Planning for the Future with Profit First
Apr 22, 2024
Feeling a bit burned out? Take a moment to think back to when you first started or bought your practice. Remember how excited and energized you were at that time? You were full of enthusiasm and willing to do whatever it took to make your practice successful. But as time goes on, the daily grind can start to wear you down. You may be feeling tired, have aches and pains, and feel stuck in the same routine. It's natural to start wondering how long you can keep this up and when you'll be able to retire comfortably.
I'm here to remind you that it's never too early to start planning for your future. One important step is to start saving money and ensuring that your practice is generating enough cash flow to cover expenses and save for retirement. Having a system in place to track your financial health is crucial. You may not think this applies to you, but let me share with you some eye-opening statistics about dentists and retirement.
The average age at which dentists in the US retire is 69, which is seven years later than the general population's average retirement age of 62. Implementing simple and practical financial systems is necessary for the profitability of your practice. I highly recommend the Profit First system as the most effective approach.
Are you ready to take control of your practice finances? Visit www.profitfirstdentist.com and tap the 'Free Resources' tab to download the first two chapters of my book for FREE! I assure you that this method works! And don't miss the latest YouTube video in our series here.
-Barb Stackhouse, RDH, M.ED.
Mastery Profit First Professional
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