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Press Featuring Dr. David Phelps
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Articles Written by Dr. David Phelps
Dentistry Today: Is Your Financial Future Stuck In The 401K Trap?
It’s time to take control of your hard-earned retirement income
Have you been sold the benefits of a 401(k) after being faced with a painful tax bill in the first few years of practice ownership?
After years of grinding it out in dental school, followed by the hard work of building/acquiring a private practice, you receive a well-deserved income. But then, you realize just how much of that income the government feels entitled to take (a topic for another day)…
Dental Economics: How to Keep Inflation from Destroying Your Future
We’ve seen disinflation and historically low-interest rates for the last 40 years. And now, the devaluation of the dollar, or inflation, is back for the first time in a generation and a half and is expected to grow. According to Forbes, “On an annual basis, CPI was up 8.3% in August over the prior 12 months, disappointing expectations for an 8% figure. While that’s an improvement from July’s annualized 8.5% gain, it remains very high.”…
TheProfitableDentist.com: How Much Is Enough?
One of the primary reasons that dentists keep their nose to the grindstone long after they are ready to be “free” from the practice, is that they don’t know how much is enough. “Do I have enough money, investments, or assets to last me the rest of my life after I stop working?”
How much is enough?
Entrepreneur.com: Everything You Know About Your 401(k) is Wrong. Here’s Why and What You Should Do About It
We all need to take control of our financial future is, but it’s not enough to just save money. It’s critical that we make the right choices based on accurate information.
Retirement savings is crucial for everyone, because relying on Social Security is not enough to sustain yourself through your twilight years, especially considering that without any changes, the current Social Security system will only be able to pay benefits at 80% in 2035 and beyond. And the sooner you start, the better off you are.
Inman.com: 4 types of real estate investors (and how to best serve them)
In an upmarket, you’ll often find a lot more “investors,” but many will be newbies, DIYers and gamblers. Money seeks investment yield, and real estate is highly sought after when it’s up.
When the market corrects, it will push many of those avatars out of the investment market, and only the professionals will remain. But that’s is a double-edged sword. It gives you a better perspective client, but it also requires you to provide more value from the get-go.
Entrepreneur.com: Here’s How Small Businesses Can Survive the Post-Pandemic Economy
The last two years have been especially difficult for small business. The good news is that it’s made many entrepreneurs smarter, stronger and more adaptable. The bad news, though, is that difficult times are just getting started. Surviving and thriving in the coming years will require entrepreneurs to demonstrate grit and an ability to adapt quickly and implement the right strategies.
