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Speaker, Brandon S. Collier, J.D., LL.M., president of Collier & Associates, Inc. will be presenting a course on:
“Taking Charge of Your Practice and Personal Financial Planning-With Particular Focus on Younger Dentists”
This course will teach the basics of financial planning – from learning how to estimate how much it will take to one day retire to, how much will need to be saved each year to get you there, and last but not least, how to actually do
it! These are the things you’d typically pay a financial planner thousands to do for you, and then a portfolio manager much more overtime. Investing is often made to seem difficult, but it doesn’t have to be. These are skills that anyone (who is interested) can learn and apply themselves.
Brandon will pay particular attention to younger doctors, including huge student debt (a big negative) and their longer runway before retirement (an enormous positive). We will discuss whether student debt should be prepaid and how to do it (and how the federal income-driven repayment plans work). In addition, Brandon will address the different options for retirement savings depending on whether you are or are becoming a practice owner or will work primarily in the corporate/DSO setting.
In addition, Brandon will address hot topics in dental practice including why practice ownership is far and away the best long-term economic alternative for a young doctor, digging into the details of a DSO acquisition, and basic steps to maximize practice profitability, including the compounding power of annual fee increases, how to effectively drop PPOs, and the financial benefits of purchasing another practice.
Learning Objectives
- After attending this course, you will understand the basics of personal financial planning, including estimating how much you will eventually need for retirement and how much needs to be saved along the way in order for you to meet your goal.
- You will understand what different investments are, how they work, and when is the right time to invest in them – from cash to fixed income (bonds), stocks, and mutual funds.
- You will understand the different investment vehicles that may or may not be available to you, depending on your facts and circumstances, and when and how to take advantage of their powerful tax benefits, including traditional and Roth IRAs, SIMPLE IRAs, 401(k)/profit sharing plans, and cash balance defined benefit
- You will understand key concepts for practice profit maximization, including periodic fee increases, in-house marketing, when and how to effectively drop PPO plans, and the benefits of acquiring another practice.
Schedule:
- 9:00 am – Registration/Check-In
- 9:30 am – Program Begins
- 11:30 am – Lunch Served During Program 1:30 pm – Program Ends
- “Enjoy the Museum to 5:00 pm”
Fee:
Member Dentists of the Dental Societies (Cincinnati, Columbus, and Dayton) = $90/member Non-Member Dentist = $110 each **** Spouse/Guest = $35/Person
Additional Info:
- Free Parking, Museum Open 9:00 am to 5:00 pm, Free Admission to the Museum.
- CE Hours: Four (4)
Sponsored in part by Advantage Technologies, Cincinnati Insurance Companies, DDS United, Haleon, Hiossen Implants, Kerr Dental, Kuraray Noritake, and US Bank.
About Brandon S. Collier, J.D., LL.M.
Brandon Collier is President of Collier & Associates, Inc., managing partner and practicing attorney of the law firm Collier & Associates Co., L.P.A. Collier & Associates is a 51-year-old firm specializing in representing dentists with practice transitions and providing objective, unbiased advice regarding the business aspects of their practices, law, taxes, insurance, investing and how to live a good life. He is the Editor of the twice-monthly Collier & Associates Newsletter, which for half a century has been providing topical advice and practical ideas to doctors to help them become and retire wealthy. Mr. Collier also conducts Collier & Associates’ popular doctor seminars at top destinations throughout the country, focusing on practice transitions, advanced investing (nothing is sold or promoted, the focus is solely on teaching), and aggressive tax and business planning. He oversees the Collier retirement plan division, which designs and prepares profit sharing, 401(k), and defined benefit plans for hundreds of practices throughout the country.
Mr. Collier has many years of experience consulting with doctors and speaking nationwide as an invited lecturer. He believes in giving back to dentistry and previously served on the Board of Directors of the AAO Foundation (the AAO’s charitable arm) and is a Regent level of the Foundation. Currently he serves on the Visiting Committee of the Case Western Reserve University School of Dentistry. Mr. Collier is a member of the Ohio State Bar Association and the Cleveland Metropolitan Bar Association.
