Bill Schu

A big part of your retirement planning is anticipating your expenses while in retirement. You can probably envision the activities you’ll most want to pursue once you retire; for many, it’s taking advantage of the time to travel, play golf, volunteer, or join communities of like-minded people. Some of those items cost more than others, but all are relatively easy to estimate and anticipate.

But there are some items that may be more difficult to quantify. Those are the expenses in retirement that may seem to come out of nowhere. If you prepare for retirement with these expenses in mind, you’ll be ready for anything.

 Your lingering connections in the dental industry probably mean you’ll be able to find good ongoing dental care at a reasonable price. But medical expenses may be another thing entirely. Yes, even healthcare professionals like you can be caught off-guard by how much of your retirement income goes into paying for medical expenses. Medicare will cover some basic medical expenses, but as you know from dealing with your own older patients, there are gaps in coverage, including dental care, vision care, and long-term care costs. Also, you need to consider both your own current and future health, and that of your spouse/partner or other family members who may rely on you for help.

As an added step, make sure your life insurance coverage is sound. Consider long-term care insurance, supplemental health insurance, and prescription drug coverage through Medicare Part D. You may never need the extra coverage, but if you’re in a position to put that money away now, you’ll enjoy your long-term good health even more knowing you’re prepared for a worse outcome.

Assistance for children, grandchildren, or elderly parents.

 When you plan for retirement, you may envision a large inheritance from your family or a successful, highly profitable pro sports career for your child helping boost your retirement income. Perhaps more likely, though, is the opposite scenario. As people live longer and longer, there is a chance you may be caring for your older parents, including some of the medical expenses mentioned above. You may also be asked to help out with money towards weddings, first homes, and other expenses from your children and perhaps their children.

There is no quick-fix solution to this potential issue, and no clear way to prepare for these events, but the key here is to put some contingency income into a liquid investment that is still earning interest but is available for a quick cash-out if you need it. As much as you may like to think it is, your dental practice does not meet the definition of a liquid investment. If much of your retirement plan revolves around your practice, you will need some more liquid investments alongside it.

 Chances are, you won’t be blasting out that wall between the kitchen and dining room or adding a new master bedroom suite after you’ve retired. But a home getting a little long in the tooth requires more maintenance than a newer home, including potential expenses in plumbing, a new roof, or a new heating and cooling system. Consider also that even with your added free time, your Bob Vila days may at some point be behind you, and you may be hiring someone else to do even nominal maintenance work.

 contingencies, for sure, but the important part is that you plan for contingencies at all. 

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As you plan for retirement, you'll need to set a series of expectations about what kind of money you'll have and what kind of lifestyle you'll need to fund. However, it's also important to expect the unexpected.

3 Surprise Expenses That Can Derail Your Retirement

As a practicing dentist, you probably recognize the need for dental malpractice insurance. Estimates show that 1 in 10 dentists is likely to face some sort of liability claim over the course of their career. Finding the right insurer and the right policy for you isn’t always easy, but it is a necessary evil, so lets’ take a look at a few things to consider either when establishing a policy for the first time or reviewing what may be a long-held policy. (Please note that this article is for informational purposes only and does not constitute legal guidance.)

Many law and insurance firms across the country advertise their dental malpractice insurance offerings alongside medical malpractice offerings. There’s nothing wrong, in theory, about selecting an insurance company that specializes in both. But the key to the previous sentence is to make sure that dental malpractice is a core component of the insurer’s offerings, and not a side business the company got into because they thought there might be a great deal of intellectual overlap.

The truth is that there is some overlap in terms of the laws governing malpractice versus negligence and similar issues. But dentists face challenges unique to their own profession, and issues, laws, and regulations that are specific to your profession shouldn’t be foreign to the company covering you. Ask the company you’re considering how many other dentists they represent. This will give you not only a general sense of their expertise, but also a picture of the overall stability of the insurance company. Bigger isn’t always better, but a larger number of dental clients can be representative of a stronger, more diverse, more experienced firm. Also ask around to be sure that the insurer knows the specifics of liability law in your state.

