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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 23 November 28, 2012
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Fiscal Cliff, Fiscal Cliff. When will it all end? The political posturing continues unabated. I think this is worse than getting all those crappy phone calls to support whomever before the election. I live in a swing-state, Colorado, and it was incredibly irritating from Labor Day until Election Day. If you didn't look at my Fiscal Cliff video, click on the red letters, and you'll get an idea of what dentists are up against. And finally, after seven years of searching, I've found an investment group that has a sound philosophy and doesn't charge the typical 0.75% to 2% fees. Doug C.
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Finally, A Financial Investment Firm I Can Recommend!
After years of searching, I finally found an investment advisory firm that has low fees, a great web site, and proper investment strategy. It's called Wealthfront. Click on the name to go to the site. The company is in Silicon Valley and is catering to the young geeks of Facebook, Google, Apple, etc.
Please note that I have no financial connection with any individual or company. Never have, never will.
Dentist Bottom Line: Wealthfront charges only 0.25% per year fee to manage, the lowest I've seen. Or, you can design a do-it-yourself portfolio using their easy planning software in about 4 minutes. It's free!
With each forward of this newsletter, you help keep private practice alive.
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Over the Cliff Good for Both Sides?
3.5 minute video
Andrew Freidman provides interesting insight as to why both Republicans and Democrats can save face by not coming up with a plan to go over the Cliff before January 1, 2013.
Bottom Line: The Democrats refuse to touch Medicare benefits, the Republicans are still held to Norquist's Pledge to never raise taxes. Freidman tells us how waiting until January to act makes sense for both sides, and I think he may be spot-on!
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Asset allocation: How much money should be in stocks, bonds, etc.?
2 minute video Brokamp provides good basic insight as to your mix of stocks and bonds. Dentist's Bottom Line: Young doctors: How much risk can you really tolerate? Many young investors freaked at the losses of 2008 even though the losses were temporary. If you did, maybe you shouldn't have 80%-90% in stocks. Doctors at or near retirement: How much stock exposure should you have? John Bogle says to have your bond percent match your age. Is this prudent in your situation? |
Three Biggest Money Mistakes
4 minute video
Terry Savage, financial writer for the Chicago Sun Times, and personally one of my favorite financial gurus, provides the biggest blunders we make with money.
Dentist Bottom Line:
#1: Eyes closed. Look at your statements with your spouse regularly.
#2: Stubbornness. Be open to change. If you don't like the way things are, it's OK to change.
#3: Emotion. IQ loses to fear every time! |
The Ultimate Dental Office Tour
4 minute video
Classic! Whitensville Family Dentistry does it right.
Dentist Bottom Line: Jason Tubo DMD has a sense of humor and a great website at www.drtubo.com. All the pertinent information is there in totally legible form.
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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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