Overcoming the Obstacles

If nothing else, life is complicated. At this moment in time, I am being faced with challenges and stressors to the likes of which I have never felt before. Unfortunately, right now, I am not at liberty to discuss any details – but perhaps one day. Essentially though, I think everyone is always going through something, right? I mean, the idiom “when life gives you lemons…” is a very popular expression for a reason. First and foremost, I think, time helps heal. Also, some principles from Stoicism have been especially meaningful to me right now – particularly to “recognize what you can and cannot control.” I want to talk today a bit about some actions I have taken lately to help refocus my thoughts, and try to mentally emerge from a crisis in my life.

My wife found me a life coach, that (mind you, I am only a couple sessions in) has introduced me to a heart-focused breathing technique that helps to neutralize my emotional reaction in the moment and reduce the impacts of stress at the time. I imagine this taps into the same powers of relaxation that meditation does for most people that practice it regularly. Again, I have only within the last few weeks started to incorporate some of this into my daily routine but I will say I find my overall mood has calmed and improved when I start to feel overwhelmed. During our sessions, I am actually hooked up to a monitor that tracks the physiologic effect it has on my body, and yeah – just something as simple as a couple minutes of slower, deeper breathing a few times a day can help neutralize depleting emotions.

I have started reading the book “Die with Zero” by Bill Perkins. To be honest, I did not start reading this because of the adverse event in my life, but rather, to try and motivate my youngest son to read more while he was on summer break. So far it has not worked. Nonetheless, I am enjoying the book quite a bit. It reminds me to try and create memories and have enjoyable experiences now versus trying to always accumulate a massive nest egg and focus on saving for the future. The author talks about “memory dividends” and how we derive a lot of happiness from fond memories of those trips and events and activities we participated in years ago.

“Money can buy many things, but it cannot buy time. Invest in experiences, they will last a lifetime.” ~ Bill Perkins

Yet another thing I have been working on, and this very well may come off as a shameless plug, is that I am helping my kids start a YouTube channel. As of this post, we have released three videos here. I would like to see it do well (so please like and subscribe 😛) but I was more interested in it as a bonding experience with them. Together, we are learning a bit about video editing, thumbnail creation, cinematic lighting, etc.. I find working on projects like this a healthy distraction from what may otherwise be moping and sulking in despair about life’s problems. With each video, we look for new ways to improve the quality; whether it is investing in better equipment, incorporating transition effects, researching YouTube’s algorithm and increasing visitors, you name it – there are endless things out there to keep your mind occupied.

I still find exercising to be my saving grace in trying and difficult times. I need to go more often then I do. If this was a post about health, and where I currently am at physically, I would honestly be ashamed of myself. My diet is poor, the Las Vegas summer heat always brings a sense of lethargy, and having horrible events happen in your life just adds to a trifecta that easily leads to depression. It is hard, it is heavy and it takes a lot to just make it through a day. I will end with one more Stoic premise – “you determine your reaction to a crisis.” Wishing you all positive energy, and thank you for taking the time to read this post!

Now or Never

Dentistry, Lifestyle

First off, my sincerest apologies for neglecting to write frequently on this forum. Whether it was business or simply being uninspired, I am sorry for not having made any posts here in a while. As I am practically a week away from my 45th birthday, I felt an inclination to write a bit about updates in my life. Probably the most grandeur of which, is the news that – as of two weeks ago – I gave notice to my dental office that I am leaving. In September of this year (2024), it would have been 10 years working at this office. I have written before on this very blog about why I chose to be an associate versus an owner for so long; however, I have recently come to the realization that there really is a finite amount of time for me to create any kind of lasting legacy for myself. The two original owners of my group cashed out to a private equity (PE) company several years ago. Surprisingly, since then, things have been steady and, dare I say it, slightly improved from how the original owners would run things. The PE company introduced a 401k retirement plan and a generous continuing education allowance that I never really had offered to me before. They addressed some staffing issues, which ultimately made the office busier i.e. more productive. The PE even had the budget to address some of the cosmetic shortcomings within the office, and had a legal team that can handle disputes with the property manager and owner of the aged building we reside within. I know what you’re thinking….so why leave, right?

“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.”
~ Nelson Mandela

Before I address that question, I should say that over the years I have been presented with and declined more than a hand-full of offers to join other groups or start my own venture. In every case, the build-out costs were too exorbitant, or the barrier of entry was too cumbersome for me to consider it viably. I would entertain (even be excited about) the idea of it for several weeks or months, and then ultimately talk myself out of it for being too risky of an endeavor. Each time regressing back to the comforts and stability of my existing associate position.

Perhaps the biggest reason my brain convinced me of is that, the associate position afforded me a comfortable living wage along with ample time with my family. I am blessed with how much time I have with my boys; to go watch them play tennis tournaments, to pick them up from school, to readily take vacations together. There are moments and memories that I am grateful we were able to create because of how cushy my work schedule is/was.

