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Investing in your future

Date: August 2022

Author: Mandy Dennis, RDH

Graduating from Dental School brings on many different plans.  Planning for a practice, possibly a family and long term financial security.  Sometimes it’s hard to look down the road in twenty five years to fifty years, when the immediate goals are needing attention.  However, it is important to plan for retirement.  Planning for retirement, as you begin your career, can alleviate fear and anxiety later in life.  

Make a plan

When do you want to retire?  What do you want to do in retirement?  Having an idea for when and what will determine the resources you will need upon retirement.  Many investment companies such as Merrill Lynch provide quick retirement calculators to get an idea.  This isn’t an end all resource, however it is a starting place.  Once you start evaluating the amount needed, you will be able to save accordingly.  

Understanding where to start

There are many ways to invest and save.  It’s important to familiarize yourself with the language of investing.  Knowing a little can help you as you communicate with your team of professional advisors.  Are you looking for a small risk or something with a higher chance of return?  Other options of investment include real estate.  Discussing your goals and risk options with a financial planner will help you to discover what will be best for you individually.  


You've graduated.  Whether you are an associate or starting your own private practice, you are finally making money.  It would be easy to get caught up in the new ability to get the things you've wanted.  Reward yourself.  You worked hard to get through dental school.  You should have the opportunity to take the trip or get the thing you've wanted, but look ahead.  How are you planning on living after you've finished the next chapter?  Understanding the complexity of investing and saving can be overwhelming.   Finding a financial planner/advisor, a CPA and other advisors and meeting with them quarterly to stay on track, will help alleviate the stress of what you may not understand in the investment process.  The group of advisors you find are specialized in these areas, allowing you to stay focused in dentistry.  This will help you prepare and plan the now and future.  Having someone help you invest regularly.  Starting at the beginning of your career will also help you not to “miss” the resources you are investing.  

Take aways

Dentistry is about planning for physical health.  We present plans to patients, so they can properly move forward with treatment.  Financial health for the now and future is just as important as physical health.  Making a plan will reduce future stress.  Starting early will help to prepare for success. 

  • Make a plan for how you want to spend retirement.  

  • Familiarize yourself with the investment vocabulary and the basics in types of investment

  • Trust the advisors you have in place and regularly check-in to ensure you stay on track. 

Investing in your future may initially appear to be reducing the availability you have now, however it will increase your happiness later, as you step into the next chapter of life.


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