Lawsuits can be stressful, serious, and potentially very damaging to your practice, even if the litigation was frivolous or baseless. While there is no way to completely eliminate the risk of ever being sued, risk management programs specifically targeted at dentists can help prepare you and your staff for the kinds of things that most often trigger liability actions. Then, you can put practices and procedures in place to minimize the likelihood of those situations arising, or at the very least being as prepared as possible should litigation develop. For example, keeping great patient records is no assurance that you won’t be the subject of a lawsuit, but it certainly comes in very handy once a suit is initiated. A good risk management program will walk you through common pain points.

The list of variables here is too long to even think about, so let’s just think about a few: Have you added services to your core offerings? Do you have more partners or fewer? Has your patient base grown? Is the economic or legal climate different now than when you established your policy? Have there been any changes to Federal and State Laws regarding dental malpractice? Have any court decisions come about that may necessitate a change in your malpractice coverage?

Chances are that many of these variables have changed since you established your dental malpractice policy. Don’t just assume that the holder of your policy is going to alert you to the changes necessary. Take an active role in making sure your insurance is up-to-date, still reflects your circumstances, and still meets your needs. Like everything else, a good malpractice plan requires some maintenance along the way.

Estimates show that 1 in 10 dentists is likely to face some sort of liability claim over the course of their career. Finding the right insurer and the right policy for you isn't always easy, but it is a necessary evil.

Dental Malpractice Insurance: Things to Consider

Many people are less diligent about pursuing good dental health than they are about their health in general, perhaps due to a lack of appreciation of all the things that can go wrong when dental care inertia sets in. The same can be true for investors: the pain of inertia may not seem so immediate, and can therefore be pretty easily ignored. But just like in the case of dental health, investor inertia can bring significant pain.

You’re a dentist, not a physics professor, so here’s the definition of inertia: “the property of matter by which it retains its state of rest or its velocity along a straight line so long as it is not acted upon by an external force.” For the purposes of the investor, we can go by the common way of thinking about it: an object at rest tends to stay at rest.

When it comes to your retirement investments, are you at rest? Are you putting saving off for tomorrow? A better time? That next raise? Once the dental school debit is paid off or the kids graduate from college?

If so, take a baby step forward. You may find that the corollary to inertia—objects in motion tend to stay in motion—is also true. Let’s get you started.

 Putting aside even a small amount now can be the difference between trying to play catch-up in later years and reaping the rewards of compounding. Compounding is when your savings and investments earn interest, and that gets added to the funds, and then that earns interest. If it sounds like it might be a trivial amount, it’s not. Over time, compounding can really add up.

As you know, attracting a great staff and keeping them happy is one of the keys to the long-term success of any practice. If you run your own practice and are in position to do so, you may consider offering a workplace retirement program. Self-employed individuals and small business proprietors are eligible to contribute to what’s called a simplified employee pension plan—an SEP—which can promote savings for both you and your staff. Best of all, any contribution you make on behalf of your employees is tax-deductible and are excluded from your employees’ gross income. This 

has all the rules to follow when establishing such a plan, as well as the details for getting started.

While it’s wise long-term to max out your retirement plan if you can, and it’s always wise to max out the employer-matching part of any plan, don’t let the perfect be the enemy of the good. Put simply: if you can’t max out right now, don’t let that stop you from saving what you can, when you can.

You may find that once you get in motion, you’ll stay in motion. All it takes is those first few steps.  

Many people are less diligent about pursuing good dental health than they are about their health in general, perhaps due to a lack of appreciation of all the things that can go wrong when dental care inertia sets in. The same can be true for investors.

Don't Let Investor Inertia Wreck Your Retirement

No matter your profession, financial concerns are often front and center. But dentists and other healthcare professionals face some challenges unique to their profession. Dentists, in particular, who often run their own practice or participate in a partnership, share some common fears. Let’s take a look at three of the biggest. While we can’t make you 

 about these legitimate worries, we will offer one reason to fear 

, 13.1% of all professional malpractice claims are filed against dentists. Some of the most common forms of dental malpractice include infections caused by improperly sterilized equipment, failure to diagnose and treat periodontal disease, or the misdiagnosis of a dental condition. Lawsuits can be damaging financially on more than one level, as the hit to your reputation and time spent defending your practice all add up.

No strategy will protect you from all lawsuits, but one of the most important things you can do, aside from having dental malpractice insurance, is to keep patient records that are thorough, clean, and accurate. Clearly record all interactions with your patients, and never change a patient’s record after the fact.

