10 Financial Mistakes Pediatric Dentists Make, with Wes Lyon

Wes Lyon is a CPA, CFP, and CEO of McGill and Lyon Dental Advisors. His company, McGill and Hill Group, publishes the McGill Advisory, which is a monthly newsletter to dentists updating the latest events and tips for financial planning, investing, taxes, and practice ownership topics. I became familiar with this newsletter at the office of my previous employer, and based on recommendations of some older and wiser pediatric dentists, I recently subscribed. I personally have found it very helpful as a practice owner to have monthly updates about what's going on in the stock market, tax updates, practice management and retirement planning strategies.   I would definitely recommend to my listeners who own practices or are considering buying or starting a practice to subscribe to the newsletter.  Wes has offered our podcast listeners a 10% discount using the code PEDIATRIC10. He also has offered a FREE trial membership for pediatric residents who are interested in receiving the newsletter. Click the link to subscribe or learn more: https://www.mcgillhillgroup.com/Advisory/Current Wes joins us to talk about 10 financial mistakes that he sees dentists commonly make. We review this list below in detail. 1. Improper insurance 2. Not having a budget 3. Saving in the wrong place 4. Poor debt management 5. Concentrating on salary 6. Paying excessive taxes 7. Being house poor 8. One house/one spouse 9. Not taking advantage of HSAs 10. Trying to be a financial expert