Why saving 10% won’t be enough for Dentists…

Happy New Year!

We hope you had a good holiday season, and took some well deserved time off.

If you’re reading this, I know you’re NOT just an average dentist…

Did you know that the national median household income in the USA was $74,580 in 2022?

At a normal retirement age of 66, Social Security makes up about 70% of that income.The 10% savings rule of thumb works for average Americans as savings can fill in for what Social Security doesn’t cover.

The average GP income from ADA statistics is approximately $200,000.

And that’s payroll income, which means many dentists are earning much more than that.

Specialists earn in the $300,000 to $600,000 range.

The average dentist we work with at Professionals Prosperity Group spends around $16,000/month.

Social Security at around $3,000/month is not going to make much of a dent in a $16,000/month lifestyle.

So for dentists, saving merely 10% is not going to cut it...

Here’s how much we recommend Dentists should save:

• 10% - for a new dentist coming out of school

• 15% - if you have a good associate job or are early in your practice

• 20% - during the accumulation phase of your career

• 30% - great for above-average years

• 40% - a stretch goal for exceptional years

We see real money-saving masters set up automatic savings drafts at 20%+ of their income and commit to them - with few exceptions.

As a former practicing dentist, David has successfully grown and sold four dental practices, including one that was in the top 2% of producing practices in the country.

And as a certified exit planning advisor, growth-drive specialist, and life & business coach with over 25 years of coaching experience David Dinsmore has helped many dental entrepreneurs/practice owners create a strong financial foundation so they can focus on the rest of their lives.

Discover the secret of how other professionals have unlocked new opportunities and confidence with a holistic plan we created specifically for them.

Download a free copy of David's latest book “Foundational Wealth”:  to find out more and to get started.

I look forward to meeting you!

Until then…Connect Deeper and reach Higher,

On behalf of...

David Dinsmore, DDS