Staffing an office is one of the most difficult and challenging aspects of being a dentist. Administrative staff, hygienists, and dental assistants play a huge role in the overall success of your practice.  In order to avoid fear number 1, each and every member of your staff must be conscientious about cleaning equipment and taking care of patients.

People skills aren’t essential in every career, but they are in your chosen profession. Of course it’s crucial that any candidate must be skilled and knowledgeable, but no matter their qualifications, they must also interact well with your other employees and your patients. Err on the side of retaining personnel who have a good track record with your patients, and if you do need to expand your staff, ask references specifically about their skills and history interacting with others.

For dentists who own their own practice in part or in whole, a big part of your retirement strategy may involve selling the dental practice. Depending on how far away you are from retirement, estimating what your practice may be worth can seem like a pointless exercise. Who knows what the supply of dentists will be then, if competition in your area will have weakened your patient base, or if local demographic or healthcare changes will change the profitability of your practice. Uncertainty often drives fear, and this is certainly the case when it comes to anticipating how much your practice will be worth.

The old cliché about not putting all your eggs in one basket is tired, but it’s true, and simply “watching that basket” won’t necessarily help you avoid the potential changes in the market. Make sure you have a strong retirement investment strategy throughout your career. The earlier you start saving and investing for retirement, the more likely you’ll be to have enough money to retire on regardless of the sale of your practice. Then, if your practice appreciates in value over time, the extra income you’ll earn just as you sail off into your career sunset will all be gravy.

Fear is not unhealthy. Rather than an albatross holding you back, you can use it as motivator to prepare well and avoid pitfalls. Facing these common fears head-on won’t eliminate them altogether, but it can serve as a roadmap to a bright future.

No matter your profession, financial concerns are often front and center. But dentists and other healthcare professionals face some challenges unique to their profession. 

The 3 Biggest Financial Fears Dentists Face

I have spent most of my career as a medical editor. Years ago, attending a healthcare trade show, I discovered on the final day of the event that my name tag, displayed prominently on a lanyard around my neck, read, “Bill Schu, 

.” I did, at least, appreciate the irony.

Professionals in every field make mistakes or fail to recognize the mistakes made by others. But the mistakes we’re going to cover herein aren’t of the “pulled the wrong tooth” variety. These are mistakes in risk management or patient handling procedures that could potentially open you up to litigation. Fortunately, most of these mistakes are highly preventable.

Mistake 1: Failure to keep accurate, complete patient records.

Well-kept charts work better than your memory, and generally work better in court as well. That seems fairly obvious. But what may be less obvious is that the

responsibility for keeping great records is not just your own. As the leader of your practice, it’s important that you stress with your entire staff the need to keep impeccable records.

Particular attention can be paid to be potential problem patients who have constant complaints about current or past care, have shifted from provider to provider, or fail to pay for services in a timely manner. But even for patients who seem like friends, or for patient encounters that seemed to go well, all care provided should be carefully noted and kept with a patient’s chart. Each entry should be timed, dated, and signed by the person adding the note. Outstanding records aren’t a cure-all when it comes to facing litigation, but they can be crucial to a successful defense of you, your practice, and your staff.

Mistake 2: Lack of focus on the patient experience.

Can simple courtesy and attentiveness actually reduce the chances of facing a lawsuit? Yes.  Unhappy patients are much more likely to pursue litigation than patients who like and trust you and your team. Patients who are unhappy with the overall experience of visiting your dental office may already have anger and resentment building up over a seemingly trivial matter such as an extended wait time.

Take every opportunity to engage your patients about their entire experience—not just the level of care they received in the dental chair. Encourage both direct and anonymous feedback through survey cards or your website. Take any complaints seriously and address them directly with the patient if possible, whether it was a problem with the care delivered or even something that may seem trivial. This will not only circumvent some patients’ desire to pursue legal action, it will also make them more likely to return to your practice.

Mistake 3: Failure to properly discharge a patient.

In running any dental practice, it’s pretty standard that some patients who were once regulars may suddenly miss appointments, switch their practice of choice, or otherwise disappear from regular care. For patients who may be difficult or who may have needed ongoing care, it’s important to follow up with the patient and pursue an official discharge of care, if necessary. This has the dual impact of starting the statute of limitations on any future legal action and creating some formal documentation that you are no longer responsible for the patient’s care.

Mistake 4: Failure to refer a patient for a procedure. 

