Dentists, Puns, and Money

In this episode, host Shawn Terrell explores the concept of thinking fourth dimensionally in tax planning, using the analogy from Back to the Future to highlight the interconnectedness of financial decisions. He discusses how to avoid unintended consequences in tax harvesting and emphasizes the importance of comprehensive, forward-thinking strategies. -------------------------------Episode Resource ----------------------------------Meet with Dentist Exit Planning Advisor:Schedule Discovery Meeting-----------------------------------About Dentist Exit Planning:Website: dentistexit.comFacebook Group for DentistsYouTubeInstagramLinkedInSign-Up for Dentist Exit Email NewsletterEmail Shawn at: [email protected]

In this episode, host Shawn Terrell explains the mechanics of tax loss and tax gain harvesting, including when and how to implement it, with practical examples and considerations for maximizing tax efficiency.Whether you're investing in non-qualified accounts or planning for future dental practice transitions, understanding these concepts can significantly impact your financial efficiency.-------------------------------Episode Resource ----------------------------------Meet with Dentist Exit Planning Advisor:Schedule Discovery Meeting-----------------------------------About Dentist Exit Planning:Website: dentistexit.comFacebook Group for DentistsYouTubeInstagramLinkedInSign-Up for Dentist Exit Email NewsletterEmail Shawn at: [email protected]

In this episode, host Shawn Terrell breaks down the complex but powerful strategy of tax harvesting—both loss and gain—to help dentists optimize their long-term tax outcomes. Whether you're investing in non-qualified accounts or planning for future transitions, understanding these concepts can significantly impact your financial efficiency.-------------------------------Episode Resource ----------------------------------Meet with Dentist Exit Planning Advisor:Schedule Discovery Meeting-----------------------------------About Dentist Exit Planning:Website: dentistexit.comFacebook Group for DentistsYouTubeInstagramLinkedInSign-Up for Dentist Exit Email NewsletterEmail Shawn at: [email protected]

In this episode, host Shawn Terrell discusses the common confusions surrounding Roth IRAs, particularly the differences between contributions and conversions. He emphasizes the importance of understanding these differences, the irrevocable nature of conversions, and the tax implications involved. The episode also highlights the need for accurate reporting on tax returns and offers resources for listeners seeking further information on tax rules and financial planning for dentists.-------------------------------Episode Resource ----------------------------------Meet with Dentist Exit Planning Advisor:Schedule Discovery Meeting-----------------------------------About Dentist Exit Planning:Website: dentistexit.comFacebook Group for DentistsYouTubeInstagramLinkedInSign-Up for Dentist Exit Email NewsletterEmail Shawn at: [email protected]

In this episode, host Shawn Terrell discusses how to think about timing Roth IRA conversions for a dentist who plans to exit from clinical dentistry. He uses the analogy of a long bike ride on RAGBRAI as a way to think about ideal timing.The objective for dentists like Dr. Bill is strategic timing of Roth IRA conversions to minimize tax burdens.-------------------------------Episode Resource ----------------------------------Meet with Dentist Exit Planning Advisor:Schedule Discovery Meeting-----------------------------------About Dentist Exit Planning:Website: dentistexit.comFacebook Group for DentistsYouTubeInstagramLinkedInSign-Up for Dentist Exit Email NewsletterEmail Shawn at: [email protected]

In this episode, host Shawn Terrell discusses the financial implications of Roth IRA conversions for dentists nearing retirement, particularly focusing on how these conversions can mitigate tax burdens and provide greater control over retirement funds. He explains the strategic advantages of converting deferred accounts to Roth IRAs, highlighting the long-term benefits of tax-free withdrawals and reduced required minimum distributions (RMDs).Shawn also mentions the importance of tackling difficult tasks promptly, using the metaphor of 'eating the frog' to illustrate the benefits of making hard decisions while mitigating procrastination.-------------------------------Episode Resource ----------------------------------Meet with Dentist Exit Planning Advisor:Schedule Discovery Meeting-----------------------------------About Dentist Exit Planning:Website: dentistexit.comFacebook Group for DentistsYouTubeInstagramLinkedInSign-Up for Dentist Exit Email NewsletterEmail Shawn at: [email protected]

In this episode, host Shawn Terrell discusses the importance of planning for Required Minimum Distributions (RMDs) in retirement, using the analogy of a problematic driveway to illustrate the need for proactive financial strategies. He emphasizes the consequences of not having a plan for RMDs, including higher taxes and implications for beneficiaries. The conversation also touches on strategies to manage RMDs effectively to minimize tax burdens and ensure financial efficiency for both the individual and their heirs.-------------------------------Episode Resource ----------------------------------Meet with Dentist Exit Planning Advisor:Schedule Discovery Meeting-----------------------------------About Dentist Exit Planning:Website: dentistexit.comFacebook Group for DentistsYouTubeInstagramLinkedInSign-Up for Dentist Exit Email NewsletterEmail Shawn at: [email protected]

In this episode, host Shawn Terrell discusses the importance of tax diversification for dentists nearing retirement. He explains the four types of taxes on investments: ordinary income, deferred, capital gains, and tax-free. Shawn emphasizes the benefits of diversifying across these tax types to minimize lifetime tax liability and maximize retirement options.------------------------------Chapters00:00:00 Introduction to Tax Diversification00:00:00 Understanding Ordinary Income Tax00:00:00 Deferred Tax Explained00:00:00 Capital Gains Tax Overview00:00:01 Benefits of Tax-Free Investments00:00:01 Conclusion and Professional Advice-------------------------------Episode Resource ----------------------------------Meet with Dentist Exit Planning Advisor:Schedule Discovery Meeting-----------------------------------About Dentist Exit Planning:Website: dentistexit.comFacebook Group for DentistsYouTubeInstagramLinkedInSign-Up for Dentist Exit Email NewsletterEmail Shawn at: [email protected]

In this episode, host Shawn Terrell discusses the SALT deduction within the One Big Beautiful Bill. Listen for insights into how the OBBBA impacts dentists planning their financial future post-clinical practice.---------------------------------Episode Resource:https://tr.ee/zIM4M4 --------------------------------Meet with Dentist Exit Planning Advisor:Schedule Discovery Meeting---------------------------------About Dentist Exit Planning:Website: dentistexit.comFacebook Group for DentistsYouTubeInstagramLinkedInSign-Up for Dentist Exit Email NewsletterEmail Shawn at: [email protected]