I do not think it would be wise for me to start from scratch. Maybe as a new or recent graduate, sure. I am literally 10 years out of residency training, and I absolutely do not think I have the time/energy/patience to start a new practice from scratch. Real estate costs have increased, supplies are more expensive, staffing have new hire minimum wages, and build-outs of dental offices have historically been ridiculous hard to afford.

So in February of this year, when I casually responded to an Indeed job post in search of a pediatric dentist in the Las Vegas area – I had no idea what would quickly transpire. I first spoke with a recruiter for the group, and informed him right off the top that I was not interested in making a lateral move in my career; that the only position I would entertain should have an equity component included into it. He asked for a little time to take my demands back to the owners of the office(s) and explore whether that was doable. Later that night, the owner texts me to arrange a dinner with his partner, himself, and an operations director within the company.

Come to find out, this group has 9 existing (general) dental offices, and think the future growth is in building up their orthodontic and pediatric components of the practices. The owners seem extremely affable and down-to-earth, and want someone that seems like they’ll work hard to increase the pediatric dentistry presence within the community. They’ve experimented with pediatric dentistry for about a year in one of their locations, but want a (eventual) partner that is a good fit for their team.

This opportunity checks a lot of boxes for me. They have already established themselves and clearly know how to grow a brand and create offices. After a six-month dating period, there is buy-in potential for me to be a partner and have some equity on the table. It has an unique opportunity for me to be a ‘pediatric director’ and eventually oversee the operations of offices versus simply being a workhorse and doing the dentistry one patient at a time (which, don’t get me wrong, I still very much love to do).

This happened so dizzyingly fast. I had a lawyer review the contract, and although quite expensive, offers some peace of mind that my interests are guarded against in the fine print of things. I gave my notice to the group, and plan to serve out a contractual 90 days while they find a new provider to replace me in the practice. Probably the last – and certainly the hardest – task left is breaking it to the staff I have worked with all these years. My existing office crew is filled with quirky, captivating, hard-working women that make going into the office every day so enjoyable for me. When it comes time to break the news, I am sure I will have to fight back tears because of how attached I feel to all of them.

In any case, thank you for taking the time to read this. I think, the older I get, I come to realize that I have lived so much of my life in a bubble of comfort and stability. And, although scary and at times asininely uncomfortable, I think leaving my comfort zone and taking on some (calculated) risks standing to give me some rewards and accomplishments in life that will leave a legacy for myself. Anyone else taken similar risks? I would love to hear about them! Thanks again!

Adulting

Lifestyle

This coming week, I will be turning 44 years old. I have always hated celebrating birthdays – whether it’s my deep-rooted anxiety about getting older, or perhaps it’s my introvertedness and never wanting to be the center of attention – but I will say, this one does not seem so bad. I am usually a roller-coaster of emotions, so tomorrow (or this afternoon) I may feel differently; but right now, in this moment, I have to say I feel rather accepting (almost welcoming) of it.

Where am I at in my life? Married to a beautiful woman and I have two bright, talented boys. I have a job that surrounds me with incredible co-workers, affords me time with my family, and provides me a solid paycheck. Other than some steady hairloss, I am overall pretty healthy and have high aspirations to get into better shape still. I have personal and professional growth opportunities that make the coming year an exciting one for me.

Adulting is stressful and hard. We have bills (and very soon, taxes) to pay and self-care to maintain. We have young people to raise and elderly parents to care for. We have a tremendous number of responsibilities to balance on our plate every day.

What I have found helps my mental health the most is taking care of my physical health. I am starting to control my diet more regularly, take the daily vitamins and supplements my doctor recommends, exercise as often as I can (at least 3-4x weekly), and sleep about 7-8 hours a night.

I think personal development is also critical to help minimize stress. We have to keep growing as individuals and developing new skills. I read blogs daily and am currently on the book “The Millionaire Next Door” by Thomas J. Stanley and William D. Danko. While I don’t have much in the way of hobbies and interests; I get on the tennis court with my kids every chance I get, I try and do an early-morning coffee run with some friends once a month, and my boys and I love playing NHL 23 (Go Knights Go!) on the PS5 together.

While I think its significantly important for people to set goals, I’ll admit I never was very good at it. I encourage my kids to do it all the time; whether it be the grades they want to achieve in school this semester, how many songs they want to learn on the piano this month, etc.. For me, my career goals would basically be to finally open my own practice. I am terrified of having to deal with staffing issues, payroll and HR responsibilities, worrying about supply costs, complying with sterilization standards – basically everything I have been blissfully oblivious to these past nine years that have been somebody else’s concern. What I am learning though, is getting out of that comfort zone mentality and taking on risk is really what makes life worth living.