We all like to think of ourselves as experts in many fields, and you may have extensive training in many aspects of dentistry. But you have a comfort zone, too, and only you and perhaps your partners know what it is. Performing procedures outside that comfort zone might open you up to poorer outcomes than you’d like, patient dissatisfaction, and potential claims. Make sure you’re completely comfortable and confident before undertaking any procedure. If you have any hesitation at all, no matter how potentially profitable the work might be, consider referring to a specialist.

Mistakes can prove costly to your practice, particularly when you don't know you're making them. Here are four common mis-steps to avoid.

4 Common Dental Practice Mistakes

Looking forward to a marriage can be a very exciting time. If you’re planning on tying the knot soon, chances are you’ve ironed out the big questions, such as whether or not you plan to have kids, where you will live, and which household chores each of you despise less than all the others.

Getting on the same financial page is important, too. A life partnership means sharing most things, including your financial status, goals, and objectives. These types of issues are much better discussed prior to your pending nuptials, so that there are no misunderstandings down the road. Let’s get you started with a few things to consider.

 of these financial planning articles start at this same point, but there’s a very good reason for it: the budget should be a big part of the foundation for your financial life, even if you’re not necessarily living paycheck to paycheck. In the course of establishing your budget, you’ll go over financial priorities, spending habits, current income and debt, and your retirement goals. You’ll work together to establish who will be responsible for what expenses, and what the expectations are in terms of banking and separation of assets.

Discuss — and Possibly Align – Your Financial Objectives

What’s that “possibly” doing in the subhead? You and your future spouse may go together like peas and carrots, but that doesn’t necessarily mean you share a brain — or a retirement vision. You don’t have to be perfectly aligned, however, to establish some financial objectives that fit both of your hopes and dreams. That means that you can have separate, but complementary approaches to things like saving for retirement and building a contingency fund. You can even have completely different philosophies when it comes to saving and investing. Perhaps your future spouse is younger or otherwise willing to take on more risk for greater potential financial gain. Discussing these types of issues up-front doesn’t have to mean coming to complete agreement on all matters; it’s more about setting expectations and determining how aligned you are, and, thus, how aligned your financial strategies should be.

This is a good time to discuss whether a pre-nuptial agreement is right for your partnership. That topic is a doozy, though, and one we’ll steer clear of for now!

Make Your Plans, Then Put Them Into Motion

Discussing and planning are great and necessary, but whether you are approaching matrimony for the first time or remaining ever-hopeful into your third pairing, the sooner you put your savings and investing plan into action, the better off you’ll be. If your new partner brings a substantial amount of debt, you may want to consider addressing it alongside building your future nest egg. No matter what your new financial situation, always consider the tactic of paying yourself first, a concept we’ll return to in a future column. Basically, that means considering saving for retirement as an “expense” alongside your mortgage and car payment, and paying that “expense” accordingly.

, but the quick summary is that setting aside a portion of your investment income into a contingency fund has a positive overall impact on longer-term savings, because if a situation does arise, you can tap your contingency fund instead of siphoning off other investment income. Contingencies seem to happen more often once you involve a partner — and potentially a family – in the mix.

If you don’t have life insurance yet, or if you have a simple policy that was fine when you were single, consider upgrading or adjusting for a new beneficiary. While you may have some coverage through your employer, particularly if you work in a group practice or a major institution, you may want to consider additional coverage for you and your spouse to be.

All of the issues discussed above — and many more – will require flexibility once you’re linked with another person. That’s part of the deal. Good communication and some flexibility go a long way in taking the potential stress out of join decision-making.

If you're planning to get married soon, you need to take a number of financial steps in order to ensure your union starts off on the right financial footing.

Hearing Wedding Bells? Here's Your Pre-'I Do' To-Do List

As a dentist, you have a lot of tools at your disposal. The mouth mirror is obviously important. The excavators and chisels get the dirty work done. That sickle probe gets a lot of use. But the most important tool to your business, the one you can’t do without if you’re going to be successful, is communication—with your partners, with your staff, and most importantly, with your patients.

Let’s take a look at a few ways that better communications with your patients can help your practice grow.

Actively seek out patient questions and requests.

 Seems obvious, right? But you’d be surprised how often a dentist will breeze into a routine hygiene appointment, do a quick check of the teeth and maybe a scrape or two, and then head immediately off to a more profitable endeavor.

