Bridging the Financial Gap For Dentists

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Asset Allocation/Investment Selection

Okay, so you know you are going to have to save some money in order to achieve the various financial goals you have for yourself and your family. So how do you go about choosing the investments to fund your goals? I mentioned early on in this book that there are many different types of investments: stocks, bonds, mutual funds, real estate, as well as others. I also mentioned early on that this book is not designed to help you pick the best stocks. However, I do think it’s important that I at least get you on the right track.

Here’s a real life example of why this is important. My clients, Andrew and Karen, had accumulated a significant investment portfolio by the time I met them. They were trying to figure out whether or not they could afford to retire. After completing their retirement analysis I determined that they needed to earn 6% on their investments in order to accomplish all of their retirement goals. At the time, the vast majority of their investments were in growth-oriented mutual funds. Why? Because that is what their broker told them would provide the greatest long-term return. Well, that’s NOT what they needed! Six percent is what they needed.

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