Dentaltown March 2014 - (Page 41)
finance
feature
by Douglas Carlsen, DDS
In the March 2012 edition of Dentaltown Magazine I looked in
detail at the portfolio of Dr. Will Guess who saw his $1 million in
2000 erode to $300,000 by 2012. A summary of Guess' adventure:
In 2000 Dr. Will Guess, age 45, was on course to retire easily by
2010 at age 55 with $1,000,000 saved. In the late 1990s, a "genius"
Lehman Brothers broker sold Dr. Guess on hot "tech" and "dot com"
stocks. By 2002 Will's portfolio was down to $300,000. He and his
broker retreated entirely from the market. Dr. Guess stayed on the
sidelines until 2006, missing one of the best bull markets of all time.
He got back in with small cap stocks, the darlings of the mid-2000s,
in 2007. Of course, those stocks crashed in 2008. In 2011, after missing the next market run-up, Guess purchased $250,000 of gold. As of
March 2012, Dr. Guess had $300,000 saved, all in a gold bullion
exchange traded fund (GLD).
With an allocation of 100 percent gold and his current yearly savings of $25,000, it was calculated Dr. Guess would need to work
until at least age 73.
Dr. Guess made big changes in 2012 and is back in the game
with a plan to reach retirement before his seventies.
Let's uncover the most powerful weapons a doctor may use to
bolster savings.
Find the Lowest Overall Investment Costs
John Bogle, founder of Vanguard and popular author,
recently related, "After the insanely high costs of management
fees, marketing costs, and turnover costs...over an investment
lifetime one often receives only 30 percent of the market's longterm return."
Thirty percent? This is a travesty! Bogle assumed an investment lifetime of 60 years (age 30 to age 90) and common adviser
fees of 2 precent per year.1
1.
John Bogle: How much do investors lose in charges and management fees? Video at
https://www.youtube.com/watch?v=0aegXd0Q1CI
continued on page 42
dentaltown.com « MARCH 2014
41
https://www.youtube.com/watch?v=0aegXd0Q1CI
http://www.dentaltown.com
Table of Contents for the Digital Edition of Dentaltown March 2014
Dentaltown.com Highlights
Howard Speaks: “Ethical Dilemma” — a Series Kickoff
Professional Courtesy: Happy Birthday to Us!
Continuing Education Update
Start-up Equipment List – Now I’m Lost
Hygienist Doesn’t Want to Use Cavitron on Patients with Infection Disease History
Floorplan Feedback Requested
Honey, I Shrunk the Retirement
How to Manage Your Online Reputation
Corporate Profile: Glidewell Laboratories
Chair Trends 2014
I Hate Love Dentures
Special Lab Section: Communicating with Your Lab
Product Profile: Authentic Dental Lab
Office Visit: Small Town Practice, Big Time Technology
Eight Essential Elements of an Ideal Dental Office Design
Ad Index
Dentaltown Research: Marketing
Small Diameter Implants
In This Section: Implications of Ankyloglossia
Perio Reports
Profile in Oral Health: Breastfeeding and Dentistry: an Important Combination
Dentally Incorrect
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