You made it through another day
You did it, let’s celebrate
~Sia

We have such little time here on Earth. I think as I get older, I think I am coming to realize, don’t sweat the small stuff. Find the people in your life you enjoy keeping company with, set some goals and work arduously towards achieving them, be sure to count your blessings – life is too short! I just wanted to throw a post out there today, sorry if it came off as random. I’ll hopefully be writing again real soon to give updates on my Exercise Expedition as well as sharing some exciting career news! Until then, enjoy your day and thank you for visiting this post!

Uncompensated Risk in Investing

investing, Lifestyle

Since the new year began, my investing portfolio is looking rather basic and boring – and I love it! If you happened upon my last post on tax loss harvesting, you know that towards the end of 2022 I unloaded my position in a lot of hand-picked stocks (where I was in the red) to offset some taxes I was going to be paying from a real estate syndication that cashed out late last year. Truth be told, I have a slight degree of remorse about selling off the several hundreds of shares of Tesla that I owned – as it has rebounded/recovered rather quickly since then. Regardless, essentially, I have nothing but a couple of index funds (i.e. VTI and VXF) and a couple of stocks (i.e. COST and BRK.B) remaining that I stayed profitable in. In that simplicity, I have found I have a lot less stress about the going ons in the market day-to-day, and I feel strongly resolved to stay this course and filter out the noise and temptations of following grifters that make promises of higher returns and unfathomable riches.

As of writing this post, the current rate of inflation in the United States is a 6.4%. Taking on some degree of risk is essential if we hope to grow our money in a way that combats the toll inflation takes on our hard earned dollars. I first learned about the concept of ‘uncompensated risk‘ on the White Coat Investor blog. Basically he says that when we make an investment, a compensated risk will provide us a reasonable expected (but not guaranteed) return. However, in an uncompensated risk scenario, we take on additional risk without an increase (and in many cases, a decrease) in the generated returns.

I do not profess to be an expert at any of this. A disclaimer that I consistently make is to consult professionals for financial advice, as I am a mere pediatric dentist that is trying to figure out his footing on the path to financial independence. I have tripped and stumbled countless times along the way, and fallen flat on my face (e.g. Celsius and the whole crypto fiasco) in many instances as well.

There is a lot that goes into investing that I really only know a small (more like minute) fraction about. Lots of economic indicators and trends to look at e.g. jobs reports and unemployment, consumer confidence indices (CCI), etc. Changes in interest rates, geopolitical events, and macroeconomic factors (e.g. inflation, recession) drive the markets performance. Savvy investors have all kinds of sophisticated software to give them real-time market data, research reports, and analytical tools. And for those people that have the time to commit, the advanced training and education, along with the temperament to endure the volatile nature of the stock market day-to-day; more power to them.

For anyone average like myself; who work for a living, limited hours in the day to commit to much else, just trying to set aside some kind of nest egg for the future – taking on uncompensated risk investments really can be quite a dangerous setback. The key is diversification in your portfolio of investments. I hope we all know by now never to put all your eggs in one basket. The one saving grace for me has been that all my ‘speculative’ investing has been limited to 5-10% of my overall portfolio. My crazy crypto experience with Celsius Network (where potentially I stand to lose everything), my uncertain venture into real estate syndications (which fortunately has partially and profitably paid out) – it’s all been a bit of a wash, but I cap it all within a small percentage of my total asset allocation.

“Invest in what you know…and nothing more.”
Warren Buffet

For those that have read my blog, one of my previous posts talks about my love for watching some late night comedy bits to start my day. There was an interview recently on The Daily Show where Hasan Minhaj debated Kevin O’Leary (from Shark Tank) and essentially called him out on being a (paid) spokesperson for the recently failed FTX crypto exchange. About midway through the interview, Minhaj makes the point (around the 17:45 min mark) that most retail investors would be better off investing in boring Vanguard S&P 500 index funds versus trying to time the market and chase the trends that influencers make us believe was their formula for success. It resonates with me on a personal level since I so foolishly followed the same preaching’s of a similar conman by the name of Alex Mashinsky of the Celsius Network. The other point being that social media nowadays has made it so (dangerously) easy for grifters giving the illusion that millions can be made effortlessly simply by doing as they do.

The performance of the U.S. stock market overall, dating back to the 1920s, has provided an annualized average return of around 11.88% since its 1957 inception (according to Investopedia). After factoring in inflation, it runs somewhere around the 8-9%. That’s pretty darn good. If we put money into any one stock its the equivalent of putting it all on black (my attempt at a roulette metaphor in case you missed it) – that is uncompensated risk. I am willing to designate a small piece of that to certain companies and real estate deals (preferably REITs) that I think may, in the long-term, be worthwhile; but a vast majority of my investing endeavors from here on out will be in the slow and steady S&P500 index funds.

