Dental Retirement


Retirement? Dentists May Have To Keep Working

Nearly two-thirds of dentists acknowledge that they will have to postpone retiring due to the current economy, finds a Wealthy Dentist survey. Only one in four dentists say their retirement plans are holding steady.

March, 2009 (San Francisco, California) Most dentists are postponing their retirement plans because today’s brutal economy is wreaking havoc on their dental practice profits, reveals a survey by dental practice marketing resource The Wealthy Dentist. While 62% of dentists say they plan to work longer, only 25% report that their retirement plans
are on track.

Dentists are feeling the pinch of tighter finances as much as any other industry. “I love dentistry, but this sucks!” griped a New York dentist. An orthodontist mused, “I’m beginning to wonder if I’ll ever be financially able to retire and maintain my current lifestyle (which is NOT an extravagant one, by the way).”

So what’s a struggling dentist to do? “Plan ahead, it works!” advised a Florida dentist and investment advisor, who is retiring early at age 64. Financial planning for dentists involves deciding whether to sell the practice or take on an associate, whether to hire dental consultants, and maximize profits through careful dental marketing campaigns.

The older dentists in this survey were more likely to acknowledge that they might not even have a concrete retirement plans. “I feel as though I may have to work forever!” said a 65-year-old California dentist. “My plans are mostly holding steady,” reported a New York dentist, 61. “However the loss of pension assets is causing me to rethink the time frame.”

Retiring is not the end goal for all doctors. “I’m also beginning to wonder if full retirement is really a worthwhile goal anyway… All I do now is work, and I love my profession!” raved a Georgia orthodontist, 54. “I’m still happy doing what I do,” agreed a pediatric dentist, 64. Said a 63-year-old Utah dentist, “I am not interested in retiring. I do want to change my practice to do more implants, dentures and ortho.”

Even dentists with many years left before they retire are reconsidering their dental management strategies. “I still have 10+ years until I retire. As for now, I am refinancing everything I can to the lowest rates I can so that in 10 years I will be in an even better position to retire than I would have been,” said a 51-year-old dentist. Shared another doctor, “I will need to work longer, but at least I have time on my side since I
am 47 years old.”

Dentists who love practicing dentistry may opt to reduce their hours without quitting entirely. “I’ve been working 3 days a week for 10 years without loss of production, so retiring in place is working for me,” said a 61-year-old Louisiana dentist. Said a 66-year-old Georgia dentist, “I do not need to sell for retirement, but I will sell for cash. Otherwise I will continue to buy myself out for as long as it is still fun to practice.”

There were plenty of harsh words for those responsible for the current economic crisis. “Put ’em in jail… no bailouts!” said a Florida dentist. “People rely on me for an honest opinion and to do a good job,” said a New Jersey dentist. “Why can’t I rely on the advice of an investment professional so that my money is not blown away?!”

“Retirement doesn’t magically happen when you turn 65,” said Jim Du Molin, dental consultant and founder of dental website The Wealthy Dentist. “It takes planning and strategy; that’s one of the first rules of dental consulting. The current market is weeding out anyone who doesn’t have a firm dental retirement strategy in place.”

Du Molin invites readers to visit his blog at and comment on this survey.


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Jim Du Molin

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