Dentaltown July 2018 - 52
message board
How Much Do You Really
Think You Need to Retire?
Townies discuss retirement figures and how much a dentist should have in the bank before calling it quits
DebtFreeDr
Member Since: 07/31/03
Post: 1 of 181
I get this question asked all the time. I'd like to start a thread with these two questions:
1. How much money do you really think you need to retire?
2. What age do you think you will be able to accumulate this amount of money and actually
retire? ■
3/13/2018
drtomslc
Member Since: 06/13/04
Post: 2 of 181
1. "One hundred trillion dollars."
2. I did not go to evil dental school for four years to stop being called "Doctor," which means
I don't intend to become that guy who follows my wife around the house like a bored
disease. Work less, yes. Never stop working ... until my heart stops. That's my plan. ■
3/13/2018
ttowndds
Member Since: 12/19/13
Post: 5 of 181
This is a tough question for those who are younger than 40 because $5 million now isn't the
same as $5 million in 20 years. If we ignore that fact and look at everything in today's dollars,
with everything paid off I'd say $3.5-$4 million and I'd be quite comfortable. At what age?
Well, it depends when I'm ready to modify my lifestyle to avoid working. If I hit $4 million by
50, I'm likely going to do something else or just be an associate 1-2 days per week. ■
3/14/2018
raclro
Member Since: 08/17/05
Post: 11 of 181
In my late 20s I remember reading in dental magazines about the improbable goal of $1 million. It was considered laughably out of reach for those of us taking home $100 or $200 a day.
Now as I am entering my mid-60s, what is the current number? $3-$6 million is a range we all
see tossed about.
It's a moving target totally dependent on when you retire, what age you retire, remaining
debt (crazy), and lifestyle. My observation is that very few ever think they have enough and
worry about either losing it or missing out on future gains. ■
3/14/2018
THE Token Redneck
Member Since: 09/22/03
Post: 17 of 181
I've said it before ... completely debt free, kid's college paid for ... and $1 million in retirement accounts. I will be over that at age 55. ■
3/15/2018
52
JULY 2018 // dentaltown.com
http://www.dentaltown.com
Table of Contents for the Digital Edition of Dentaltown July 2018
Dentaltown July 2018 - Intro
Dentaltown July 2018 - Cover1
Dentaltown July 2018 - Cover2
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