Wishing you all the best in your journey! Thank you all for visiting this site and spending some time to read through this post!

Tax Loss Harvesting

investing, Lifestyle

First off, Happy New Year to you all! When I reflect over the past year, certainly the Celsius crypto scam I endured and a private equity company taking over the office I work at were both big ticket items. While both matters still strike a chord with me, time has helped me not feel quite so overwhelmed by them. In terms of the Celsius fiasco, the Chapter 11 bankruptcy is still underway; but what has helped me cope is giving up on any expectations of seeing any of that money returned to us. The feelings of betrayal, and ignorance, and outright stupidity I once felt for falling for such a con – that has slowly subsided. Since then, yet another big crypto company (FTX) has collapsed; and while I thankfully did not have any money tied up in that embezzlement, I certainly can empathize for those that did. In the new year, I am resolved to return to the traditional, tried and true, much more conservative means of investing.

On the dental practice front, I had explored several partnership and ownership opportunities but ultimately decided to stay put. I talked briefly in a previous post about why I have remained an associate for so long; and at the end of all my recent explorations to find my own office, I realized that the time with my family is more valuable to me then equity in a business. Truth be told, I am still a little nervous about what changes have yet to come. Will I have to clock-in now? Will they start to dictate what supplies we can and cannot order? How soon do they intend on selling our office to an even bigger DSO? As of this new year, they are officially my new employer – so time will tell how tumultuous this transition will truly be. Let’s hope it is not as chaotic as my mind makes it out to be.

This past week, we vacationed with my sister-in-law and her family in their new home in Tampa, Florida. Towards the end of the trip, a few days shy of the new year, I received a call from one of the managing partners of some investment property we did in Arizona a few years ago. To my surprise, she notified me that the property was expected to sell before the end of the year and they had sold for nearly 3x the original amount of our investment. Now there are management, legal and accounting fees that are withdrawn before investors like us are paid out in syndication deals such as these, but still, it was music to my ears to close out an otherwise rough investment year.

As fate would have it, I so happened to be in the house with a Certified Public Accountant (CPA) at the time I received this news. Now, I am a simple W2 employee, with a buy-and-hold investment strategy, who has never inherited any amount of money to where I would need to be concerned about the tax burden on it. However, the profits on this AZ syndication investment would stick me with a 20% long-term capital gains tax rate on that amount.

The concept of ‘tax loss harvesting’ is a tax-planning strategy where you can offset some capital gains with some losses you incurred in the same or other securities. It can be a complex, and fortunately I had a knowledgeable CPA available to me at the time to help walk me through many of the intricacies in implementing this. Since the S&P 500 finished down nearly 20% for the year (2022), and many of my hand-picked stocks (including TSLA, AAPL, NFLX just to name a few) did even worse – I had plenty of stocks to sell (and therefore ‘realize’ losses on) that could help counter my tax liability on the gains I am looking to make from the AZ property.

Even with this tax loss harvesting technique, it comes with rules to abide by so not to void its efficacy with the Internal Revenue Service (IRS). One such rule is called the ‘wash sale rule’. The gist of this rule states that an investor cannot buy a ‘substantially identical security’ within a 30-day period before OR after the sale. For example, I cannot buy any shares of TSLA within the next 30 days, otherwise this eliminates my ability to use that original sales losses for tax purposes.

If you have any interest in this topic whatsoever, please visit the White Coat Investors Tax Loss Harvesting Rules website. He goes into much greater detail and knows significantly more about this topic then I have gleamed within this mere past week.

The only real mistake is the one from which we learn nothing.
– Henry Ford

Another potential route I would love to have explored (if I had more time then just two days) is to consider selling my Celsius claims at a loss. I read an article in the Wall Street Journal that states some customers are selling their bankruptcy claims (at steep discounts) to a broker/buyer (Cherokee Acquisition and XClaim). I already expect to see pennies on the dollar by the time the Chapter 11 bankruptcy concludes, I would have loved to utilize the financial losses this year and just have emotional closure to that whole mess. With such little notice between hearing of the AZ property sale and the end of the year, this was not unfortunately an option I was able to execute.

I am not a financial expert, nor am I qualified to give financial advice. I simply write about my own experiences, and if my ventures into crypto and individual stock picking has taught me anything, it’s that I still have so much to learn about. Hopefully some of the stuff I talk about helps others avoid similar mistakes and come out ahead. Hope everyone is having a good start to their new year!

