For many dental clinicians, retirement is not a date on a calendar—it is a long negotiation between logic and identity. It is a psychological and financial transition, often delayed by the question few dentists say out loud: Who will treat my patients the way I do, or better?
It is often said that being a dentist is a commitment to life-long learning…i.e. your education doesn’t stop when someone hands you a diploma at graduation. With the readers’ permission, I would like to amend that thought as follows: Upon retirement from practice, your obligation to educate extends to mentoring those who follow. Webster’s dictionary … Read more
Michael Carabash, dental lawyer, interviews retired dentist James Vassallo on how he spends his time post-dentistry. Subscribe to Oral Health’s weekly e-newsletter to have the latest episode delivered straight to your inbox every week!
When government budgets are announced, they generally try to answer two questions: 1) How do we raise taxes? 2) Who will pay for these taxes? The “Who” part is easy: It’s the rich and wealthy or those perceived as rich and wealthy (e.g. dentists.) The answer to the “How” is less certain. In 2016, they … Read more
For every practitioner, there comes a time when they realize it is time to let go of the reins. For me, it was after 48 years of “riding the horse” of a successful, private, fee-for-service general practice. I had an associate I thought would buy the practice. My lease was coming due when I thought … Read more
This week Dr. James Vassallo compares his experience with his first ever patient to his final patient. Subscribe to Oral Health’s weekly e-newsletter to have the latest episode delivered straight to your inbox every week!
This week Dr. James Vassallo joins Michael Carabash to discuss his experience associating after he had sold his practice and retired. Subscribe to Oral Health’s weekly e-newsletter to have the latest episode delivered straight to your inbox every week!
This week Dr. James Vassallo joins Michael Carabash to discuss why he decided to retire from dentistry. Stay tuned for more clips from this interview! Subscribe to Oral Health’s weekly e-newsletter to have the latest episode delivered straight to your inbox every week!
Two, Four, Six, Eight! Maximize and Appreciate! In our previous two articles of a three-part series, we shared the two most common ways in which a dental practice is sold, the four ways to maximize your practice’s value, and six critical themes that create a framework to maximize your wealth and minimize your risk. In … Read more
Two, Four, Six, Eight! Maximize and Appreciate! This article is the second in a three-part series that reviews some of the major considerations in preparing for practice ownership transition and comprehensive retirement planning. In the previous article, we discussed the two most common ways in which a dental practice is sold and four ways to … Read more
Two, Four, Six, Eight! Maximize and Appreciate! As the adage goes, “failing to plan can mean planning to fail.” As health care entrepreneurs, we are responsible for the creation of our own retirement pensions through a career of hard work, smart planning, and effective strategies. Planning for the day when we elect to hang up … Read more
In this episode of Weekly Wisdom, R. Paul Jacobson, K.C. discusses the timeline for preservation planning. Subscribe to Oral Health’s weekly e-newsletter to have the latest episode delivered straight to your inbox every week!
Last year’s survey provided some interesting statistics regarding retirement among Canadian dentists. One-third of dentists shared that the pandemic had hastened their decision to retire from the field. With more dentists retiring and many leaving the field for other reasons, this certainly presents an opportunity for young dentists who are just graduating and entering the … Read more
I think I might be getting old (I am almost a senior!). Time passes quickly and with age comes reflection. What I have learned from my journey is that most people view their lives in two possible universes as it relates to their retirement. The first universe deals with exposure and risk management. The second … Read more
Dentists want to know their Financial Independence Target (FIT#TM) ‘How much do I need to retire?’ is a common question we are frequently asked at TMFD Financial. Every situation is different depending on the time horizon to retirement, the value of the dental practice, and starting Net Worth comprising all financial assets less liabilities. At … Read more
Retirement is when you want to spend more time enjoying life than worrying about taxes. That’s why it is important to have the right tax strategy during your retirement years. By understanding how you can lower your tax burden in retirement, you can keep more of what you have earned throughout a lifetime of saving … Read more
It is important to thoroughly plan for retirement; any mistakes can mean you run out of money in what should be a peaceful, carefree time. There are a number of things dentists can take into account when retirement planning: unexpected issues, inflation, expenditure, and many other factors. This article will cover some common things dentists … Read more
Episode 6 of 6 For most dentists, the sale of their practice will probably be the single largest financial transaction of their professional lives. And, the most complex because of the numerous tax, legal and emotional aspects involved, in addition to the financial ones. The decisions taken at this crucial time will have life-long ramifications. … Read more
3/3 The Experienced Dentist Pocketbook — A Three Part Series It is done, you’ve gone through due diligence, you are done with all lawyers, accountants and consultants. You have inked the agreement and a sigh of relief is noticeable. Welcome to another “first day” of the rest of your life. Similarly to any life milestone, … Read more
1/3 The Experienced Dentist Pocketbook — A Three Part Series Dwight D. Eisenhower said, “In preparing for battle I have always found that plans are useless, but planning is indispensable.”, throughout our adult life, retiring seems fairly far away. It might be argued that our adult life is too busy and overwhelming, one does not … Read more