ARE YOU HOPING TO RETIRE?
Will you have enough money to live the way you want when you stop working?
If you’re caught up with student loans, managing a practice, working the day-to-day stress of dentistry, and growing your practice to the point where you feel comfortable selling it, how will you ever make time for your own financial future?
1 out of 4 Dentists can retire with a similar standard of living.
The Right Amount
Dentists often wait too long to start saving because they’re focused on paying off school loans and building their practice. By the time they think about saving more, they’ve lost valuable time for their money to grow.
The Right Vehicle
Many dentists put their money into accounts that feel safe but don’t grow enough over time. Without the right strategy, their savings won’t keep up with inflation or support them in retirement.
The Right Goal
Dentists usually don’t have clear financial goals beyond working hard and growing their practice. Without specific retirement targets or a plan to get there, it’s easy to fall short.
People do not plan to fail. People fail to plan.
Less than 1 out of every 4 dentists are able to retire because they aren’t saving enough throughout their career, they are too focused on their practice and are not able to operate the day-to-day function of the business itself. There is no way or time for each individual to gather all of the financial information to be able to make an informed decision for themselves.
Taxes can make it hard to keep the money you earn.
You might pay over $2 million in taxes during your life as a dentist. That’s money you don’t get to keep, even though you worked hard for it. It can feel like no matter how much you earn, a big chunk always disappears. Talk with a Wealth Specialist or use our Free Illustration tool to find out exactly how much you can earn in tax-free retirement vehicles.