Private Dental Practice vs. DSO Dominance

Dentistry, Lifestyle

Spoiler alert! This post is ALL about dental talk. You see, for the past several months – since I was notified that the company I work for (for the last seven years of my life mind you) was now under the ownership of a large dental support organization (DSO) – I have been deliberating whether it is time for me to pursue an ownership or partnership arrangement of my own. I have written about this very subject here; however, that was under the (much more ideal) circumstances of being employed by two pediatric dentists and not some massive private equity company that buys up dental offices for investment purposes. While the name of the new owners is irrelevant, their portfolio currently consists of over 250 dental offices across the country and they are continuously growing aggressively.

This business model is not new. In fact, I am sure you have seen many of your local, private-practice physicians selling to private equity companies. As a pediatric dentist that works closely with anesthesiology doctors, I witnessed first-hand when they started to be taken over. Once a large investment firm enters the picture, and really gets its claws into an asset class, you have to believe they are going to streamline the shit out of it in order to drain every last dime of profit out of a business they acquire. In the case of the anesthesiologists I work with; all of a sudden they were forced to work with an expanded lineup of surgeons, taking on more call schedules, learning new systems, performing post-op surveys, and more.

For someone that is close to retiring, some of these DSO offers may not be so bad. I imagine they give a very hefty upfront payout, and after mandating the doctor(s) stay on for ‘x’ amount of years (to ensure minimal attrition occurs), I am sure there is a golden parachute that many people receive on the tail end of the acquisition as well. My bosses both have to stay on four more years, but after which, they can and likely will retire from dentistry forever. Me? on the other hand. As a mere employee, with absolutely no equity stake, I get squat from the buyout and have yet to see how they plan to ‘trim the fat’ (so to speak) within our company. They’re a big company that tries to entice you with a matching 401k plan you can enroll in, some solid health insurance plans you can participate in, and some perks that smaller run organizations may not be able to afford to provide their employees with – but, its the changes in the day to day operations that scare me.

For example, I heard the words ‘production goal’ uttered from my office managers mouth for the first time in seven years last week. She also asked my lead assistant ‘why we ordered so many nitrous oxide tanks’ for our office? Something that has neither changed/increased, nor been scrutinized or questioned, up until this point. The way I see it, they are still in a transitionary period where they do not want to rock the boat (i.e. don’t spook the staff, keep changes to a minimum, etc.) – but certainly, the tides are changing.

While I am grateful that the transition has at least kept me gainfully employed; in the last couple months I have updated my CV, set up a LinkedIn and Indeed profile, arranged lunches with some pediatric dentists around the valley, reached out to dental supply reps and expressed interest in any partnership/ownership opportunities they may be aware of. Out of the five dentists that I reached out to, two recently sold some or all of their practice to a DSO, one is content and is not interested in any arrangement, but two are willing to discuss my coming onboard with some equity stake on the table.

“Success comes from taking the Initiative and following up…Persisting…

What simple action could you take today to produce a new momentum toward Success in your life?
– Tony Robbins

For the last seven years, I have worked for someone else because it has afforded me a comfortable working environment, good pay, a flexible work schedule, and no interference in how I chose to practice clinically. And, I am not a risk-taker. Or, I have been too afraid of failure. Unfortunately, I have come to realize all the time I have worked, was to build up someone else’s brand and valuation.

One of the pediatric dentists I met with recommended a book called “The Millionaire Master Plan” by Roger James Hamilton. He spoke highly of the book, and claimed it would expand my way of thinking and put me quite a few years ahead in terms of wisdom and self-awareness. I am a few chapters in, and so far a good portion of it has been dedicated to helping someone recognize their ‘genius’, their strengths and weaknesses, and talks about expanding on those traits to build your wealth.

For the sake of completeness, I should say that I have also toured a couple of empty, grey-shell office spaces as well. The problem here is that, dental build-outs can be quite costly, plus you have no cash flow for the first several months/years, plus you’re competing against the deep-pocketed DSO’s with their endless marketing dollars and – it really steepens the curve when it comes to opening up a start-up. I also have investigative work to do (with the help of an attorney), to review my existing contract and gauge the enforceability of my non-compete and other restrictive covenant clauses.

My way of thinking is changing. I am now seeking opportunities I would normally be too nervous to pursue. I hope to write again soon to share the results of some of these meetings, and with any luck, announce that I may have new endeavors underway. Thank you for taking the time to read all of this, and sorry to limit it primarily to the dental folk out there. Enjoy your day!

Anxiety and Panic Attacks

Lifestyle

Just to offer you some context, it is exactly 2:26 AM as I sit to write this post. That said, I cannot guarantee any actual coherency or substance in what follows. Writing has always offered me some degree of catharsis and, hopefully, a cure for my current bout of insomnia.

A few weeks ago, I was working in the surgery center when – mid-procedure, my heart started rapidly beating, I had a slight uncomfortable tightness in my chest, and I found I had to take a couple of deep breathes to essentially restore myself to a baseline where I felt normal again. The dentistry was going fine, nothing stress-inducing had happened and it was all very routine-Monday sort of work that I was doing.

