If the Covid-19 has taught us anything, it is the fragile and interconnected nature of our society. In a span of a few weeks in March 2020, we went from a bustling economy to one that went to a standstill. City streets were eerily quiet and businesses shut down. Cash flow dropped to zero in days.
As practice owners, we all experienced fear and anxiety when our offices were closed. We had no idea when we would reopen and for many dentists, there was fear as to how we were going to pay our monthly bills. How were we going to provide for our family and our staff? How long can we survive being closed? It was a scary time for us all.
Unfortunately, many of our colleagues were not financially prepared. It was assumed that they could always work more and they’d be ok. So what happens when you CAN’T work and you don’t have the funds to ride the disruption? Some had to walk away from their practices. Some cashed in everything they had to survive.
As we start recovering from the pandemic, I thought it would be a great opportunity to bring on Ryan Isaac of Dentist Advisors to help us all get on the right financial track. Don’t be financially vulnerable again. You have to start somewhere and Ryan and his group of advisors are dedicated to helping dentists plan for their financial future. It starts NOW!
So what makes Dentist Advisors unique? They’ve been in the financial advising business for over 15 years so they know what they’re doing. They are certified financial advisors. But what makes them well positioned to help us is that they ONLY work with dentists. They know dentists and the unique needs and considerations that we have. So no, one size does not fit all and it does not work when it comes to financial planning.
As Ryan assures us, the basic financial principles don’t change. Regardless of the crisis, certain economic and investing principles still apply. You want an emergency fund, a certain amount of liquidity, and a high savings rate. But what matters then is the process of reaching those goals. A dentist who may have more assets tied up in real estate or a practice will have different needs from a sales director whose monthly paychecks may vary greatly depending on the sales for the month.
But even with dentists, there are different goals for different stages of your career. When you started out as a new grad associate, you didn’t have the same needs as a dentist in the twilight of his/her career with retirement looming in the near future. That retiring dentist most likely would not be investing in aggressive financial vehicles so close to retirement whereas a young dentist with small children might have different needs.
Don’t fret that you’re not where you want to be. Maybe you have minimal savings or maybe you have enough to retire early. The financial industry has become complex with so many financial products. Don’t go at it alone or with your pals on the Reddit forum. Dentists Advisors can help you reach your goals with a methodical plan based on sound financial principles.
-Why do Dentist Advisors only works with dentists
-Check out their podcast, the Dentist Money Show to learn great financial tips
-Three financial things you always need to be aware of-
Contact Dentist Advisors for a complimentary consultation at https://dentistadvisors.com/our-team/contact-us/
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