We work with dental professionals to create personalized financial strategies—minimizing tax burden, supporting practice growth, and preparing for a confident transition when the time is right.
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The Situation
Dr. Harper, a recent dental school graduate, began working as an Associate Dentist at a prestigious practice. While excited about her career, she’s burdened by student loans and has not yet begun saving for retirement. Although living in a modest apartment, Dr. Harper dreams of homeownership soon. As she embarks on this financial journey, Dr. Harper recognizes the importance of contributing early retirement and long-term wealth growth.
Our Approach
We helped Dr. Harper by:
Student Loan Strategy: Created a debt repayment plan balancing student loan payoff and other financial priorities.
Retirement Planning: Optimized contributions to her 401(k), using a blend of Roth and pre-tax strategies based on projected earnings.
Roth IRA Setup: Established a Roth IRA to boost tax-free growth beyond her employer’s 401(k).
Home Savings: Designed a home down payment savings plan using a brokerage account, focusing on moderate risk.
Emergency Fund: Set up a 3-6 month emergency fund to build financial security.
The Results
Dr. Harper is on track to pay down her student loans while steadily building her retirement savings. She has funded a Roth IRA, and her home down payment is on target. With a clear plan and emergency savings in place, she feels confident and focused, knowing she’s making progress toward her future.
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The Situation
Dr. Jason recently opened his own dental practice after 20 years in the field. He’s managing the challenges of business growth while balancing retirement planning and saving for his children's education. With fluctuating revenue, Dr. Jason was unsure how to prioritize saving for both the business and his future.
Our Approach
We helped Dr. Jason & Laura by:
Business Cash Reserve: Established a separate emergency fund for the practice to ensure personal finances aren’t affected by slow months.
Automatic Savings: Set up automated savings for his Solo 401(k) and 529 plans for his children’s education.
Cash Flow Projections: Developed cash flow projections to better balance business reinvestment with personal financial goals.
Cash Flow Allocation: Implemented a strategy to allocate business revenue efficiently to cover expenses and savings.
The Results
Dr. Jason now has a clear strategy to grow his practice while pursuing his personal financial goals. He’s saving for retirement and college, and the business has the cash reserves needed to weather lean periods. With his finances aligned, Dr. Jason feels confident and optimistic about his future.
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The Situation
Dr. William is nearing retirement and plans to sell his dental practice in the next 2-3 years. While he and his wife, Susan, have accumulated substantial retirement savings, Dr. William is uncertain about how the sale of his practice will impact his retirement and taxes. The couple wants to ensure they have the income needed to enjoy a comfortable retirement lifestyle, including travel.
Our Approach
We helped Dr. William and Susan by:
Exit Strategy: Explored exit strategies, including selling to an associate or a DSO.
Tax-Efficient Sale Structure: Designed a strategy to minimize taxes by structuring the practice sale tax-efficiently.
Maximizing Retirement Contributions: Helped the couple maximize catch-up contributions to their retirement accounts.
Sustainable Income Strategy: Developed a retirement income plan incorporating the practice sale and other income sources.
Downsizing Strategy: Guided them on downsizing their home to free up capital for retirement.
The Results
Dr. William and Susan successfully sold the practice in a tax-efficient manner, ensuring they’ll have sustainable income in retirement. Their downsizing strategy provided the necessary capital, and their retirement plans are sound. The couple is confident about their future and excited to enjoy their desired lifestyle.
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