How Dentists Can Take It Easy Until Retirement

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Patient Attraction Episode 1225

– Thanks for watching the Patient Attraction Podcast™.

– I’m Colin Receveur, founder and CEO of SmartBox.

– According to the ADA, the average retirement age for dentists in 2015 was 68.8, up from 66.1 in 2005.

– The Great Recession certainly had an impact on dentists’ incomes and, by extension, their retirement savings.

– Practice valuations declined, meaning that dentists who were ready to retire couldn’t get the prices they needed for their practices.

– At this point, practice incomes and valuations have largely recovered from the recession.

– If you’re in your 30s or 40s, you still have plenty of time to put your retirement on a firm footing.

– If you’re in your early 50s, you probably have time, barring another recession between now and your retirement age.

– If you’re in your late 50s or 60s, you could have a serious problem.

– Being able to retire as and when you want is one thing.

– What about the years leading up to retirement?

– Do you really want to wear out your back and neck hunching over the chair 35 hours a week?

– Do you enjoy an endless procession of drill-and-fills, routine exams, and one-offs?

– Or would you rather spend your time handling the cases you love to do?

– Dr. Travis Watson of Marietta, Georgia, has been pondering that question, and he has his answer.
– He said, “A consistent goal that we have is to continue to have the new patients come in that are high-quality …

– “… who are interested in comprehensive dentistry, and really just want something better for themselves and aren’t just what we call single-tooth type situations.

– “They’re more of the fine cases that we enjoy doing, so that’s always going to be a goal for us as we move forward with a company like SmartBox to help us with that.”

– Dr. Scott Watterson probably isn’t looking at retirement any time soon, but he’s looking hard at his current quality of life.

– He said, “I have 4 kids and a wife and we’re all busy, but sometimes, being busy practicing dentistry is not what I want to be busy doing.

– “I coach soccer, I am involved with my kids’ lives, I value my marriage, and we spend a lot of time together, but not enough.

– “And so, at the end of the day, at the end of life, I want to be able to look back and say I spent the time I needed to with those that mattered most.”

– So, are you interested in ensuring a very comfortable retirement?

– Or do you want to enjoy life more now?

– If you don’t have a solid plan to accomplish either of those in a reasonable time frame, you’ll need to do something different.

– There’s a reason SmartBox has said that we help dentists get more patients, more profits, and more freedom.

– Our industry-leading Patient Attraction System® provides a steady stream of new patients so our doctors can focus on doing the dentistry.

– And as I discussed in an earlier podcast, the best time to put your practice on a solid footing is while the economy is good.

– Taking action now can give you more time to use as you wish.

– More time to handle the cases you love.

– More time to spend outside the office.

– And the time to prepare for the retirement you deserve.

– Discover what our Patient Attraction System® can do for your practice.

Visit smartboxdental.com and reserve your no-cost, no-obligation Practice Discovery Session™.

– After the session, you’ll receive your free Patient Attraction Roadmap™ as well.

– The time to act is now … unless you want to work too hard, for too long, for too little.

– Join me for our next podcast.

– Until then, keep moving forward.