On the Right Track for Practice Ownership?

[PreDentGator2021]

Hi all,

I am an incoming dental student on the HPSP Scholarship. As a Pre-Dent, my initial goal was to eventually purchase my own practice, but I thought that the military was the better decision due to the debt I would have to take out. At this point I plan to do the 1 Year AEGD and either separate at 31 as a general dentist, specialize through the military, or specialize after separation with the GI Bill (Still not 100% sure what path I want to take yet). I plan to max out my Thrift Savings Plan (military 401k), Roth IRA, and save up cash for a down payment on a practice. Am I missing anything, or is this a good general game-plan to hit the ground running as a practice owner after my time in the military is up?

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[Saddleshoes]

Sounds like a good plan.

However...
One of the first lessons learned as a military officer is this quote by Carl von Clausewitz.
"Every plan is a good one - until the first shot is fired.”

 

[yappy]

Hi all,

I am an incoming dental student on the HPSP Scholarship. As a Pre-Dent, my initial goal was to eventually purchase my own practice, but I thought that the military was the better decision due to the debt I would have to take out. At this point I plan to do the 1 Year AEGD and either separate at 31 as a general dentist, specialize through the military, or specialize after separation with the GI Bill (Still not 100% sure what path I want to take yet). I plan to max out my Thrift Savings Plan (military 401k), Roth IRA, and save up cash for a down payment on a practice. Am I missing anything, or is this a good general game-plan to hit the ground running as a practice owner after my time in the military is up?

I recommend working a Saturday a month in the civilian market after you gain some experience in the military. This will help you make more money and most importantly learn more about insurance.
I think your plan is great and in hindsight I wish I would have done something like that. I have seen people do startup/buy ins with much more debt and much less experience.

 

[knewstance]

Hi all,

I am an incoming dental student on the HPSP Scholarship. As a Pre-Dent, my initial goal was to eventually purchase my own practice, but I thought that the military was the better decision due to the debt I would have to take out. At this point I plan to do the 1 Year AEGD and either separate at 31 as a general dentist, specialize through the military, or specialize after separation with the GI Bill (Still not 100% sure what path I want to take yet). I plan to max out my Thrift Savings Plan (military 401k), Roth IRA, and save up cash for a down payment on a practice. Am I missing anything, or is this a good general game-plan to hit the ground running as a practice owner after my time in the military is up?

If you plan on getting out ASAP, why bother with the AEGD?

 

[PreDentGator2021]

If you plan on getting out ASAP, why bother with the AEGD?

To the previous poster, I will definitely take your advice and spend some time in the civilian sector before I get out! As far as the AEGD, I was told that it gives you more freedom in what procedures you can do while in the military, and also looks good on a resume when applying to a specialty. So I figured the extra year was worth that benefit, especially since I’ll be getting paid as an officer while completing it.

 

[knewstance]

To the previous poster, I will definitely take your advice and spend some time in the civilian sector before I get out! As far as the AEGD, I was told that it gives you more freedom in what procedures you can do while in the military, and also looks good on a resume when applying to a specialty. So I figured the extra year was worth that benefit, especially since I’ll be getting paid as an officer while completing it.

There are a lot of factors that play into the AEGD.
IMO, if you plan to get out anyways, just do it as fast as possible. If you plan to stay, great - do the AEGD, why not.

My perspective on the AEGD is that I would do LESS dentistry than I currently do at school. I have 4.5 clinic days/week and usually 2-6 patients per day during D3/D4. From my understanding, AEGD gets 3.5 clinic days per week and usually a similar patient load. It feels like a downgrade to me - for that reason I don't have much interest/enthusiasm towards the program. You'll get different feedback from all sorts of people on this topic though.

 

[allDAT]

Military is a good way to go. Don’t stress about practice ownership, just enjoy your life as much as you can. PP ownership will be here when you get out of the military. You’re fortunate to have the scholarship, in hindsight I too should have at least applied.

There’s a lot of info available to listen, watch, or read. Remember that most of the people creating content have sometime to sell and an agenda to push so digest the info with this in mind.