In this episode, host Shawn Terrell delves into the One Big Beautiful Bill Act and its implications for those over 65. It highlights the $6,000 tax deduction available via OBBBA to individuals 65 and older, the implications for Social Security taxation, and the potential for strategic tax planning.--------------------------------Chapters00:00:00 Introduction to the One Big Beautiful Bill Act00:01:42 Exploring the Tax Deduction for Seniors00:03:16 Understanding the $6,000 Deduction00:04:41 Phasing Out and Expiry of the Deduction00:06:15 Strategic Tax Planning and Conclusion---------------------------------Episode Resource:https://tr.ee/zIM4M4 ----------------------------------Meet with Dentist Exit Planning Advisor:Schedule Discovery Meeting-----------------------------------About Dentist Exit Planning:Website: dentistexit.comFacebook Group for DentistsYouTubeInstagramLinkedInSign-Up for Dentist Exit Email NewsletterEmail Shawn at: [email protected]

In this episode, host Shawn Terrell discusses the complexities of financial language, particularly the terms 'above the line' and 'below the line' in tax contexts, and how they relate to dental professionals. He explains the impact of the One Big Beautiful Bill Act on these terms and offers insights into deductions and tax strategies for dentists.--------------------------------Chapters00:00:00 Introduction to Financial Language00:00:00 Above vs Below the Line Explained00:00:00 Impact of the One Big Beautiful Bill Act00:00:00 New Deductions and Tax Strategies00:00:00 Conclusion and Resources---------------------------------Episode Resource:https://tr.ee/zIM4M4 ----------------------------------Meet with Dentist Exit Planning Advisor:Schedule Discovery Meeting-----------------------------------About Dentist Exit Planning:Website: dentistexit.comFacebook Group for DentistsYouTubeInstagramLinkedInSign-Up for Dentist Exit Email NewsletterEmail Shawn at: [email protected]

In this episode, host Shawn Terrell discusses the inspiration behind the podcast's new direction, drawing parallels to the movie "Almost Famous" and introducing the fictional character Dr. Bill. Shawn outlines the podcast's focus on deep dives into retirement planning topics for dentists, starting with the "One Big Beautiful Bill Act" of 2025.--------------------------------Chapters00:00:00 Introduction and Podcast Direction00:00:00 Introducing Dr. Bill00:00:00 The One Big Beautiful Bill Act00:00:00 Tax Implications and Financial Decisions00:00:00 Conclusion and Resources---------------------------------Episode Resource:https://fierce-teacher-3401.kit.com/17e5993127 ----------------------------------Meet with Dentist Exit Planning Advisor:Schedule Discovery Meeting-----------------------------------About Dentist Exit Planning:Website: dentistexit.comFacebook Group for DentistsYouTubeInstagramLinkedInSign-Up for Dentist Exit Email NewsletterEmail Shawn at: [email protected]

In this episode, host Shawn Terrell shares personal anecdotes about prioritizing life experiences over mundane tasks like lawn care, drawing parallels to how dentists should approach their financial futures. The conversation emphasizes the need for a strategic approach to retirement planning, including income strategies, tax optimization, and intentional legacy planning. Shawn also believes that not all dentists will need to stress about their finances in their post clinical lives.--------------------------------Chapters00:00 Introduction to Life After Dentistry06:11 Deciding How Much to Care About Money---------------------------------Episode Resource:XXX ----------------------------------Meet with Dentist Exit Planning Advisor:Schedule Discovery Meeting-----------------------------------About Dentist Exit Planning:Website: dentistexit.comFacebook Group for DentistsWatch on YouTubeInstagramLinkedInSign-Up for Dentist Exit Email NewsletterEmail Shawn at: [email protected]

In this episode, Shawn Terrell provides updates on his own Roth IRA conversion, which was previously discussed on Podcast Episode 95,  released in January of 2025.In this update episode, Shawn dicusses what he learned about his Roth conversion when filing his 2024 taxes and analyzes his decision to execute this tax planning strategy. He reflects on the federal and state tax implications, the importance of accurate tax reporting, and strategies to avoid underpayment penalties. He shares insights on planning for tax conversions and emphasizes the long-term benefits of converting to a Roth IRA, despite some unexpected challenges during the process.------------------------------Dentist Exit Planning:Website: dentistexit.comEmail Shawn at: [email protected] a Discovery MeetingSign-Up for Dentist Exit Email Newsletter-------------------------------Follow Dentist Exit on Social Media:Facebook Group for DentistsWatch on YouTubeInstagramLinkedIn

In this episode of Dentists, Puns and Money, host Shawn Terrell discusses the recent market volatility and its implications for dentists nearing retirement. Shawn emphasizes the importance of acknowledging anxiety about financial losses, understanding the cyclical nature of the market, and having a solid financial plan in place. He also highlights the need to look for opportunities during market dips and advises listeners to limit exposure to anxiety-inducing news and social media.Chapters00:00 Introduction to Market Volatility02:51 Understanding Market Fluctuations05:28 Planning for Financial Security08:40 Navigating News and Anxiety------------------------------Dentist Exit Planning:Website: dentistexit.comEmail Shawn at: [email protected] a Discovery MeetingSign-Up for Dentist Exit Email Newsletter-------------------------------Follow Dentist Exit on Social Media:Facebook Group for DentistsWatch on YouTubeInstagramLinkedIn

In this episode of Dentists, Puns, and Money, host Shawn Terrell discusses the multifaceted aspects of retirement beyond financial planning. He emphasizes the importance of maintaining physical health, staying updated with technology, nurturing friendships, and finding purpose in life after clinical practice. Through personal anecdotes and insights, Shawn highlights how these elements contribute to a fulfilling retirement experience.------------------------------Dentist Exit Planning:Website: dentistexit.comEmail Shawn at: [email protected] a Discovery MeetingSign-Up for Dentist Exit Email Newsletter-------------------------------Follow Dentist Exit on Social Media:Facebook Group for DentistsWatch on YouTubeInstagramLinkedIn

