“My IT returns are filed by my dad’s friend.”
“My mutual funds are being managed by my brother in laws friend.”
I hear this in almost 100% of cases from dentists who haveapproached me for mentoring. These dentists did not have any idea about the value of their portfolio & what are the returns their investments are delivering. Many dentists have a very casual approach towards their investments.
The professionals who manage your affairs cannot be your friends and they must not be so much close enough to you that they do not point out the mistakes in your approach.
Your professional & personal finances need to be proactively managed by sincere professionals who have your interest in mind. You have to sit with the professionals who are managing your finances at least 3 to 4 times a year for a comprehensive review.
Another very important point is that the personal financial life & the professional financial life of dentist cannot be differentiated.
A dentist is a self employed professional. His working life is limited. There is no pension & gratuity. He will have to save for his long retirement years in his limited working years. A practice management consultant will help you to build up a strong retirement fund.
So do not ignore your personal financial life. Your professional finances must revolve around your personal finances.
If your personal finances are in good shape, it will create an aura of confidence around you. This will automatically translate into increased patient conversions. Think it over.
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Thanks and best regards,
Your Sincerely,
Dr. Veerendra Darakh