Many patients are reluctant to go to make their dental appointments to begin with, and the environment at the dental office can be intimidating to some. No matter how long you get to spend with each patient, make it impactful. Small talk is fine, but take a moment to see if they have any questions or concerns about their dental health. You may have to lead some patients into it by asking a few questions yourself to get them started. If you make this a regular practice, you’ll find that not only do you have happier patients who are more likely to return, you’ll also likely identify some opportunities for additional business (though this shouldn’t be your primary goal during this communication). It doesn’t take long, but the impression it leaves could make all the difference.

Talk to patients about the importance of preventive care. 

Many of your patients and potential patients will go much longer than they should in between routine maintenance. For most, you’re not going to change that. But once you have a patient in the chair, a gentle reminder about the importance of frequent preventive care is imperative. A word of caution, here, though: Try not to be condescending, don’t fear-monger by showing videos of dental disasters to patients who skipped a check-up or two, and don’t go over the top with a hard up-sell of your services. Most patients will respond better with a gentle prodding than a sales pitch with the subtlety of an anvil.

 We’ve previously outlined the key components that any dental website should have. But beyond those, you’ll need some sort of strategy to communicate with potential new patients before you ever see them face to face. A good place to start is with your face and the faces of the rest of your staff. Post photos of yourself, your dental partner, your staff, and everyone who makes your office run. Your name sounds similar to all the others, and the initials after your name are probably the same, too. Your face is unique.

Make sure that any inquiries that are sent through e-mail or the website are addressed. If someone has taken the time to request additional information online, not getting back to them is a very bad start to a relationship you’d like to foster. Make sure your contact information is everywhere on your website. And make sure you’re properly staffed so that there is always someone available to field calls from current or future patients.

The results of great communication with your patients may not always be easy to quantify. But being a dentist means more than being really good at the clinical aspects of the position. You need to be enough of a people person, too, to add that personal touch. If it’s just not in you, fake it until you make it!

As a dentist, you have a lot of tools at your disposal. But the most important tool to your business, the one you can't do without if you're going to be successful, is communication.

The Most Important Tool in Your Dental Practice

Perhaps you’ve heard the expression, “The perfect is often the enemy of the good.” I’ve found this expression to be true in many of life’s pursuits, including investing for retirement. It is also true for many dentists who know they need a social media strategy but don’t have any idea how to go about developing one. Many simply default to the idea that being absent from social media is a better option than being active in social media marketing, but terrible at it.

Really, how bad could you be at developing a social media strategy? How much harm could you possibly do by being active on Twitter, Facebook, LinkedIn, Yelp, and other social media sites? The answer may lie not in your expertise, but in your commitment and character. Below are some strategies that can contribute to a successful social media experience.

Every dental practice is unique, just as you and every member of your team are unique. This individuality doesn’t easily come across through your name, logo, or dental practice sign outside your practice. But it can through social media. Starting a Facebook page or a Twitter account for your practice is free and deceptively easy. So is illustrating the uniqueness of your practice. Create posts that illustrate the unique personality of your practice. Include willing patients (with express permission only) in pictures or on your feeds. Have a little fun with your posts.

You don’t have to be digitally savvy yourself to capitalize on social media opportunities. All you need is a budding Steve Jobs on your dental staff. Look for someone on your team who has a little interest, possibly a little experience, and most importantly, some enthusiasm for digital communications, and then give that person a little time and some opportunity to create. Just be sure that you have strict guidelines in place that mirror the public image you want to put forth and that you periodically review any posts before they go live, if possible.

I have written previously about ways to make your staff feel invested and valued in your practice. Because social media is all about creating an experience for your patients, the more your staff is involved, the more the personality of your dental practice will shine through. That’s the low-hanging fruit of any social media endeavor; it is particularly important for dentists looking to build not only their patient base, but their community.

In a future article, we’ll look at specific social media strategies for dentists that have worked for other practices. The key message for now is that you don’t have to be a digital or social media savant to have a productive presence in the medium. The same rigor you bring to your dental care doesn’t necessarily have to be applied to your social media strategy. Waiting for the perfect strategy may mean missing significant opportunity in the meantime.

You don't have to be a digital or social media savant to have a productive presence in the medium.

3 Easy Strategies to Start Marketing with Social Media

For dentists and other investors, investments such as lifecycle funds and index funds have opened up a wide variety of investment vehicles that don’t necessarily demand a deep understanding of different terms and principles. But one idea you should familiarize yourself with is the different categories of securities you’re invested in.