In this 100th episode of the podcast, host Shawn Terrell reflects on the evolution of 'Dentists, Puns and Money' since its inception during the pandemic. He discusses changes in format, frequency, and personal experiences, particularly regarding health challenges. Shawn emphasizes the importance of recognizing both changes and constants in life, especially for dentists planning their future after clinical practice. He encourages listeners to contemplate what truly matters in their financial and personal lives as they transition into retirement.------------------------------Dentist Exit Planning:Website: dentistexit.comEmail Shawn at: [email protected] a Discovery MeetingSign-Up for Dentist Exit Email Newsletter-------------------------------Follow Dentist Exit on Social Media:Facebook Group for DentistsWatch on YouTubeInstagramLinkedIn

In this episode, Shawn Terrell discusses the importance of living a fulfilling life beyond the confines of dentistry. He introduces the concept of a 'billboard question' inspired by Tim Ferriss, encouraging listeners to reflect on their life philosophies. TakeawaysYou will die someday. Make decisions about how you live your life based on this reality.Consider what your future self in making decisions. Actions should align with what you say is important to you.------------------------------Dentist Exit Planning:Website: dentistexit.comEmail Shawn at: [email protected] a Discovery MeetingSign-Up for Dentist Exit Email Newsletter-------------------------------Follow Dentist Exit on Social Media:Facebook Group for DentistsWatch on YouTubeInstagramLinkedIn

SummaryIn this episode of Dentists, Puns, and Money, host Shawn Terrell discusses the unexpected challenges faced by dental practice owners and the importance of financial planning for life after clinical dentistry. He shares a story of a practice owner who experienced a series of unfortunate events, emphasizing the need to expect the unexpected. TakeawaysWhen bad things happen, they often happen in succession.Having options for cash flow during market dips is crucial.Unexpected expenses can arise during retirement planning.-----------------------------Resources from Episode  ------------------------------Dentist Exit Planning:Website: dentistexit.comEmail Shawn at: [email protected] a Discovery MeetingSign-Up for Dentist Exit Email Newsletter-------------------------------Follow Dentist Exit on Social Media:Facebook Group for DentistsWatch on YouTubeInstagramLinkedIn

SummaryIn this episode of Dentists, Puns and Money, host Shawn Terrell discusses the importance of tax preparation for dentists, sharing personal anecdotes and practical tips. He emphasizes the significance of a tax filing checklist to avoid common mistakes and ensure all necessary documents are accounted for.TakeawaysThe importance of having a financial treatment plan for life after dentistry.A tax filing checklist can help avoid missing important documents.Mistakes on tax returns can lead to complications later.-----------------------------Resources from Episode  ------------------------------Dentist Exit Planning:Website: dentistexit.comEmail Shawn at: [email protected] a Discovery MeetingSign-Up for Dentist Exit Email Newsletter-------------------------------Follow Dentist Exit on Social Media:Facebook Group for DentistsWatch on YouTubeInstagramLinkedIn

In this episode of 'Dentists, Puns and Money', host Shawn Terrell uses a popular internet meme from a few years back to explore challenges older clients sometimes have with navigating technology. This could be a growing issue as more and more Baby Boomers enter retirement and are charged with using newer technology to handle the financial piece of their post-clinical life. Shawn emphasizes the importance of human interaction and support in navigating these technological hurdles and seeks feedback from the audience on potential solutions.TakeawaysOlder clients sometimes struggle with technology, impacting their financial management.A more human approach is needed to assist clients with technology.The process of accessing client funds has become easier, but requires more time for the initial setup. -----------------------------Email Shawn at: [email protected] Exit Planning:Website: dentistexit.comSchedule a Discovery MeetingSign-Up for Dentist Exit Email Newsletter-------------------------------Follow Dentist Exit on Social Media:Facebook Group for DentistsWatch on YouTubeInstagramLinkedIn

In this episode, Shawn Terrell discusses the importance of being your own best client or patient, and how that relates to his own personal financial situation.  He shares his experience with his own Roth IRA conversions and what he learned about timing and strategy in tax planning. As tax laws change after 2025, he provides insights on how to navigate these changes effectively to optimize tax savings.TakeawaysRoth IRA conversions can be beneficial during low tax periods.Break up large conversions to manage tax implications better.Unexpected income can complicate tax planning strategies.Micro engagements in tax planning can lead to significant savings.-----------------------------Resources from Episode  ------------------------------Dentist Exit Planning:Website: dentistexit.comEmail Shawn at: [email protected] a Discovery MeetingSign-Up for Dentist Exit Email Newsletter-------------------------------Follow Dentist Exit on Social Media:Facebook Group for DentistsWatch on YouTubeInstagramLinkedIn

In this episode, Shawn Terrell discusses essential financial planning strategies for dentists in 2025, focusing on key numbers that will impact retirement savings and tax planning. He highlights the importance of understanding catch-up contributions, especially for those nearing retirement, and provides resources for listeners to access updated financial information.--------------------------TakeawaysImportant financial numbers go up every year.Catch-up contribution for 2025 between age 50-59 is $7,500.The maximum qualified plan total deferral is $34,750 for ages 60 to 63.Tax deferred accounts can be crucial for late-stage dentists.The Secure Act 2.0 introduced new catch-up limits starting in 2025.Roth IRA and Traditional IRA contribution limit is $7,000 for 2025.Download all the important numbers for 2025.Late-career dentists may be able to stuff a little bit more money away.Understanding these numbers is vital for financial planning.-----------------------------Resources from Episode  ------------------------------Dentist Exit Planning:Website: dentistexit.comEmail Shawn at: [email protected] a Discovery MeetingSign-Up for Dentist Exit Email Newsletter-------------------------------Follow Dentist Exit on Social Media:Facebook Group for DentistsWatch on YouTubeInstagramLinkedIn

In this episode of Dentists, Puns, and Money, host Shawn Terrell discusses essential financial considerations for dentists as they approach the end of 2024. He emphasizes the importance of planning for taxes, including converting to a Roth IRA, understanding required minimum distributions, and utilizing tax loss harvesting strategies. Shawn also highlights the significance of being aware of income thresholds that could affect tax brackets and offers a downloadable checklist for listeners to help them stay organized during the busy holiday season.--------------------------TakeawaysConsider converting some portion of tax deferred accounts to Roth IRAs before year-end.Ensure required minimum distributions are taken to avoid penalties.Tax loss harvesting can help offset gains in taxable investments.Be aware of income thresholds that may affect tax rates.Maximize contributions to health savings accounts and retirement plans.Charitable contributions can be made in a tax-efficient manner.Planning ahead can save money on taxes in the long run.Utilize available resources and checklists for financial planning.Stay informed about changes in tax laws and regulations.The holiday season is a good time to review financial goals. -----------------------------Resources from Episode  ------------------------------Dentist Exit Planning:Website: dentistexit.comEmail Shawn at: [email protected] a Discovery MeetingSign-Up for Dentist Exit Email Newsletter-------------------------------Follow Dentist Exit on Social Media:Facebook Group for DentistsWatch on YouTubeInstagramLinkedIn

