retiring dentists

[lazyindy]

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Does anyone have statistics on the current average age of dentists across the U.S. and the projected retirement rate?

 

[psiyung]

i think the statistic is around 2-3 percent can retire by 60

 

[DrFlap]

I know a 72 year old dentist who is still working part time.

 

[OhioDMD]

Just turned 60 and could retire tomorrow but I have a few more toys I want to purchase before I hang up the drill and live on a budget again .

 

[Incis0r]

i think the statistic is around 2-3 percent can retire by 60

HOW?!
Jeez are these dentists not saving anything in retirement accounts?

 

[OhioDMD]

HOW?!
Jeez are these dentists not saving anything in retirement accounts?

To be honest with you life happens. Perhaps living beyond your means, divorce (great early retirement slayer),
poor or no early retirement savings (time value of money), and bad investment advise probably account for over half of the dentists still working at 65+. Some others (myself included) don't mind what we do. It affords a good income, keeps me off the streets and productive as I approach the twilight of my years.

 

[Incis0r]

To be honest with you life happens. Perhaps living beyond your means, divorce (great early retirement slayer),
poor or no early retirement savings (time value of money), and bad investment advise probably account for over half of the dentists still working at 65+. Some others (myself included) don't mind what we do. It affords a good income, keeps me off the streets and productive as I approach the twilight of my years.

Fair enough- I respect working throughout your life to stay productive. That is what breeds satisfaction. And I plan to do it as well.

I'm in the camp which seeks to establish a nest egg ASAP so that I have the ability to sustain myself indefinitely in a crisis. I can see myself continuing to work in the future beyond that, but I don't want to be dependent on my job for income- I want my investments to take care of my living expenses.

 

[Saddleshoes]

To be honest with you life happens. Perhaps living beyond your means, divorce (great early retirement slayer),
poor or no early retirement savings (time value of money), and bad investment advise probably account for over half of the dentists still working at 65+. Some others (myself included) don't mind what we do. It affords a good income, keeps me off the streets and productive as I approach the twilight of my years.

OhioDMD Stated the case well.

I would also add that the "Baby Boomer Generation" had a live for now mentality, dentists included. These guys tended to spend it as fast as they made it and gave no thought to the future. As a result these guys are into their 60's with no savings and have no choice but to continue working.

As for me...
I have retired twice and taken the benefits offered. I then turned around and got another dental job. I really like what I do and I am good at it. The funny thing is, I like it even better when I don't really have to do for the money any more.

For all you recent grads with $250,000+ in student loans out there...
Don't hate me. I am taking care of the people you don't want in you practice anyway. I am taking care of the people that your economic situation forces you to turn away.

 

[Incis0r]

The funny thing is, I like it even better when I don't really have to do for the money any more.

This is a very critical point that I have heard from many people.

 

[Hedgy]

 

[480640]

.

 

[Scumbag_Steve]

.!

 

[okiedokeartichoke]

^^ I'm not too surprised with the late retirement age. I once met a dentist still working his own practice with a full head of white hair. I didn't know his exact age, but he was definitely over 65.