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Providing independent financial education to dentists, Dr. Carlsen's no-nonsense approach to both practice and personal finance has garnered acclaim from dentists young and old. His easy to implement concepts enable both new and seasoned dentists to realize their dream of professional and financial fulfillment. Learn more about Dr. Carlsen's speaking programs.
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Douglas Carlsen, DDS, has provided independent financial education to dentists since retiring from his practice in 2004 at age 53. Carlsen writes regular financial columns for Dentaltown Magazine, as well as state and local journals. His company, Golich Carlsen,an approved AGD PACE organization, delivers common-sense consulting, efficient and affordable lectures, and smart CE products---all backed by academic research.
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Letter Number 16 April 10 , 2011
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Readership is up 25% since the last newsletter! I'll keep the video format of the newsletter with video comments from me each issue.
I also sent out a nine-minute retirement video two weeks ago to all readers. It's still being forwarded, two weeks later. Thanks so much for the positive response and forwarding to other doctors. It's included here for those that haven't viewed yet. Please email or call me for questions. I've had over 200 docs view with over 50 emails. Yes, I answer them all!
It can be forwarded easily to dental friends by copy and paste of the URL of http://youtu.be/71wJy_EO6BI . You can view directly by clicking on the video below.
Please provide feedback, positive or negative, on the videos and comments. I'm at drcarlsen@gmail.com.
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The Dentist's Retirement Number in 9 Minutes Click on the photo above to see a 9 minute video. Dentist Bottom Line: This is a simplification of a portion of the course I give couples on retirement. It provides the basic methodology for finding your current income, and what you will most likely need to have saved for retirement out to age 95.
How much do you need for retirement? Find out in nine minutes!
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Your Brain vs. Your Portfolio
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Jason Zweig, neurofinance guru and author of the popular Your Money and Your Brain book, describes how to control your worst investing instincts.
Watching this video convinced me to buy the above book.
Dentist Bottom Line:
Listen to Zweig's comments on fear at the 5:30 mark. It's critical.
Can you make money trading against "moron investors' stupid mistakes?" People with high IQs do not perform better at investing than those with average intelligence.
Learn about your own irrationalities. When does one sell? If you find yourself with an investment with a large downturn and need help, you've already lost, according to Zweig. The key is to have emotional detachment before purchasing anything with knowledge of the worst case scenario and what you will do.
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Crisis Looms for Housing?
5 minute video.
Mortimer Zuckerman talks with Bloomberg's Margaret Brennan about the outlook for the housing market and the impact on the U.S. economy.
Dentist Bottom Line: Zuckerman says shadow inventory still affects over 5 million homes with an average 25%+ loss in value. Government programs haven't helped over the last five years.
Zuckerman sees a burgeoning crisis looming with government leaders now spending almost all their time working on health care. He would like the government to intervene to protect the economy from further huge bank write-downs, further price reductions, and economic crisis.
In other words, don't believe all you hear from your local real estate agent. We're far from being done with the mortgage crisis. Is the bottom here? I see no definitive sign yet.
Is it a good time to buy? Maybe, yet there is no hard evidence prices will be higher in the next three years, and many predict further settling.
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S&P 500 Due for a Correction?
2 minute video Click on the logo above to hear Carter Worth of Oppenheimer offer stats and thoughts on 2012's possible "go away in May" scenario.
Dentist Bottom Line: Since 1928 the S&P 500 has followed positive first quarter growth with second quarter growth 2/3 of the time. This year? Worth provides technical indicators showing that we are overdue for a 4%+ correction. But Worth also shows many 4%+ downturns during the current three-year bull market. If you're a trader, watch out.
If you're an investor, stay the course.
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To access additional Carlsen Dentaltown Magazine articles, click on the image below.
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To access the Newsletter archives, click on the image.
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