In this episode, Shawn Terrell shares valuable money lessons learned from his near-death experience and strokes in 2023. He emphasizes the importance of organization, accessibility of important documents, and the necessity of disability insurance. Through personal anecdotes and practical advice, he encourages listeners to take proactive steps in managing their finances and preparing for unforeseen circumstances.-------------------------------TakeawaysGet organized with your finances and important documents.Complete your estate planning documents as soon as possible.Store important documents in an easily accessible location.Consider digital assets and ensure someone can access them.Disability insurance is crucial for financial security.Keep disability insurance if you are financially dependent on your practice.Use slower periods in life to tackle big financial projects.Having a plan in place can ease stress during emergencies.It's hard to convey the impact of a near-death experience.Life lessons can shape our financial decisions moving forward.-------------------------------Resources from Episode  --------------------------------Dentist Exit Planning:Website: dentistexit.comEmail Shawn at: [email protected] a Discovery Meeting with ShawnSign-Up for Dentist Exit Email Newsletter----------------------------------Follow Dentist Exit on Social Media:Facebook Group for DentistsWatch on YouTubeInstagramLinkedIn

SummaryIn this episode, Shawn Terrell reflects on his near-death experience and shares profound life lessons learned from it. He discusses the importance of balancing work and life, the inevitability of health changes, and the significance of relationships during tough times. Shawn emphasizes the need to enjoy life in the present rather than waiting for retirement and highlights how unexpected challenges can reshape our perspectives.--------------------------------TakeawaysPeople spend too much of their lives focused on work.It's important to enjoy life while you're in the middle of it.Health changes can become a central focus of life.You can't account for everything in life.Pay attention to who shows up for you during hard times.Not everyone wants to think about dying.Friends may show support in different ways.Life is unpredictable and requires flexibility.The importance of health cannot be overstated.No dress rehearsal, this is our lives.--------------------------------Email Shawn--------------------------------Dentist Exit Planning Resources:Website: dentistexit.comSchedule a Discovery Meeting with ShawnSign-Up for Dentist Exit Email Newsletter----------------------------------Follow Dentist Exit on Social Media:Facebook Group for DentistsWatch on YouTubeInstagramLinkedIn

SummaryIn this episode, Shawn Terrell shares his harrowing experience of suffering a second stroke in June 2023. He recounts the moments leading up to the stroke, the struggle to call for help, and the emergency response that ultimately saved his life. After a thrombectomy procedure, he reflects on his recovery journey and the support from his family and healthcare professionals. Shawn emphasizes the importance of awareness and quick action in medical emergencies, and he invites listeners to share their thoughts on future topics for the podcast.TakeawaysThe realization of having a stroke can be shocking.Immediate help is crucial during a medical emergency.Communication can be challenging when incapacitated.Family support plays a vital role in recovery.Medical professionals can make a significant difference.Awareness of stroke symptoms is essential.Recovery can be a long and challenging process.Surviving a stroke can lead to a new perspective on life.Listener feedback can guide future podcast topics.--------------------------------Email Shawn---------------------------------Dentist Exit Planning Resources:Website: dentistexit.comSchedule a Discovery Meeting with ShawnSign-Up for Dentist Exit Email Newsletter----------------------------------Follow Dentist Exit on Social Media:Facebook Group for DentistsWatch on YouTubeInstagramLinkedInKeywordsstroke, health challenges, recovery, emergency response, personal story, resilience, medical journey, family support, thrombectomy, ICU

SummaryIn this episode, Shawn Terrell shares his personal health journey, detailing the alarming onset of double vision that led to a series of medical evaluations and ultimately a diagnosis of arterial dissection following a small stroke. He recounts the emotional and physical challenges faced during his hospital transfers, the diagnostic process, and the subsequent treatment plan that emphasized recovery through time. Shawn reflects on the experience, highlighting the importance of awareness and timely medical intervention.Sound Bites"I started experiencing double-vision.""I had a small stroke, which sort of blew me away.""No brain tumor, good. Arterial dissection, bad."TakeawaysThe onset of double vision can indicate serious health issues.Emergency medical responses can be critical in health crises.Understanding strokes is essential for timely treatment.Arterial dissections can lead to significant health complications.Recovery from a stroke often requires patience and time.Hospital experiences can be emotionally challenging.Communication with medical professionals is vital during emergencies.Personal health journeys can be unpredictable and frightening.Awareness of symptoms can lead to quicker medical intervention.Support from loved ones is crucial during health challenges.-----------------------------------Dentist Exit Planning Resources:Website: dentistexit.comSchedule a Discovery Meeting with ShawnSign-Up for Dentist Exit Email Newsletter------------------------------------Follow Dentist Exit on Social Media:Facebook Group for DentistsWatch on YouTubeInstagramLinkedIn

SummaryIn this episode of 'Dentists, Puns and Money', host Shawn Terrell returns after a long hiatus due to health issues, specifically two strokes he experienced in June 2023. He discusses his recovery journey and outlines the new format of the podcast, which will focus on solo episodes and the intersection of life and financial planning for dentists. Shawn emphasizes the importance of sharing his personal health story as part of his narrative moving forward, aiming to connect with listeners on a deeper level.TakeawaysShawn Terrell returns to podcasting after a year-long break.He experienced two strokes in June 2023, impacting his life significantly.The podcast will focus on solo episodes for the time being.Future topics will integrate life experiences with financial planning.Shawn aims to share his health journey to connect with listeners.He emphasizes the importance of understanding personal stories in professional contexts.The podcast will now include video content alongside audio.Regularity in podcast releases is a priority moving forward.Shawn wants to weave personal experiences into financial discussions.He expresses gratitude to listeners for their support. Find out more about how our firm helps dentists exiting clinical with tax planning and income optimization by visiting our website, which is dentistexit.com.Dentist Exit Planning Resources:Website: dentistexit.comSchedule a Discovery Meeting with ShawnSign-Up for Dentist Exit Email Newsletter------------------------------------Follow Dentist Exit on Social Media:Facebook Group for DentistsWatch on YouTubeInstagramLinkedInKeywordsdentistry, podcast, financial planning, health journey, personal story, life intersection, near-death experience, solo podcast, podcast format, dentist exit planning

