Tag Archives: money

Fifty… Now What?: Financial Decisions to Make at Fifty

financeMost financial experts advise the young to start planning early, but it’s never too late for the middle-aged to make smart financial moves. Even if you only have about ten years left before retirement age, you can still make the most of your money, protect your assets and sail smoothly ahead.

They say fifty is the new forty. Whether you’re consulting a financial adviser about retirement or with attorneys from firms like assetprotectionatty.com regarding asset protection in Utah, fifty isn’t too late yet.

Think about protecting the assets you spent decades building and the cash flow that comes with your growing assets. Consider what could derail your retirement and take measures to prevent bigger mistakes from happening.

Long-term Care Insurance

Fifty is the best time to purchase a policy. LTC is expensive and the cost keeps going up, so people use insurance to help pay for it. The best time to buy LTC insurance is while you are still young, since it is based on age, and when you are healthy, since pre-existing conditions may affect coverage.

Stick with a policy that has a lifetime benefit so it will continue to pay no matter how long you require care. If cost were an issue, though, financial planners would recommend a 5 – 6 year benefit period instead.

Review Estate Planning Documents

If you’re one of those who had their retirement plans drawn several years back, then good for you. But when you are fifty and nearing its time of significance, it would be smart to review your estate planning documents.

To illustrate, your ex-spouse could still be in charge of your medical care or you two could still share assets and various properties. Consult with professionals for assistance on the transition of names, titles and privileges and the review of your estate planning documents.

Go over your will or trust, bank accounts, and retirement accounts, to confirm every detail is up to date. When you reach fifty, the smartest move is to protect all the miles you already covered and make sure the road ahead is without any bumps.

Growing Your PPO Revenue the Right Way

coinsWhen it comes to generating revenue, your PPO insurance contracts are crucial, regardless of the industry you operate in. This is true whether you are part of a large dental corporation, a single dentist practice or a start-up company.

In-network status with your PPO insurance means you agree to discounts on your established office fees. Negotiating reimbursements is hard work, especially with dentists who do not have connections. In these cases, they will need to enlist a third party provider to help process a higher dental reimbursement rate.

With the cost of business rising each year and your fee schedule reimbursements running low, your margins can shrink. To help with your problem of revenue growth and on expenses, consider these two steps to grow revenue within your PPO contracted practice:

Adjust Your Office Fees

Part of adjusting to the shrinking margins and constantly shifting shape of the business is adapting to the market. A common error across the dental industry occurs when PPO reimbursements remain static and overhead continues to increase. When this happens, net profit decreases. To prevent this, or at least, to cope better, adjust your office fees to a more competitive level.


But of course, it doesn’t stop there. It should follow that after you apply a series of adjustments to your office fees, you also negotiate your fee schedule reimbursements. You can do this on your own or you can consult with specialists of this field for a better and more successful transaction.

There are several solutions to these common problems in relation with reimbursements and revenue here in Utah. Understand that on top of providing your clients with quality service and excellent results, you also need to protect and grow your brand. By negotiating on multiple factors and learning the ins and outs of the industry, you can achieve your goals for your company and community.