Wealth Management

Wealth planning for the dental professional is the task of keeping tabs on and making adjustments to your financial health. This includes the planning for your business, family, and retirement.

As a young professional your wealth plan will involve the important task of getting started and developing good habits for the accumulation of your financial assets. These early good habits will help to assure a secure future for you and your loved ones. This early planning includes debt control and repayment, business development and retirement planning. If you have children it will also include educational planning.

In your thirty’s and forty’s the dental professional will want to revisit and revise or get on track with their wealth planning. If you haven’t identified your trusted advisors to help you with this process now is the time! The advisors you will want to include will be your; estate attorney, CPA, insurance specialist, CFP, CFA or other investment professional, and practice consultant.

Wealth planning crunch time begins in your fifties. This is catch-up time for your retirement accounts and planning time for the eventual exit from your practice. This may be the time you consider a second home in a location that will be your primary home in retirement. For many it is also a time that we launch our dependents off the checkbook. There is less time for recovering from financial missteps at this time in your career making the role of your advisors all that more important.

Exit planning and retirement will involve maximizing the value of your practice with retirement starting for most dental professionals in their mid sixties or early seventies. During this phase of your Wealth Planning you may need to enlist the expertise of a great banker and a practice broker. Remember to think about your personal needs during this important phase. Will you retire or just slow down? What will you do in retirement? Are you and your partner on the same page about the how, what, when and where of retirement?

  • Retirement planning
  • Insurance needs
  • Educational planning
  • Tax tips
  • Vacation home planning

Take control of your business, wealth, and estate planning today!

Contact Nora

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