Associated Dentists

As an associate dentist you might have access to an array of benefits such as various types of insurance offerings and retirement plans. Benefit packages can be very beneficial, but they need to be analyzed carefully by your own personal advisor. When a new dental professional is hired by a practice, it is common to assume that their new employer is assisting them with all areas of the financial future and they fail to take the time to analyze specific strategies in relation to their personal financial plan. This may result in major gaps in your financial plan.

For example, many types of insurances are not portable, which means if you leave your employer, you cannot take those plans with you and will ultimately have to obtain your own plan. At that time, you will have to go through medical underwriting to see if you qualify. It is important to own personal Life and Disability Insurance on an individual basis, not only through your group plans. Other insurance plans should also be analyzed to make sure you understand how they work and what the best option is for you.

Retirement plans also offered through your employer are often overlooked. Most likely, your employer will not provide you with an advisor to review this plan, which may leave important strategies out of the picture. Questions such a liquidity and tax diversification need to be addressed.

If you are looking to own your own dental practice, it’s critical that you start learning from professionals specific to the dental industry as early as possible. Having discussions with a lender, attorney and tax advisors can give you great insight in what you should do next as you get closer to reaching your ultimate goal.

Let’s schedule a meeting to discuss what your current plans are and how you can enhance and secure your financial future.