In this episode Dentists, Puns, & Money, we visit with Dr. Jeff Priluck.Dr. Priluck is a semi-retired dentist from the Atlanta, GA area who has chosen to remain active with clinical dentistry, even after selling his private dental practice that he owned for 38 years. He's continued to practice part-time because he loves clinical dentistry. Learn more about his transition into semi-retirement in this episode. Among the topics Dr. Jeff and Shawn discuss: What Dr. Jeff learned during his transition from full-time owner dentist to part-time associate.How Dr. Jeff knew he was was financially-independent from practicing dentistry. How he's handled the physical demands of clinical dentistry for 40-plus years. How Dr. Jeff has put his customer service skills to work in the automotive industry. Plus, Dr. Jeff's joke at the end of our episode is an all-timer: As a reminder, you can get all the information discussed in today’s conversation by visiting our website dentistexit.com and clicking on the Podcast tab.  ----------------------------------------------More information about Dr. Jeff Priluck and this episode:LinkedIn: linkedin.com/in/jeffrey-priluck-3aa51b45/Email: [email protected] Dental Coaching: lolabeescareercoaching.com---------------------------------------------Dentist Exit Planning Resources:Website: dentistexit.comSchedule a Discovery Meeting with ShawnSign-Up for Dentist Exit Email Newsletter--------------------------------------------Follow Dentist Exit on Social Media:Facebook Group for DentistsInstagramLinkedIn

In this episode Dentists, Puns, & Money, we visit with Robert Montgomery III, Esquire.Robert is an attorney with a specialty focus on the legal and business needs of dentists.In 1997, Rob founded Your Dental Lawyer, a boutique law firm based in Philadelphia, and he's been working with dentists ever since. Among the topics Robert and Shawn discuss: The legal considerations for a dentist selling their practice, including the exit paths most commonly taken.The legal documents necessary for a practice transition.How practice real estate factors into the deal. Rob has worked on over a thousand dental deals during his career, ranging from practice start-ups to equity buy-ins and complex practice acquisitions.Rob focuses his practice on the legal and business needs of the firm’s dental clients, advising on practice acquisitionsand sales, practice start-ups and lease negotiations, buy-ins, partnership agreements, employment matters, formingand structuring dental service organizations, operational issues, financing, real estate sales and acquisitions, as well asgeneral corporate and business matters.Rob regularly lectures to audiences across the country and is a frequent speaker for Ideal Practices, a highly regardednational dental practice start-up consulting firm.Rob is also the co-founder and co-host of The Dental Amigos Podcast.As a reminder, you can get all the information discussed in today’s conversation by visiting our website dentistexit.com and clicking on the Podcast tab.  --------------------------------More information about Robert Montgomery III and his dental-related connections:Firm Website: YourDentalLawyer.comConsulting Website: IdealPractices.comPodcast Website: TheDentalAmigos.comInstagram: yourdentallawyerFacebook: facebook.com/dentallawLinkedIn: linkedin.com/in/roberthmontgomeryiii-----------------------------------Dentist Exit Planning Resources:Website: dentistexit.comSchedule a Discovery Meeting with ShawnSign-Up for Dentist Exit Email Newsletter------------------------------------Follow Dentist Exit on Social Media:Facebook Group for DentistsInstagramLinkedIn

Health Savings Accounts don't often attract as much attention as Backdoor Roth IRA's or other tax savings strategies.But HSA's can be a valuable piece of a lifetime tax reduction plan with better understanding and better execution of a long-term contribution and distibrution strategiesIn this episode Dentists, Puns, & Money, Shawn Terrell shares the 13 Things You Might Not Know About Health Savings Accounts.Listen to learn more about:  How to calculate your maximum annual contribution to your HSA, based on your health insurance plan and your age. Why HSA's are often referred to as "triple tax advantage" accounts. How long someone can wait to reimburse themselves for medical expenses from their HSA. Find out more about how our firm helps dentists exiting clinical with tax planning and income optimization by visiting our website, which is dentistexit.com.-----------------------------------Dentist Exit Planning Resources:Website: dentistexit.comSchedule a Discovery Meeting with ShawnSign-Up for Dentist Exit Email Newsletter------------------------------------Follow Dentist Exit on Social Media:Facebook Group for DentistsInstagramLinkedIn

Hemmen and Associates helps dentists extract maximum value and cash flow from their dental practices. The owner and president of the dental brokerage, Tom Hemmen, is the guest on this episode of Dentists, Puns, & Money. Listen to learn more about: How far in advance of a dental practice sale should a valuation be completed.The benefit of updated dental practice valuations during growth years. The benefit of a letter of direction to put a practice on the market quickly in the event of a dentist's change in health. As a reminder, you can get all the information discussed in today’s conversation by visiting our website dentistexit.com and clicking on the Podcast tab. -----------------------------------------More information about Tom Hemmen: Hemmen and Associates Website: hemmenassoc.com Hemmen and Associates Phone: 800-745-1438 ---------------------------------Dentist Exit Planning Resources:Website: dentistexit.comSchedule a Discovery Meeting with ShawnSign-Up for Dentist Exit Email Newsletter--------------------------------Follow Dentist Exit on Social Media:Facebook Group for DentistsInstagramLinkedIn

It's common for dentists to defer clinical and dental practice owner income into a 401(k), Profit Sharing Plan, or IRA during their peak earning years.That's often a wise strategy to lower a dentist's lifetime tax bill.But the IRS won't let a dentist avoid that tax bill forever. Required Minimum Distributions begin at a certain age.If a dentist wants to play the long-term tax game to the best of their ability, it's critical they develop a strategy for RMD's well before they become mandated.In this episode Dentists, Puns, & Money, Shawn Terrell shares some strategies associated with Required Minimum Distributions. Listen to learn more about:  The benefits of planning and formulating RMD strategies. The downsides of being reactive instead of proactive with deferred tax accounts. How to think about the time window for executing RMD strategies. Find out more about how our firm helps dentists exiting clinical with tax planning and income optimization by visiting our website, which is dentistexit.com.-------------------------------To download a free copy of the 2023 Tax Reference Guide, click here. -----------------------------------Dentist Exit Planning Resources:Website: dentistexit.comSchedule a Discovery Meeting with ShawnSign-Up for Dentist Exit Email Newsletter------------------------------------Follow Dentist Exit on Social Media:Facebook Group for DentistsInstagramLinkedIn

