Why should a dentist ever retire?

[JohnChalmers]

Assuming you have a thriving practice, when you get older, why not just retain ownership and hire associates to work for you and manage your practice? Assuming you're healthy and still have some interest in dentistry, but want to scale back your hours, is this a realistic option?

I'm wondering because I've heard that the number of dentists retiring is supposedly exceeding graduates, but the reality on the ground seems different. So it seems like a lot of dentists might "retire", but then retain ownership and still be involved with their profession to some degree.

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[CMistry]

Most dentists will tell you that management is the most difficult and frustrating aspect of dentistry. Obviously the dentistry is physically demanding, but it's the management is mentally draining. Can't blame them for wanting to escape once they're financially secure.

 

[OhioDMD]

That's the goal I'm working toward. Life has been very good to me. Realistically I could sell and retire tomorrow but at age 57 I am mentally not ready. However I would love to take 4 more weeks of vacation a year and only work 3 days a week when the weather is nice. Unfortunately, as a solo practitioner with 5 full- time employees and a large (3500) active patient base that is not possible.

The problem is finding an associate with a similar philosophy that wants to practice in blue collar midwestern Ohio. One that will be a good mix with my current employees and patients and has realistic expectations of what "bread and butter" dentistry entails. I have had any number of contacts by potential associates who want one or two days a week from the larger city 40 miles away however I really don't want a revolving door of associates. Fortunately I do enjoy dentistry and at least for now time is on my side.

I'll assume that I am not the only dentist that would rather find a successor for his patients and practice than a buyer.

 

[145bluz]

Answer : Because there is more to life than dental medicine......

 

[dentalsaving]

"Retirement doesn't make sense if you think you can still work part-time or do something to keep your mind and body sharp."