A peer-reviewed journal that offers evidence-based clinical information and continuing education for dentists.


Podcast

Everything a Dentist Needs to Know about Financial Planning

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Dentists, like other professionals, should develop a solid financial plan to build wealth and prepare for retirement. Planning for financial independence while building their dental practice is an issue that concerns dentists at all stages of their career, whether they’re just starting out, growing to multiple locations, or preparing to sell their practice in preparation for retirement. Developing a financial plan with the guidance of a team of professional advisors helps them meet their unique current and future goals while allowing the plan to evolve throughout various life stages.

In this episode of The Art of Dental Finance and Management podcast, Art meets with Ryan Weigel, CPA, CFP and Zachary Schnitzler, CEPA, CLCS of Eide Bailly Financial Services about the financial planning process for dentists. Ryan and Zachary emphasize why financial plans are so important, major pitfalls to avoid (typically, not having any financial plan), as well as what steps dentists can take to ensure success. They also discuss some of the essential elements of a solid financial plan:

  • Budgeting
  • Debt reduction
  • Student loans
  • Retirement savings
  • Insurance coverage
  • Children’s education
  • Estate planning

Serving dental professionals for 35 years, Art Wiederman, CPA, is director of dental practices for Eide Bailly, one of the nation’s leading CPA firms. With special expertise in dental practice metrics and benchmarks, he oversees a variety of services, including accounting, tax and financial planning, retirement planning, and financial practice management. In addition to his podcast, Wiederman lectures nationally on dental accounting and financial management. He can be reached at awiederman@eidebailly.com.


Since 2009, Ryan has been providing public accounting services to a variety of industries including agriculture, agricultural cooperatives, lodging, personal and small businesses. Ryan provides financial planning services that include covering cash flow analysis, education planning, insurance and risk analysis, retirement planning and asset allocation. When working with Ryan, clients can expect to feel understood. He brings trust and honesty to each relationship and works hard to foster those qualities as the relationship grows. In his free time, Ryan's top priority is spending time with his wife and two sons whether taking leisure walks or playing at the park. Aside from that Ryan is an avid golfer and tries to make it out to the course two to three times a week in the summer. In the fall you can find him pheasant hunting or enjoying the quiet of the woods while archery deer hunting.


Zach Schnitzler specializes in insurance planning, employee retention solutions, planning for the purchase or sale of a business, succession planning and estate planning. Zach brings a consultative approach that helps clients clearly identify goals to arrive at solutions. Planning is very specialized to business owners and high net worth individuals. Zach's interactions with them every day have brought deep understanding of needs that can be significantly complex. Outside of work, Zach enjoys spending time with his wife, Taylor, two children, Soren and Sam, and their dog , Zodi. You'll find his family doing many things the outdoors has to offer: golf, swimming at the pool and going for long walks.


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