Accumulating Wealth

Americans have shown resilience these last few years. Despite record-high inflation and a rocky economic climate, the How America Saves Report 2023 reveals that people have navigated the landscape better than expected. Over 25% of Americans contributed more than 10% of their income to their retirement savings. But what's the median savings rate? The guys dive into this number and detail other record highs in Americans' savings, so sit back and listen because you might be in for a surprise.

LINKS:Vanguard Institutional How America Saves Report 2023

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Tapping into your full hygiene potential could make all the difference on your bottom line. In fact, a practice with a couple of full-time hygienists could see upwards of 33-35% production from hygiene alone. Bringing 20+ years of hygiene and practice administrator experience to the show, CEO & Founder of Inspired Hygiene Rachel Wall details how her team helps dental practices get the entire team on the same page to elevate the hygiene department, its services, systems, and ultimately profitability.

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Guest CEO of Inspired Hygiene, Rachel Wall

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Sometimes, insurance can seem like more trouble than it's worth. Is there a breaking point where dentists need to stop trying to negotiate and just move on? And where do you even begin? Closing out this series on insurance, the guys sit down with Dr. John Carson, who shares his experience with dropping an insurance plan that 50% of his patient base was on.

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Guest Dr. John Carson

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To negotiate or not to negotiate. There are many what-ifs to consider when negotiating insurance plans, from breaking the news to your patients to protecting your fees. That's why we brought in Ben Tuinei, who makes it his everyday mission to help dentists negotiate better payment terms for insurance plans so that insurance isn't driving daily decisions for your practice.

When it comes to what insurance your dental practice accepts, this is often a massive decision that must consider the demographics of patients in your area. The plans you accept can either help attract new patients or cost you others. Not to mention, most doctors avoid looking at insurance's impact on the practice, so this week, the guys break down the criteria on what practice owners should examine in terms of reimbursements and the insurance offerings of your practice.

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You've heard time and time again that the Secure Act 2.0 brought major reform to longstanding retirement planning, and with the help of a special guest, the guys will tie a bow on this miniseries. This week, they're also discussing a valuable vehicle for college savings, new challenges with estate planning, and the new required minimum distribution age extension and penalties.

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Would you like ketchup with that? The Secure Act 2.0 pours on the opportunities to increase Americans' financial readiness for retirement, and with that comes higher catch-up contributions indexed for inflation. For high-income earners, even bigger changes with a new "rothification" rule. Adding to the list, SIMPLE and SEP IRAs have new Roth options available, and the guys are here to clarify it all. Lastly, have you heard of lost 401(k) accounts? The guys are here to hunt them down with you in the latest episode.

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If someone mentioned that the Setting Every Community Up for Retirement Enhancement (SECURE) Act could help your business, it might sound like just another ridiculous sales pitch. However, this piece of legislation is here to stay. With the help of a special guest, the guys discuss how its provisions aren't just for individuals seeking to boost their nest eggs and actually contain many changes for business owners. Tune into the episode to learn how the provisions are designed to increase savings, lower employers' cost of offering and funding, and, most importantly, the dates on any action items.

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For the guys, Beyonce, Fed rate hikes, tax refunds, and college savings are all on the list of topics this week. When it comes to saving for tomorrow and the next 25 years, it can be tricky to know which account deserves your undivided attention. The guys dish on which accounts need a little extra love to fuel the future you've dreamed of. And when it comes to the tax refund you're waiting to get back, the guys discuss the steps you can take to make that extra money work for you.

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Shopping for a house in today's high-interest environment seems like a competitive sport, and you're not alone. Many housing factors are sounding the alarm, but the guy's thoughts on whether to buy now may surprise you. To close out the episode, they also expand on employees working out of state and whether IndexGPT, the A.I. stock picker, could be the next trend or fad.

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