Why Dentists Should Have (and Max!) a 401(k) Profit Sharing Plan

Nate Williams Investments, Practice Management Leave a Comment

For years we have been advising clients to establish and make the maximum contribution to a Safe Harbor 401(k) Profit Sharing plan. Of course this advice is always tailored to each client’s specific circumstances. Most of our clients have heard this advice enough times from several different sources, that they readily agree to get on board. Recently, however, we were asked to speak at a dental society meeting to a group of 40 dentists and decided to quantify the effects of having a 401k or not. Some of the general benefits of having a 401k include: The ability to setup an automatic savings plan (this is like “auto-flossing” while you sleep). The ability to get a current-year tax deduction at a time when we reasonably think you’re in your high earning and therefore high tax bracket years. The ability to allow the money to grow tax-deferred, meaning no tax on …

Nate WilliamsWhy Dentists Should Have (and Max!) a 401(k) Profit Sharing Plan

How to Avoid the Dark Side of Investment Forecasting

Brian Hanks Investments Leave a Comment

Most of us hate uncertainty. And it’s our dislike of uncertainty that keeps the weather man and economic forecasters employed. But when was the last time you checked your favorite forecaster’s track record before acting on his or her prognostication? Chances are . . . never. Why bother, right? The weather forecaster gets close enough most of the time – so the economics guys on CNBC and in the newspaper are pretty close most of the time, right? They’re paid to be investment forecasters, after all. Wrong. And that belief could be costing you money.

Brian HanksHow to Avoid the Dark Side of Investment Forecasting