authority on on the subject, but he has been a very close friend of Gary’s for over 25 years and he is Gary’s ‘Go To’ source when it comes to all things related to practice valuation and practice transition strategy! In this interview, Gary and Dr. Griggs discuss when it is appropriate to have a practice valuation, practice transition options including; Associateship leading to buy-in, Pre-retirement sale, Practice merger sale and Walk-away sale. Perhaps most importantly, Dr. Griggs shares his vast experience to help you determine what transition strategy is best suited for your needs. You will appreciate Dr. Griggs’ objective viewpoint and his vast experience to help you navigate this important topic!

Dr. Griggs website:   www.griggspracticetransitions.com

Email address: dgriggs@griggspracticetransitions.com

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Secrets of Dentists Who Have Successfully Retired Early

with Dr. Doug Carlsen

Dental Podcast

Dr. Doug Carlsen enjoyed a private practice in Albuquerque, New Mexico for 25 years until retiring from practice at the age of 53. Since then he has studied other Dentists who were able to retire at an early age and recorded their stories. He has written over over 45 articles for Dental Economics and DentalTown and currently writes a monthly column for DentalTown often receiving the most views of any content on DentalTown.

 

Running Time: 1:04:24 min

In this interview Doug identifies the common characteristics and personal attributes of Dentists that were able to successfully retire at an early age. Additionally, Doug discusses his debt strategy for Dentists, a guideline on the appropriate amount to save and best investments to gain financial independence. 

Doug’s website:                www.golichcarlsen.com 

Doug’s email address:    drcarlsen@gmail.com

We appreciate your review on iTunes!