March 15, 2016
How Much Life Insurance Do I Really Need

How Much Life Insurance Do I Really Need?

How Much Life Insurance Do I Really Need? When it comes to preparing for the future, most people are ready to make a plan for retirement, but 4 out of 10 Americans fail to even think about life insurance. While no one wants to plan for their demise, it’s just as important as retirement. What will financially happen to those you leave behind? Will they be left with a solid future or scrambling to make ends meet while also trying to pick up the pieces of their life? Even if you have made the effort to implement some sort of arrangements for those you cherish most, is it enough? Can you really know how much life insurance you need? There’s a few ways to look at it. First, let’s look at a couple that perhaps one spouse is the only breadwinner and they have three kids. The  immediate thing you’ll need to do is analyze your debt. How much debt do you have? Next, you have to look at whether you’re going to want spouse to have to pick up the mantle and start bringing home an income if you were to pass. Most likely you’d want them to be […]
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 12, 2016
first year of your new dental practice

Surviving the first year of your new dental practice

Surviving the first year of your new dental practice Young dentists know a lot about teeth—taking care of them, repairing them, making them look beautiful. What these young professionals don’t know a lot about is running a successful business. If this describes you, don’t worry; help is available!! Let’s say you’re fresh out of residency and you just bought your own practice. (Finding and purchasing a dental practice is another process you shouldn’t tackle without guidance; we go into the details here). Heritage Investors has helped many young dentists get off on the right foot. You don’t need to wade into the business world without guidance, and there’s no reason why you should. Your new practice: Year 1. Your first year in business won’t just be about taking care of teeth; that will be the easy part. That first year will also be a crash course in business: planning, budgeting, accounting, tax strategies, patient relations, employee relations. We won’t turn you into an accountant, but we’ll make sure you’re comfortable around a spreadsheet. We won’t turn you into a diplomat, but you’ll come out of the experience better able to get along with the people around you. Here are a […]
February 23, 2016

Three Phases of Strong Financial Planning

Which phase are you in? Are you making the right decisions in this phase?