I want to say, either the next day or the day after (shame on me for not keeping better records), a similar episode occurred while I was in the office working on a patient for dental treatment. Basically an identical presentation to what happened earlier, a brief couple of minutes where I had a slight aching in my chest, a shortness of breathe and what felt like I was getting tachycardic or having some palpations of my heart muscle – not exactly sure.

Admittedly, this has not been the best year. Most recently, certain members within my household contracted COVID; and so there were health issues amongst family to be worried about. Still a very fresh and extremely agonizing is the financial loss I incurred with my poor Celsius investment. And to pour salt on the wound, the practice I work for recently sold to a large corporate entity – leaving me with a suffocating uncertainty of whether or not to stay employed with the new group or finally take a leap (along with the many headaches and financial investment) of practice ownership.

I already do not manage stress well. My entire life I have lived very phobic of everything; social situations, new endeavors, taking on risk, basically changes of any size or shape. Just today in fact, something as simple as watching my boys play in a tennis tournament this afternoon – I can literally feel my cortisol levels spiking when the game gets close. To the point where I have to walk away, stare into the sky and observe the clouds through the trees, all the while playing calming music in my AirPods. Let me tell you, it makes for a miserable existence.

Doctor Googling the way that we do, tells me a rapid heart rate and chest tightness are commonly associated with Atrial Fibrillation (abnormality in the heart rhythm), panic disorder (panic attack), anxiety, and/or stress. Fortunately, I also saw my actual physician today; who recommended we do 1) an EKG (which I did right there and then – and thankfully, everything looked good according to him) and 2) a CT calcium score (which I plan to schedule soon). An electrocardiogram (ECG or EKG) assesses the heart rate and rhythm; but could be used as a tool to diagnose a possible arrhythmia (irregular heartbeat), blocked arteries, heart damage, failure or even a heart attack. While I did not experience any dizziness or faintness, the chest pain, rapid heartbeat and breathing warranted me getting this done. Apparently, the cardiac CT calcium score (aka coronary calcium scan) will help identify the amount of calcified plaque in my coronary arteries. As he put it, the EKG might be a past indicator of heart healthiness, but this Calcium Scoring may be more of a future indicator of sorts.

Once we have (hopefully) ruled out maybe this being a physical ailment with my heart; the next item on the agenda is to address the psychological element of it. My physician (as I am sure all do) encouraged me to exercise more regularly, incorporate yoga and if need-be, try therapy. No quick Xanax fix I guess.

Throughout my life, the times I have felt my best (both physically and mentally) are always when I exercise regularly. Unfortunately, it is easy to fall into a rut and lose momentum. I really am going to make it a priority now to squeeze in 3 or 4 days a week of a solid exercise regimen, and maybe – just maybe – I can get these panic attacks (?) to subside or disappear altogether.

The boys after their USTA Junior Circuit Tournament

Every post I write, I am always curious to know what others experiences are in this realm. I find my stress and anxiety (and now, panic disorders?) sometimes make it hard to get up in the morning. Other days I feel great, enthusiastic even, and embrace what the world has in store for me. Hopefully a healthy regimen of working out, eating right, yoga and (if need be) therapy get me feeling better. Thank you for taking the time to read this post!

Conquering Change

Dentistry, Lifestyle

Recently, I was made aware that the office I have gainfully been employed at for the past seven years was going to be sold to a larger, private-equity company. One of two owners called me to break the news about the transition, and nonchalantly tried to reassure me that not much should change about the terms of my employment other then who signs my paycheck.

I have never been one to embrace change well. I would almost go so far as to say I fear it.

I see day-to-day change take place in front of me constantly, and I struggle to accept even that. My kids getting older is a prime example. Google Photos reminds me of this day ‘7 years ago’ and I am an emotional wreck. Why do they have to grow up so freaking fast?

Listen, I know, it is a part of life and we cannot control it. Without a doubt, my best days are when I manage to block out the seemingly infinite “what if’s” scenarios that float around in my head. When I somehow silence all that noise that occupies my mental space, my days are much more peaceful and happier.

Years ago, I read a book called “Who Moved My Cheese” by (Patrick) Spencer Johnson. From what I remember, it was a quick enough read with a very simple message. Life moves on, and so should we. “The quicker you let go of old cheese, the sooner you find new cheese.” The author devotes the book to trying to embrace change in work and throughout our lives.

I have worked for enough large DSO’s (Dental Support Organization’s) to know they are not run the same as smaller, privately-owned offices. In an attempt to streamline operations and cut costs (and maximize profits), something’s gotta give – it may impact the quality of dental materials, the staff, the schedule – it could touch on every aspect of the practice.

