MtoM #101 - General Dentist Buys Private Practice
White Coat Investor Podcast
Dr. Jim Dahle of the White Coat Investor
4.8 • 2.4K Ratings
🗓️ 16 January 2023
⏱️ 20 minutes
🧾️ Download transcript
Summary
Today on the podcast we chat with a general dentist about his journey from the military to private practice. Not only has he purchased a practice but also hit millionaire status just over two years after buying his practice. He said being a business owner requires knowing your risk tolerance as well as having a commitment to paying off debt as quickly as possible. Want to learn more about buying into a medical or dental practice? Check out this post: https://www.whitecoatinvestor.com/evaluating-medical-practice-buy-ins/
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Transcript
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| 0:00.0 | This is the Whitecode Investor Podcast, milestones to millionaire, celebrating stories of success |
| 0:05.6 | along the journey to financial freedom. |
| 0:12.7 | This is milestones to millionaire, podcast number 101. General Dentist buys a practice and becomes |
| 0:18.0 | a millionaire. This episode is sponsored by INCROUND. Their five to ten minute microsurvey's |
| 0:23.5 | use a mobile first approach, giving physicians an easy way to participate in paid research on diverse |
| 0:28.0 | healthcare topics. It's medical research designed for physician schedules. |
| 0:32.2 | Join now to be master with studies that fit your areas of specialization at whitecodeinvestor.com |
| 0:37.1 | slash INCROUND. All right, we've got a great guest today and our interview is a little |
| 0:42.3 | longer than the normal interview, so let's get right into it and talk about buying a practice and |
| 0:49.1 | becoming wealthy as a general dentist. Our guest today on the milestones to millionaire podcasts |
| 0:54.5 | is Will. Welcome to the podcast. Thank you so much for having me. Well, congratulations on your |
| 0:59.1 | recent accomplishment. We are celebrating the fact that you have bought a private practice, |
| 1:04.4 | which is a big step in the career of a dentist. Absolutely, yes it is. Awesome. Well, let's learn |
| 1:11.0 | a little bit about you to start with. Tell us when you came out of school what you've been doing since. |
| 1:16.8 | Yeah, so I graduated dental school in 2015. I did a residency through the military, so I joined the |
| 1:23.6 | Navy right out of dental school, so I did a residency through them and then kind of been practicing |
| 1:29.6 | in the military through the Navy since about 2020, as when I separated. So right in the middle of |
| 1:35.8 | COVID is when I decided to get out and buy a practice, which may not have been the best timing |
| 1:41.2 | in time, but in hindsight it worked out. So your residency was what, general dentistry or what? |
| 1:48.6 | Yes, it's a AEDD is what they call an advanced education in general dentistry, so I chose that over |
| 1:54.8 | as a GPR. Okay, and what part of the country in now? Some in the southeast. Southeast, is that where |
| 2:01.4 | you were with the military too? So we were kind of stationed a little bit. I never got to go overseas. |
... |
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