Retiring from Dentistry are You Ready for It? - Blatchford Solutions
The Difficult Patient and How to Handle Them in Your Office
March 18, 2019
dental_coach_Blatchford Solutions
A Dental Coach for Practicing Dentists
March 25, 2019

Retiring from Dentistry are You Ready for It?

Are you thinking about retiring from dentistry? Do you have enough in your reserves to live the life you are accustomed to? You may be shaking your head yes, but if you are living above your means, the answer is probably no.

retiring from dentistry

Your lifestyle plays a huge role in your retirement. Dentistry allows you to buy homes and luxury cars, but like any profession, affluence could get in the way.

If you are enjoying weekends with the top down on your way to the country club, chances are there isn’t much going into your retirement account.

Retiring From Dentistry Takes Planning

A solid savings plan is essential for retirement. Retiring from dentistry means saving, whether you plan to retire in five years, or have no intention of calling it quits for at least a decade. When you plan now you won’t look back in 20 years saying if only I had planned my retirement earlier.

Saving takes discipline. Do you really need that new toy? If you have extra money, wouldn’t it be better to put it back into your dental practice? Purchasing a CEREC© system would bring in much more than that vintage Porsche you’ve had your eye on.

What Assets Have You Acquired?

If you are counting your boats, cars and off road toys as assets, you had better factor depreciation into the equation. That new Land Rover lost value the minute you drove it off the lot. You may have thought purchasing the vehicle was better for investment purposes when in reality a lease would have probably made more sense. When you lease a vehicle, you can write it off.

retiring from dentistry

If you are playing Monopoly acquiring as many properties as you can for retirement, are you being cautious? The property market is volatile and if you need to sell your property when the market is down, it will hurt your financial portfolio. Your assets could end up being liabilities if you aren’t careful.

When Are You Retiring From Dentistry?

When it comes to retiring from dentistry, it’s wise to seek professional advice unless of course you are an accountant or investment whiz. Better still, work with a dental coaching firm who will help you with the business side of dentistry.

Dr. Bill Blatchford and Dr. Christina Blatchford are dental coaches who will help you examine your dental practice in preparation for retirement. With the help of a dental coach, you will be making your dental practice more attractive when it comes time to sell your practice and retire from dentistry.

Retiring from Dentistry is it Worth It

If you are digesting this and thinking you have nowhere near enough to retire from dentistry, you are probably not running your dental practice properly. When it comes down to it, making more money is the only way you will be able to retire comfortably.

retiring from dentistry

Productivity is the key to a successful dental practice. With Blatchford Solutions, you will learn how to implement dental management systems. These systems will make your dental practice more attractive when it comes to retiring from dentistry.

Although change is difficult, it is essential if you are retiring from dentistry in the near or even distant future. Think about working until you are 80 like your dad did, and you’ll think again about retiring from dentistry on your own.

Plan Accordingly When you Retire

Blatchford Solutions cannot stress the importance of planning. Regardless of when you are considering retiring from dentistry, a solid plan is an essential part of the process. Without it, you might have to work much longer than you had originally planned.

Dental coaching is the plan. With a good dental coaching team, you will have the systems in place so that when you do retire from dentistry you will be ready with a solid plan and a sound financial portfolio.

retiring from dentistry

Planning your financial future is important whether you are a graduate just starting out or a dentist who has been practicing for decades. With dental coaching your dental practice will be worth more and so will you.

Retiring from Dentistry with Blatchford Solutions

If you would like more information regarding dental coaching for retirement planning, call and talk to the team from Blatchford Solutions. It will make retiring from dentistry a whole lot easier.

Call for a no obligation dental coaching consultation with Blatchford Solutions today.

Comments are closed.