Episode 609

The Retirement Episode: How to Successfully Retire!

Host: Gary Takacs | Published Date: September 13, 2023 | Listening Time: 0:44:07

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In this special episode, Gary shares invaluable tips on achieving a fulfilling retirement in the dental profession. Discover essential resources that can help you determine the financial aspects of retirement, ensuring you’re well-prepared for the next chapter of your life. But it’s not just about retiring from dentistry; it’s about retiring to something meaningful. Join us as we emphasize the importance of a purposeful retirement journey plan.

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    • 00:00:24 – Introduction to the Episode
    • 00:01:12 – How to earn 3 hours of CE! 

    Today’s Clinical Tip

    • 00:02:57 – 3 Questions to Ask Yourself When Diagnosing a Patient by Dr. Jasper Thoolen

    Coaching in Action

    • 00:05:49 – Gary and Naren talk about retirement for Dentists

    Gary Shares Tips for Planning Your Retirement

    • 00:11:41 –  Concepts about retirement
    • 00:19:23 – A real-life example from Gary about the work schedule

    Q&A Segment 

    • 00:24:54 – Question 01 – What is the youngest age of a Dentist you have encountered who has successfully retired?
    • 00:28:03 – Question 02 – I’m 62 years old and in very good health (active and no medications). I could see myself practicing for another 10 years by choice. Do you think it might be possible for me to reduce my schedule to four 5-hour workdays? NOTE: I have a great Associate Dentist who would like to become my successor.
    • 00:34:47 – Question 03 – I’m 42 years old and the owner of a strong practice with a full-time Associate Dentist. I have always been taught note to dilute the equity in my practice. But I am open to other approaches. Your thoughts?
    • 00:37:44 – Question 04 – Can you suggest any resources that can help me prepare for retirement?


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    Gary Takacs

    Gary Takacs Gary became a successful practice owner by purchasing a fixer-upper practice and developing it into a world-class dental practice. He is passionate about sharing his hard-earned insights and experiences with dental practices across the globe.

    As a dental practice coach, Gary provides guidance for dental professionals on how to create a healthier practice style that lets them deliver excellent patient care while reducing depending on insurance.

    More importantly, Gary’s insights are not just based on theory – as a co-owner of a dental practice, he has first-hand experience in making this transformation from a high-volume and low-fee insurance model to a fee-for-service approach that is more sustainable and promotes a patient-centric and financially healthy dental practice, and he is dedicated to sharing this knowledge with other dental practitioners via the popular Thriving Dentist Show!
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    Podcast Assistance by Jodey Smith, Rodecaster Expert