As a mere associate, I am not privy to the terms of the sale and transition of ownership. Only time will tell what changes will come. The way I see it, at best, my office stays as-is and nothing changes. At worst – the autonomy I have enjoyed in picking out my own materials and setting my own schedule starts to disappear. What would be utterly devastating is if my beloved staff get spooked and decide to quit.

This is the second office now that has been sold out from underneath me. Because I have been just an employee, as the practice changes hands – even though I worked hard to build it up, because I have no equity stake – I reap none of the benefits of its successes throughout this sale taking place. The two original owners (not much older then I am currently) have now paved a pathway for retirement for themselves; and I am but a commodity being sold along with the chairs and other equipment.

On the flip side, I have been compensated well over the years and had I invested more wisely (thanks a lot Celsius Network), I might also in my own right have been on a path towards financial independence. Plus, over the last seven years I have not been burdened by administrative hassles of running this practice – and when the A/C fails, addressing staffing issues, dealing with payroll matters – none of that has really weighed on my shoulders.

“Change happens when the pain of holding on becomes greater than the fear of letting go.”
― Spencer Johnson, Who Moved My Cheese?

How my staff will respond to the new owners, how my pay will be affected, how my patient schedule may change – all of these are unknowns that occupy my mental bandwidth these days. Mixed in with regrets about not building up equity all these years and reaping zero ownership benefits. And do not get me started on the massive financial setback I have incurred with the atrocious investing missteps on the Celsius ordeal.

Lately though, when I am not caught in a moment of self-doubt and insecurity, I am convinced that – however horrendous these last several months may have been – I am more open to taking on the challenges of practice ownership, I am a wiser/more cautious investor, and I am, for the most part, optimistic about what the future has in store for me. I am even finding ways to enjoy my kids getting older and the fun activities I can do with them now versus seven years ago.

Hope you handle change better than I do. Every day I feel I have to convince myself there is light at the end of the tunnel. Thank you for taking the time to read my post today! Please feel free to share with me your own stories of taking on change in your life!

Weather the Storm

investing, Lifestyle

If this blog affords me anything, it is the opportunity to write about the things that occupy my attention. Day after day, since 2022 started, I wearily watch as the stock market plummets and any profits and gains from the last several years get wiped out within a matter of months. Like the gray, rainy weather in Seattle that leads some to experience seasonal affective disorder (SAD); so to can the chronic red and sharp declines in the stock market lead to gloom and mental anguish.

By definition, a correction is a market decline that is more than 10%, but less than 20% off of a recent market high. A bear market is usually defined as a decline of 20% or greater. The S&P 500 index is the overall representation of the market’s performance. There are plenty of other terms (i.e. market dip, crash, etc.) that are pertinent but could just as easily be Investopedia‘d.

Again, graphs like the one above present the performance of the overall S&P 500 Index. If you are like me, and your portfolio is a composite of index funds, stocks and bonds, and other asset classes – you may fare significantly better, catastrophically worse, or somewhere in-between.

Individual stocks are prone to much more volatility. A character on an HBO show rides his Peloton, suffers a heart-attack and dies – causing the stock to sink nearly 12% the next trading day. A large group of traders on the r/WallStreetBets Reddit forum helped drive GameStop’s stock surging up over 400% once upon a time. A misinterpreted tweet by Elon Musk stating to ‘use Signal’ confused investors and sent the wrong stock up soaring over 6300%.

More recently it is the Ukraine and Russia conflict and the question of an impending war? The Federal Reserve and possibility of several interest rate hikes? Certainly economy-related concerns but also lots of other miscellaneous events and outside influences can spook investors and cause the fear that lead to sharp market declines and panic selling.

Probably a totally irrational skepticism on my part – but I think the news media has manipulation tactics and selectively seeds content, stock analysts have their own obvious biases and agenda, and of course corrupt politicians have access to insider information that allow them the ability to execute privileged and personally advantageous trades. It is hard to find trustworthy sources to believe. Just my opinion.

In a past blog, I briefly introduced a bit about my investing approach. Certainly trying times like these test our conviction. Lots of different investment philosophies exist – each with their own strengths and weaknesses. I subscribe to a philosophy known as Dollar-Cost Averaging (DCA). You can read about it a bit more here, but essentially you put same amount of money in the same stock (or index fund, etc.) on a regular basis over time, regardless of the share price.

“Our favorite holding period is forever.”
– Warren Buffett

In terms of personal investing, the February-March 2020 bear market was the only one I have actually had to endure. Before that, I was dirt broke and too busy suffering through dental school and multiple residency programs. Even though I know many others are experiencing these same tribulations right now, there is a unexplainable loneliness and depression that sets in when you see these steep market declines. I used Vanguard’s financial advisor services for a short while, and while I ultimately decided to stop and take things into my own hands, I did appreciate that I was not constantly worrying about how the markets were doing.

