What is The “Grand-Doctor” Role?
We’re all familiar with the traditional work/retirement model: You work hard earning income and saving until you hit your target retirement date and hang it up. But I think this is the wrong way to retire.
Why does it have to be all or nothing? Why should work and life be a zero-sum game?
What if you find that you still enjoy dentistry as you get older, even if you don’t want the daily pressures? What if you could serve the practice in a limited role—a day or two a week, or maybe a week a month—working only with your preferred patients on certain cases and at a favorable compensation rate?
It’s what I call a “grand-doctor” role, and it’s a great way for the practice to be assured of a smooth transfer of ownership and to continue to benefit from your experience while you earn income. This also offsets the need for you to draw on your retirement savings. It’s an ideal, low pressure and enjoyable way to cap a career and to exit your practice on your own terms.
This is the way every dentist should retire—financially independent, professionally fulfilled and secure in the knowledge that their legacy endures in the practice they built.
Every dentist can do this. All you have to do is stop thinking in terms of a “finish line” and think instead of how you would like to optimize each stage of your career and your life.
Think of it as a process—one that you can begin now. In fact, the best late careers are born from smart mid-career moves. It’s never too early to have a plan.