Dentists often defer clinical and owner income into a 401(k), Profit Sharing Plan, or IRA during their peak practice years.That's often a wise strategy to lower a dentist's lifetime tax bill.But the IRS won't let a dentist avoid that tax bill forever. That's why its implemented something called Required Minimum Distributions beginning at a certain age.If a dentist wants to play the long-term tax game to the best of their ability, it's critical they understand all the rules associated with RMD's.In this episode Dentists, Puns, & Money, Shawn Terrell shares the 8 Most Frequently Asked Questions related to Required Minimum Distributions. Listen to learn more about:  The age at which RMD's begin.  How to calculate your RMD. The penalty for NOT taking an RMD. Find out more about how our firm helps dentists exiting clinical with tax planning and income optimization by visiting our website, which is dentistexit.com.-------------------------------To download a free copy of the 2023 Tax Reference Guide, click here. -----------------------------------Dentist Exit Planning Resources:Website: dentistexit.comSchedule a Discovery Meeting with ShawnSign-Up for Dentist Exit Email Newsletter------------------------------------Follow Dentist Exit on Social Media:Facebook Group for DentistsInstagramLinkedIn

In this episode Dentists, Puns, & Money, we discuss Direct Indexing as an investment strategy. Please note: This episode was originally released on March 15th. 2023.Many dentists are familiar with the strategy of buying index funds, or indirectly investing in an index. But directly investing in an index is a little different.  We’ll cover three things in this episode:  What’s are the differences between indirectly investing in an index vs. directly investing in an index, fundamentally? What are the benefits of directly investing in an index vs. indirectly investing in an index by buying an index fund? Why is direct indexing becoming available to more people and becoming more popular than it ever has been in the past?As a reminder, you can get all the information discussed in today’s conversation by visiting our website dentistexit.com and clicking on the Podcast tab. --------------------------------------------Dentist Exit Planning Resources:Website: dentistexit.comSchedule a Discovery Meeting with ShawnSign-Up for Dentist Exit Email Newsletter----------------------------------------------Follow Dentist Exit on Social Media:Facebook Group for DentistsInstagramLinkedIn

Dr. Brady Frank suffered a wrist injury when he was a D3 in dental school. It put his clinical dentistry career in jeopardy. So he focused on the business side of being a dentist, and quickly learned how to buy, build, and scale dental practices. Dr. Brady continues to be involved with Dental Service Organizations today, and he joins us to discuss the pros and cons of DSO's on the latest episode of Dentists, Puns, & Money. Listen to learn more about: The big differences between a corporate DSO and an autonomous DSO. How partnering with an autonomous DSO can help a dentist accelerate the timeline of their clinical exit.The nuts and bolts of the compensation structure when partnering with a DSO.As a reminder, you can get all the information discussed in today’s conversation by visiting our website dentistexit.com and clicking on the Podcast tab. -----------------------------------------More information about Dr. Brady Frank:  Freedom Dental Partners Website: freedomdentalpartners.com Become the DSO Website: becomethedso.com ---------------------------------Dentist Exit Planning Resources:Website: dentistexit.comSchedule a Discovery Meeting with ShawnSign-Up for Dentist Exit Email Newsletter--------------------------------Follow Dentist Exit on Social Media:Facebook Group for DentistsInstagramLinkedIn

Dr. Tom Reed is the first to admit he had the wrong mindset when he hired his first associate dentist. But now that he's spent 20-plus years as a private dental practice owner, he has a different perspective.In this episode of Dentists, Puns, & Money, Dr. Reed shares what he's learned about mentorship, and why he believes it's a critical piece of the long-term future of dentistry. Listen to learn more about: The benefits of mentorship in dentistry for both mentor and mentee.The mentorship system he built in his practice to create a symbiotic relationship between owner doc and associate.How mentorship can increase dental practice transition value and also leave a legacy.As a reminder, you can get all the information discussed in today’s conversation by visiting our website dentistexit.com and clicking on the Podcast tab. -----------------------------------------More information about Dr. Tom Reed: Coaching Website: dynamicdentalascension.com Dental Practice Website: citycenterdentalgroup.com Cell Phone: 303-906-4788 Email: [email protected] ---------------------------------Dentist Exit Planning Resources:Website: dentistexit.comSchedule a Discovery Meeting with ShawnSign-Up for Dentist Exit Email Newsletter--------------------------------Follow Dentist Exit on Social Media:Facebook Group for DentistsInstagramLinkedIn

Colin Carr launched his commercial real estate company after seeing the same issue over and over... healthcare professionals getting "manhandled" on deals for their practice space by shady landlords. Carr Healthcare Realty now represents dentists and dental practice tenants and buyers (and other healthcare professionals) all over the United States. In this episode of Dentists, Puns, & Money, Colin shares what he's learned during his two decades working in healthcare commercial real estate.  Listen to learn more about: How dentists can negotiate their lease renewals for lower monthly payments, tenant improvements, and free rent.The key language dental practices should have in the assignability clause of their lease agreement.How a dentist that owns their real estate can achieve maximum value in their practice transition.As a reminder, you can get all the information discussed in today’s conversation by visiting our website dentistexit.com and clicking on the Podcast tab. -----------------------------------------More information about Colin Carr and Carr Healthcare Realty:  Website: www.carr.us Facebook: @CARRHealthcare Instagram: @CARRHealthcare ---------------------------------Dentist Exit Planning Resources:Website: dentistexit.comSchedule a Discovery Meeting with ShawnSign-Up for Dentist Exit Email Newsletter--------------------------------Follow Dentist Exit on Social Media:Facebook Group for DentistsInstagramLinkedIn