I dare not try and predict where the bottom of this latest market crash will be. However, I find some solace in knowing, if we stay the course and weather this storm, the market will do what it historically has – deliver some dependable returns.

In a future post, I will go over a few other investment strategies I do to minimize risk, including: invest in syndication real estate deals, invest in REITs and rental properties, and more recently – dare I say it – cryptocurrencies. Diversification is the name of the game!?

As always, thank you for taking the time to read through this post. Hope that some of this information can be useful to you, and please feel free to share in your own experiences!

The Tennis Takeover

Lifestyle

About a year before the world knew of COVID-19, my wife and I enrolled our two young boys in a local community tennis program. They had briefly tried their hands (or feet, rather) at soccer before that; but their scrawny physiques could not handle the endurance needed to continuously run the length of the soccer field. As their enthusiasm in soccer seemed to wane a bit, we made the decision to give something else a try.

Introducing tennis to them during COVID-19 was quite a blessing. It was naturally socially-distanced, much less of a contact sport then soccer was, and it was just enough of an outdoor social activity in a time when home-schooling was mandated and kids really stopped seeing their friends regularly.

The city’s park and recreation tennis class we had them in was short lived. The teacher was an older gentleman that showed up late, used most of the class time to ask the kids what they ate for lunch, and spent a disproportionately little amount of time letting them hold a racquet, instructing them about the rules and scoring of the game, and teaching them proper form.

It did however, allow us to be out on tennis courts. And that was huge. Because just being outdoors gave us an opportunity to see other coaches on neighboring courts teaching young kids. Now, most of the tennis greats of the world were holding racquets and started playing the game by ages 3 or 4. My kids were about 10 and 6. Oops. Oh well, better late then never?

“Do not squander time, for that’s the stuff life is made of.”
Benjamin Franklin

As I saw coaches that I thought had impressive teaching styles, I would approach them and inquire about lessons for my own kids. At one point, my boys had lessons from three different instructors and were spending about 1 to 2 hours out on the courts every day of the week. One day, my oldest son told me that the way one coach wanted him to serve was a different technique then another coach; and asked me who he should listen to?

At first, I thought I was doing them a favor recruiting all these accomplished trainers. One coach had almost gone pro himself. Another taught university level men’s tennis. Still another had such infectious passion for the game; and not only taught form and technique but focused on and spoke to the mental acuity and emotional stability needed to really succeed at it.

As it turns out, the coach that once told me “it’s not good to have too many voices in their heads” is the last one standing. He hosts a clinic a couple times a week, and offers private lessons on weekends that we sometimes take advantage of. He’s the right amount of strict/stern, pushes the boys to advance their game, encourages them to always be ready, to strategize the placement of their shots, and has really done well to teach them the intricacies of the game.

My wife and I went on to the U.S. Tennis Associations (USTA.com) website late last year and inquired about tennis tournaments our boys could participate in. Since then, they’ve played in several and have faired better in some then others. Our oldest son, Ishaan (12 yo), is mentally confident going into matches and just has a tendency of making unforced errors. Our youngest, Krish (8 yo), has an impressive passion and skill, but struggles a bit with nerves and believing in his abilities.

Part of the reason we wanted them to enter tournaments is to desensitize them to being in competitions. It is one thing to leisurely play against your sibling, against kids in your class, etc.; but it is a totally different dynamic when you are in a match against a stranger, you are officially keeping score, and there are rankings and trophies on the line.

We want them to learn responsibility; to eat a good healthy breakfast, get a good night sleep, and to get their tennis bag ready the night before a competition. We want to have them figure out how to cope with losses, and learn from mistakes they make within their matches. We try to reward them, win or lose, by letting them decide what they want for dinner or picking the dessert of their choice.

Tennis has, in many ways, taken over our lives. I absolutely love that my kids ask if we can go play tennis at the park on the days when they do not have lessons with their coach (and even some days when they do). I love that they want to watch tennis highlights of Nadal and Djokovic and Federer playing. I love that they now coach and correct me on how to properly grip a backhand or toss my serve.

Honestly, it has been an expensive hobby. Tennis shoes and attire, racquets (not to mention restringing) and balls, lesson (both clinic and private) – it adds up very quickly. I can only hope this is a lifelong passion of theirs, and that they go on and teach their own children to love and be good at the game.

The truth is, I secretly want them to be champions of this sport. I want them to progress, work hard, and potentially turn this into something professional if they can. But if they lose interest, want to explore other passions, that is okay too. I do not ever want to be the parent that forces their child to fulfill my own desire for stardom and success.

Thank you for taking the time to read this post! And spending time on my blog. As with so many topics that I discuss (investing, dentistry, medical issues, etc.), this will likely be the first of many posts about this matter. If you have any questions, or suggestions, I would love to hear from you! Be well!