7 Must-Know Financial Planning Strategies For Dental Professionals

The typical dentist comes out of dental school with a ton of debt and very little money. Moreover, they have to plan appropriately to set themselves up for years to come, but many fail. So, how can dentists avoid the pitfalls of financial ruin? Edward Dennis is a financial advisor specializing in the dental market. He has a lot of experience helping dental professionals plan their financial futures and become better at business and finance. Today, Edward joins me to share 7 financial planning strategies all dentists should know about. Tune in to learn more! We discuss the benefits of buy-sell planning, how to use a 401(k) to improve talent attraction and retention, and the one thing all dentists should have in their financial portfolio.   Key Takeaways  7 Financial planning strategies for dentists (0:00) Why dentists often fail at the business side of dentistry (03:16) What is the definition of your true occupation? (06:28) The benefits of buy-sell planning (15:28) What is the backdoor Roth IRA strategy? (18:55) How to use a 401(k) plan to attract and retain good talent (21:53) Choosing the right financial team (24:45) The one thing every dentist should have in their financial portfolio (29:38) Lightning round questions (31:48) Additional Resources Learn proven dental marketing strategies and online reputation management techniques at: https://www.drlentau.com This podcast is sponsored by Cloud Dentistry, the largest dental talent marketplace. Find out more at: http://www.clouddentistry.com/Len This podcast is sponsored by Dental Intelligence. Learn more at: https://www.dentalintel.com/ This podcast is sponsored by The Doc Sites, the leading provider of websites and online marketing for dentists. Find out more at: https://www.docsites.com/