What are the big financial pieces for a dentist to organize as they transition out of clinical practice?That’s a question Shawn Terrell was asked by Ken Kaufman (and answered) as a guest on DEO's Growth Secrets Podcast.This episode of Dentists, Puns, & Money is a replay of Shawn's guest appearance on the DEO podcast, which was originally recorded and released in February 2023. The podcast is hosted by Ken Kaufman, who has more than two decades of experience in the dental professional as an author, speaker and as a chief financial officer of various dental organizations. In addition to the big three things dentists should consider about their personal financial planning when exiting clinical, Shawn and Ken also discuss: How a dentist should evaluate a Roth IRA conversion strategy.How a dentist should analyze the options for the profit in their practice. Examples: distribute for personal investments, pay down debt, reinvest in practice, or scale to a DSO?Lightning round questions for Shawn about (mostly) random topics.As a reminder, you can get all the information discussed in today’s conversation by visiting our website dentistexit.com and clicking on the Podcast tab. ---------------------------------Dentist Exit Planning Resources:Website: dentistexit.comSchedule a Discovery Meeting with ShawnSign-Up for Dentist Exit Email Newsletter--------------------------------Follow Dentist Exit on Social Media:Facebook Group for DentistsInstagramLinkedIn

Dr. Alan Stern is a practicing owner dentist and the founder of a coaching business called Better, Richer, Stronger.After 42 years in practice, Dr. Stern is in the process of transitioning from clinical to coaching other dentists.Through his program, Alan works with dentists who want to create a workplace that is productive & profitable and a life that is rewarding and meaningful. In fact, Alan wrote the book, Enjoy the Ride for those who want to get out from the day to day grind and take charge of their roadmap to a better life.As a result of his work, people often share they have more focus, more energy, more momentum and get the resultsthey no longer thought were possible.In this episode Dentists, Puns, & Money, Dr. Alan Stern shares the number one thing he's learned in his career, and how he's approaching phasing out of clinical.As a reminder, you can get all the information discussed in today’s conversation by visiting our website dentistexit.com and clicking on the Podcast tab. -----------------------------------------More information about Dr. Alan Stern:  Facebook Group: Better, Richer, StrongerWebsite: BetterRicherStronger.com ---------------------------------Dentist Exit Planning Resources: Website: dentistexit.comSchedule a Discovery Meeting with ShawnSign-Up for Dentist Exit Email Newsletter--------------------------------Follow Dentist Exit on Social Media:Facebook Group for DentistsInstagramLinkedIn

How should a dentist know if and when to seek professional help with their money?That’s a question Shawn Terrell was asked by Dr. Grace Yum as a guest on the Mommy Dentists in Business Podcast.This episode of Dentists, Puns, & Money is a replay of Shawn's guest appearance on the MDIB Podcast, which was originally recorded in the summer of 2022.Dr. Yum started as a pediatric dentist in Chicago, but has since relocated to California, where she’s currently growing her Mommy Dentists in Business empire.Dr. Grace and Shawn discuss how dentists of all career stages can think about financial planning, and why the most important piece of planning is first helping each dentist identify what they want out of life, broadly speaking.There’s also some casual banter about sports and music mixed in, so proceed with caution if you’re bored by either.As a reminder, you can get all the information discussed in today’s conversation by visiting our website dentistexit.com and clicking on the Podcast tab. ---------------------------------Dentist Exit Planning Resources:Website: dentistexit.comSchedule a Discovery Meeting with ShawnSign-Up for Dentist Exit Email Newsletter--------------------------------Follow Dentist Exit on Social Media:Facebook Group for DentistsInstagramLinkedIn

Dr. Shivani Kamodia Barto is a general dentist, yoga teacher, and wellness coach.Dr. Kamodia Barto put her clinical career on hold not long after dental school. She's using the clinical pause to build a separate business as a wellness coach and yoga instructor. Dr. Kamodia Barto has over ten years and 600 hours of experience teaching yoga asana, facilitating personal-development workshops, hosting wellness retreats, and lecturing on the science of well-being. She completed her 200-hour yoga teacher training in 2012 and graduated from the University of Michigan School of Dentistry in 2018.Dr. Shivani teaches others how to prevent burnout and build stress resilience through nervous system regulation and the practical applications of yoga, meditation, and breathwork. She teaches how to better manage stress through strategies to increase focus and productivity, build impactful habits, and develop a deeper self-understanding.In this episode Dentists, Puns, & Money, Dr. Kamodia Barto shares her story and her strategies. As a reminder, you can get all the information discussed in today’s conversation by visiting our website dentistexit.com and clicking on the Podcast tab. ------------------------------More information about Dr. Shivani Kamodia Barto:  Website: drshivasana.com  Instagram: @dr.shivasana -----------------------------Dentist Exit Planning Resources:Website: dentistexit.comSchedule a Discovery Meeting with ShawnSign-Up for Dentist Exit Email Newsletter-----------------------------Follow Dentist Exit on Social Media:Facebook Group for DentistsInstagramLinkedIn

Ken Kaufman is a sought-after speaker and thought-leader in the dental industry. Ken recently wrote his first book "Financial Secrets to Grow Dental Organizations," and he shares the key takeaways from the book in this interview.He's worked as a CFO and President in several dental organizations over the last 20 years. In that time, he's learned the keys for dentists to grow and scale their practices from one to multiple locations. Ken put all those secrets on paper when he co-wrote his first book, "Financial Secrets to Grow Dental Organizations," which was published in late 2022. In this episode Dentists, Puns, & Money, Ken shares the big takeaways from the book. As a reminder, you can get all the information discussed in today’s conversation by visiting our website dentistexit.com and clicking on the Podcast tab. ------------------------------------More information about Ken Kaufman: Book: Financial Secrets to Grow Dental Organizations LinkedIn: linkedin.com/in/kennethkaufman/  ----------------------------------Dentist Exit Planning Resources:Website: dentistexit.comSchedule a Discovery Meeting with ShawnSign-Up for Dentist Exit Email Newsletter-------------------------------------Follow Dentist Exit on Social Media:Facebook Group for DentistsInstagramLinkedIn

Dr. Karen Tindall and Dr. Laura Schwindt combine their love of people, transformations, and dentistry together in their partnership of The Mint Door. They share their story and how they help other dentists in this episode.Drs. Tindall and Schwindt believe the well-being of dentists and their team members is the key to a successful practice and, more importantly, a happy life.That's why both left clinical practice several years ago to pursue a different calling… providing total well-being programs and coaching for other dentists and their teams.  In this episode Dentists, Puns, & Money, they share their story of transformation. It led to a partnership called The Mint Door to help others like them.Listen in as Dr. Karen and Dr. Laura share how “the achievement trap of dentistry” as they call it, can lead to unhappiness, and also why they believe a healthy practice is a wealthy practice.As a reminder, you can get all the information discussed in today’s conversation by visiting our website dentistexit.com and clicking on the Podcast tab. ------------------------------More information about The Mint Door: Website: themintdoor.net Facebook Group: facebook.com/groups/themintdoorInstagram: @themintdoorclub Podcast: The Mint Door Podcast ----------------------------------Dentist Exit Planning Resources:Website: dentistexit.comSchedule a Discovery Meeting with ShawnSign-Up for Dentist Exit Email Newsletter----------------------------------Follow Dentist Exit on Social Media:Facebook Group for DentistsInstagramLinkedIn

