No Time Like the Present
Retirement. Conceptually, it's something we all look forward to. How far forward depends on individual circumstances. For some, it's lurking right around the corner. For others, it's decades down the road. In the interim, there are patients to treat, practices to run, and lives to live. There will be plenty of time to worry about retirement later on, right?
Maybe. Or maybe not.
That's why we have selected retirement as one of our cover stories for 2019. I think it's important to remind practitioners that the time to plan for retirement is not when it's right around the proverbial corner. Instead, planning should begin when it's still distant on the horizon.
During my own career, I was extremely fortunate to have had some excellent advice regarding financial planning at an early juncture. My former partner, Paul Polydoran, DDS, sat me down at the age of 30 and said, "Why do you act like you have a lot of money? Is it because you have a Rolex and drive a used Mercedes?" He went on to say that "people don't expect you to have a lot of money at 30, but if you don't at 50, they will laugh at you." He was instrumental in getting me to start saving. That was in 1991. Since then, I have always funded my retirement to the maximum, and 5 years ago, I implemented a cash balance plan, which is an excellent way to defer income.
So whether you're just starting out in practice or you have some miles behind you, take a few minutes to assess or reassess your position and retirement planning. Talk to financial advisors. Talk to your peers. Talk to your mentors. Have a plan. Invest the time presently so you can enjoy your time in the future.
Speaking of the present, this issue of Inside Dentistry also includes some extremely pertinent articles. Our CE addresses the treatment of worn dentition-an increasingly common challenge in an era with an aging but esthetically uncompromising population. Another common challenge, performing orthodontics while treating OSA with appliance therapy, is discussed in this month's Inside Orthodontics article. Lastly, a piece on combining digital dentistry with conventional techniques rounds out the issue with a look at how the ever-growing role of technology complements artistry in clinical practice.
I hope you enjoy the issue. Remember, your insights and feedback are always welcome. Contact me at the address below-I look forward to hearing from you!
Robert C. Margeas, DDS
Editor-in-Chief, Inside Dentistry
Private Practice, Des Moines, Iowa
Department of Operative Dentistry
University of Iowa, Iowa City, Iowa