June 17, 2016

Building Wealth without Stocks

Get rich quick schemes are everywhere you look, however, if you’re serious about building wealth you’ll need to look elsewhere. Using the stock market is obviously a great place to start, but it’s not the only way to amass a fortune to secure your future. There are several other great investment opportunities to help fund your retirement. The most popular venture outside the market is real estate. This is one of those areas you need to be careful though. Everyone and their brother have written a book and want to sell it to you on how to make money. There are a lot of pros and cons when it comes to investing in real estate. Many people jump in without fully understanding things like market timing, time management, law, or ROI. Typically they’ve read or bought something promising big returns and they end up burned. I know just as many people who have lost money in real estate as those who have made money. Another alternative is business…think “Shark Tank”. Instead of buying stock in XYZ fishing company, you can actually go out and partner with someone you know that needs your capital to get their business off the ground. Perhaps you can find […]
March 13, 2016
Top 4 things young dentist need to know when buying a dental practice

Top 4 things young dentist need to know when buying a dental practice

Top 4 things young dentist need to know when buying a dental practice If you’re a young dentist looking for your own practice, there are many things to consider before you buy. Here are four: Is your personality compatible with that of the selling dentist? At first blush it may seem irrelevant whether your personalities mesh. After all, you will be in charge, and they will be riding off into the sunset. What’s the issue? The issue is that your new practice will have been built around someone else’s personality. Whether they are dominant or passive, outgoing or introverted, both your patients and your employees will be accustomed to working with that type. If your patients are comfortable being told firmly what they need to do, they may not like being presented with a range of choices. And don’t forget that it’s expensive to lose patients. Not only do you waste the significant money you spent on your patient list in the first place; you are also looking at increased marketing costs to bring in new patients. The same holds true for your employees. If they have been pretty much left alone to do their jobs for the past decade […]
March 6, 2016

5 Top Financial Must Read Books

5 Top Financial Must Read Books Building wealth isn’t rocket science, but it does take some extra effort to understand the dos and don’ts that will get you where you want to be. If you’re looking for a good place to start that edification process, then look no further than these five books. The Richest Man in Babylon by George Samuel Clausen Written in 1926, this book may often get overlooked as a top financial read with some of today’s heavy hitters. However, it’s a book I recommend hands down to everyone that is seeking to gain financial wisdom. It is plain and simple advice set up as common sense stories that will not only enlighten you but keep you entertained as well. It’s just a really good book for those that don’t like to read self-help types of literature that tell you to do A, B, and C to get E, F and G. Without a doubt, it’s a down to earth book chalked full of knowledge that if followed will help you get on the financial track you’ve been looking for.   The Millionaire Next Door by Thomas J. Stanley and William D. Danko The authors of this […]