Money is Emotional

Let’s test something real quick, read this out loud to yourself: 100,000; $100,000. How did you feel when you added dollars? Money should evoke an emotional response in us. It’s not just a number, and that’s ok. Money is emotional, there’s no avoiding that. According to an article on Forbes, money tends to evoke four different emotions in us: fear, guilt, shame, and envy. Of course, these can all be interrelated, but the most common way we have seen it in people we’ve worked with is a fear of how badly their finances look, and the guilt and shame from not taking steps to fix it. According to Psychology Today, anxiety about money is completely normal, and the best way to fix it is to be dispa

Married to Your Business Partner

Based on things I hear about the dental industry, if a practice is a partnership between two dentists, it’s basically a marriage. The owner’s income is split between the two, and you both make decisions for the practice. As much as I, and I assume you, want to believe the partnership will last, what if one of you dies or you guys get “divorced?” What happens if one of you can no longer perform as a dentist? This applies to all practices, but I’ll just keep using dentistry as an example. We all hate paperwork, but if you and your dental partner are making a big decision, it’s best to have it in writing. Are you going to hand over the practice to the younger partner when you retire? Have it in

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