If you take a close look at your investment returns, many funds you may be invested in will show a breakdown of your investment funds into different categories that may include “big cap,” “mid cap,” and “small cap” stocks. One might assume that big cap stocks are shares of larger companies, and so on. But while this is mostly true, it doesn’t necessarily correlate to the investment opportunity inherent in each. Having a basic understanding of the terms will help you measure your investment performance and ensure that your actual investments line up with your financial objectives.

“Cap” is simple short-hand for market capitalization, which is determined by multiplying the price of a stock by the number of shares outstanding. This is generally seen as the market’s estimate of the overall value of a company, though it should be noted that publicly traded bonds also impact this value.

These are the large publicly traded companies such as Apple, Microsoft, General Electric, Ford, and Google. Large-cap stocks are often considered “blue chip” stocks, and they are often seen as less risky than small- or mid-cap stocks. This is not always true. While large-cap stocks get much of the attention of the financial coverage, this isn’t because they outnumber small-cap stocks. In fact, the opposite is true. But the behemoths get most of the coverage, in part because their performance drives much of the lucrative investment banking business. Large caps typically have a market capitalization of $15 billion or more.

Small-cap stocks have often been seen as the little engine that could. Due to their low valuations, they are seen as offering potential to grow into big-cap stocks and are the subject of many an investor’s dream. Small caps tend to be less mature businesses that typically have market caps of less than $1 billion.

Mid-cap stocks are the ‘tweeners—those companies with a valuation between $15 billion and $1 billion. There are many companies in this range and a great deal of opportunity for investors. Many analysts and investors consider mid-cap stocks to be a “sweet spot” for long-term investors, because they are typically pretty well established companies that may not necessarily have the explosive growth potential of a small-cap stock, but also don’t bear the risk that those little guys inevitably bring. Yet, these companies may be on the precipice of entering into a period of explosive growth, and they are generally still adaptable enough to anticipate changes in business models and adapt to them. Picture Netflix in 2007, or Amazon in 2005—two companies that were well-established companies still innovative enough to change their revenue models substantially.

As we covered in a previous article on diversification, having a truly diversified investment portfolio means having investments across many investment vehicles and among many categories within each vehicle. Understanding the caps can help you make sure you have a good mix in your stock portfolio—one that balances risk and reward according to your goals.

Having a basic understanding of terms like "small cap" and "large cap" is key if you want to ensure your investments line up with your financial objectives.

Investing: Understanding the 'Caps'

In addition to being a ubiquitous part of everyday life, a sometimes frightening data hoarder, and a chronicler of our lives, Facebook is now using the power of its reach to accumulate research on the patterns of its 1.6 billion active users. That’s billion with a “b.”

 on the spending, saving, and investing habits of those born roughly between 1980 and 2000, a data-heavy White Paper generated by the social media giant finds some interesting trends among this influential group. Targeted to a banking industry desperate to understand the habits of this influential group, the report has some interesting insights about how millennials view their own financial situation and those who wish to provide them with financial services.

Unlike your typical clinical journal research, which includes an exhaustive list of research subjects, the Facebook research simply aggregates information gleaned from posts to the social network site, a January survey of 27,000 users, and personal interviews with millennials. While the documentation of this statistical approach isn’t up to the standards of a clinical study, the results are interesting nonetheless.

Among those findings are some that may upend some of our expectations about this age group. Millennials:

Are cautious and responsible investors, diligent in paying down debt and careful with credit cards

Are very serious about planning for their financial future, but not very confident in how to accomplish this planning

Stand to inherit an estimated $30 trillion from their parents

Are currently entering their peak earning years

Feel disconnected from the financial services industry, which they largely don’t trust

Often turn to social media to seek answers to financial questions

Prefer to pay primarily with cash (vs credit), even among more affluent groups.

Despite knowledge about finances and significant consideration of their financial futures, only a third of the survey respondents say there are happy with the way they are currently saving or investing. Yet more than half (53%) say they have no one to turn to for financial guidance. “Only 36% talk to their parents about money and just 8% trust financial institutions,” note the authors.

If you are a Millennial or are facing some of the same concerns, you should consider the benefits of working with a 

A research report based on Facebook data sheds light on the spending habits and financial practices of young adults.