Dentists often defer clinical and owner income into a 401(k), Profit Sharing Plan, or IRA during their peak practice years. That's often a wise strategy to lower a dentist's lifetime tax bill. But the IRS won't let a dentist avoid that tax bill forever. That's why its implemented something called Required Minimum Distributions beginning at a certain age. If a dentist wants to play the long-term tax game to the best of their ability, it's critical they understand all the rules associated with RMD's. In this episode Dentists, Puns, & Money, Shawn Terrell shares the 8 Most Frequently Asked Questions related to Required Minimum Distributions. Listen to learn more about:  The age at which RMD's begin.  How to calculate your RMD. The penalty for NOT taking an RMD. Find out more about how our firm helps dentists exiting clinical with tax planning and income optimization by visiting our website, which is dentistexit.com.-------------------------------To download a free copy of the 2023 Tax Reference Guide, click here. -----------------------------------Dentist Exit Planning Resources:Website: dentistexit.comSchedule a Discovery Meeting with ShawnSign-Up for Dentist Exit Email Newsletter------------------------------------Follow Dentist Exit on Social Media:Facebook Group for DentistsInstagramLinkedIn

How should you think about marketing your dental practice if considering a sale in the next 3-5 years? Grace Rizza, CEO of Identity Dental Marketing discusses that topic in this episode. Grace is the CEO and founder of Identity Dental Marketing. She's guided the growth of more than 1,500 dental practices since founding her company in 2009. Among the topics Grace and Shawn discuss: Why new patient flow matters when it comes time to sell. Branding advice for a dentist practice owner planning to sell in the next 1-5 years. How to market a practice for growth while a dentist is seeking to cut back on hours.Grace is known for her candor and relatable demeanor, and it shines through in this interview. Her speaking style is engaging and lighthearted. In addition, Grace is the host of the Facebook Group and Podcast "Dentistry's Growing with Grace" where she shares businessdevelopment solutions almost daily.As a reminder, you can get all the information discussed in today’s conversation by visiting our website dentistexit.com and clicking on the Podcast tab.  ---------------------------------------More information about Grace Rizza and her work within the dental industry:Company Website: identitydental.com Facebook Group: facebook.com/groups/DentalMarketingWithGrace Podcast: gracerizza.com/podcast -------------------------------------Dentist Exit Planning Resources:Website: dentistexit.comSchedule a Discovery Meeting with ShawnSign-Up for Dentist Exit Email Newsletter----------------------------------------------Follow Dentist Exit on Social Media:Facebook Group for DentistsInstagramLinkedIn

Health Savings Accounts don't often attract as much attention as Backdoor Roth IRA's or other tax savings strategies. But HSA's can be a valuable piece of a lifetime tax reduction plan with better understanding and better execution of a long-term contribution and distibrution strategiesIn this episode Dentists, Puns, & Money, Shawn Terrell shares the 13 Things You Might Not Know About Health Savings Accounts.Listen to learn more about:  How to calculate your maximum annual contribution to your HSA, based on your health insurance plan and your age. Why HSA's are often referred to as "triple tax advantage" accounts. How long someone can wait to reimburse themselves for medical expenses from their HSA. Find out more about how our firm helps dentists exiting clinical with tax planning and income optimization by visiting our website, which is dentistexit.com.-------------------------------To download a free copy of the 2023 Tax Reference Guide, click here. -----------------------------------Dentist Exit Planning Resources:Website: dentistexit.comSchedule a Discovery Meeting with ShawnSign-Up for Dentist Exit Email Newsletter------------------------------------Follow Dentist Exit on Social Media:Facebook Group for DentistsInstagramLinkedIn

In this episode Dentists, Puns, & Money, we visit with Dr. Jeff Priluck.Dr. Priluck is a semi-retired dentist from the Atlanta, GA area who has chosen to remain active with clinical dentistry, even after selling his private dental practice that he owned for 38 years. He's continued to practice part-time because he loves clinical dentistry. Learn more about his transition into semi-retirement in this episode. Among the topics Dr. Jeff and Shawn discuss: What Dr. Jeff learned during his transition from full-time owner dentist to part-time associate.How Dr. Jeff knew he was was financially-independent from practicing dentistry. How he's handled the physical demands of clinical dentistry for 40-plus years. How Dr. Jeff has put his customer service skills to work in the automotive industry. Plus, Dr. Jeff's joke at the end of our episode is an all-timer: As a reminder, you can get all the information discussed in today’s conversation by visiting our website dentistexit.com and clicking on the Podcast tab.  ----------------------------------------------More information about Dr. Jeff Priluck and this episode: LinkedIn: linkedin.com/in/jeffrey-priluck-3aa51b45/Email: [email protected] Dental Coaching: lolabeescareercoaching.com---------------------------------------------Dentist Exit Planning Resources:Website: dentistexit.comSchedule a Discovery Meeting with ShawnSign-Up for Dentist Exit Email Newsletter--------------------------------------------Follow Dentist Exit on Social Media:Facebook Group for DentistsInstagramLinkedIn

In this episode Dentists, Puns, & Money, we discuss Direct Indexing as an investment strategy. Many dentists are familiar with the strategy of buying index funds, or indirectly investing in an index. But directly investing in an index is a little different.  We’ll cover three things in this episode:  What’s are the differences between indirectly investing in an index vs. directly investing in an index, fundamentally? What are the benefits of directly investing in an index vs. indirectly investing in an index by buying an index fund? Why is direct indexing becoming available to more people and becoming more popular than it ever has been in the past?As a reminder, you can get all the information discussed in today’s conversation by visiting our website dentistexit.com and clicking on the Podcast tab. --------------------------------------------Dentist Exit Planning Resources:Website: dentistexit.comSchedule a Discovery Meeting with ShawnSign-Up for Dentist Exit Email Newsletter----------------------------------------------Follow Dentist Exit on Social Media:Facebook Group for DentistsInstagramLinkedIn