Nowadays, the average dental school graduate could face over $300,000 worth of debt. That is a hefty amount for any student to take on, especially now when most of you are dealing with the stress of dental school. Before you start to panic take a deep breath and follow these tips to help you get on the right track if you find yourself beginning to struggle with dental school debt problems.
In this edition of Let’s Talk, Christian Pearson, national director of dental partnerships at financial services provider Treloar & Heisel, speaks with Jon Burns, vice president of Bank of America Practice Solutions, a specialty division focused on providing financing to dentists who seek to establish their own practices, about the benefits of working with a specialty lender.
A question that I often hear from new dentists is: Do I need a financial advisor in addition to an accountant/CPA? The answer depends on a lot of factors (including one’s personal financial wealth going into dental school), but the vast majority of starting dentists may not need a true financial advisor until they accumulate some substantial wealth. With that said, if you need particular help with personal investments or personal budgeting as you start to work, there are certain things that you should be prepared to ask any potential financial advisor upon an initial meeting. These questions are also great to keep in mind if you are meeting with a professional service provider for the first time, such as your accountant or attorney:
The completion of dental school (or residency) brings a whole bunch of changes and new responsibilities. As this blog has made clear many times before, there are several financial changes a new grad must deal with. One of those financial questions new grads are often confronted with revolves around disability insurance. While not exhaustive, I’ll attempt to give a few tips on disability insurance in this article.