Financial Independence

Roger Asks Robert About Saving Money

By Robert Graham, CFM, RFC
President & CEO, RG Capital, LLC

Roger: How can pediatric dentists save more money during the economic comeback?

Robert: Find efficiencies! When you do this, you have the potential to identify income tax savings, drive down costs and lower risk. Smart planning may help you reach your vision and goals. For example, RG Capital uses a process called the Financial Planning Opportunity Maximizer™ when formulating our recommendations for prospective and current clients.

The Financial Planning Opportunity Maximizer™ begins with the following three considerations:

1. Are you paying too much in income taxes? The short answer is maybe. When reviewing your practice and your personal income, an independent financial specialist will consider the practice entity structure (C-Corp, S-Corp, LLC, etc…) and review the prior year’s filing. The purpose is to find opportunities within IRS guidelines.
2. What are you “really” being charged for your investments? From our assessments of new clients’ portfolios, we find that on average dentists and specialists are paying 3% or more in hidden management fees. Performing a thorough cost analysis with the assistance of an independent specialist will detail your opportunities.
3. Are you taking too much risk? Far too often, dentists and specialists are talked into taking more risk than needed to reach their goals. At RG Capital, we consistently find that our dental clients have the opportunity of significantly lowering their risk while maintaining a similar or potentially better total return. By increasing your savings rate—not your risk—you increase the probability of reaching your goals. Reviewing your options today is even more critical in a recovering economy. You may be missing opportunities to increase income due to poor tax planning, high fees or too much risk.

Since 1993, Robert Graham has worked with thousands of dentists and specialists to achieve extraordinary levels of financial structure, performance and productivity. Robert Graham and the team at RG Capital fully understand the unique challenges faced by dentists who are focused on growing their practices.

*This article does not constitute legal or tax advice, nor is it intended to provide specific investment advice. Please consult your legal, tax, and financial advisors if you have questions.