I would like to make an announcement today:
After forty years as a practicing dentist and erstwhile “businessman” here in Philadelphia, I have sold my practice to a local dental conglomerate. To answer three obvious questions before I begin: yes I have a contract for up to eight years to practice in my former office, yes I got my price which was substantial, and yes I’m very happy and by any measure, an excellent, devoted employee.
All that being said, I want to express the reasons I sold my life’s work. First, I’m 66 years old and you can make a case that the practice is at its peak value. Second, the technology of modern dentistry requires a huge investment which in no way could I afford and it is unfair for my loyal patient population to not have access to the best care possible. We are talking perhaps $300,000 in investment which for me would have been catastrophic economically because the combination of diminished returns due to insurance reimbursement and rapid depreciation of such assets would essentially bankrupt my retirement. Third, as a dentist you never know when you’ll have a career-ending injury or condition/disease. Back issues, neurological issues, cardiac issues, and of course cancer (which is very prevalent in the dental population educated in my era - due in no small part to massive exposure to horrifyingly dangerous chemicals utilized in those days, not a danger to patients but definitely to practitioners/students).
Fourthly, and possibly most importantly, we are headed to a recession through which I would not survive economically. Many years ago in Aphilly there was a bookstore chain called Encore Books. The owner is and was a very shrewd and sharp guy. The day Amazon announced that it would be selling books online, he put his business up for sale and I believe that Rite Aid purchased it for millions. It failed in the short run. The point is you have to know when to get out. If this bastard in the White House does what I think he’s going to do , we are in for a rough ride. I’ve managed through several recessions, the last one nearly (literally) killed me. I wasn’t going to go through it again. No way no how
I’ve been here at DU for over fifteen years and consider it like my family but better. I look forward to many more years communing with all of you and fighting the good fight. I would suggest that we temper our angers manifest during the primaries and focus upon the singular goal of defeating the malignantly narcissistic sociopath and his minions. Good luck to us all and good luck to The United States of America.
= new reply since forum marked as read
Slowing down is a good thing after a lifetime of serving others. Do something fun!
New opportunities will arise, you can always work when you want to, and there's a lot to be said for not having your day taken up with just one thing. You did your time in the workforce and now is the time to enjoy some other aspects of life. It's time to smell the roses.
And so much wisdom in only four paragraphs!
Seriously, congratulations! I sincerely believe you are making a wise move.
for what it's worth, I think you did the right thing.
Oh and GO EAGLES!
What a difficult decision to make ...
I hope your future is bright and good.
Personally, I think being under contract for an additional eight years is too long ... I hope you can revisit that part, so that you have more time and energy for yourself and the fight ahead.
Thank you for all the years and friendship... I look forward to many more
Good luck 
A very wise decision. 
I'm 68 and I retired 2 years ago. You're keeping your hand in, but you're planning to eventually step away without inconveniencing your patients. Enjoy your golden years, and good luck in the future.
Are you gonna get newer magazines?
As a person who has spent his life in dentist chairs and has seen the technology change over the last three decades, I would love to read a book on the history of dental technology, its implementation and impacts on American society and economics.
very interesting and enlightening view into the current economics of your profession.
And, you're so right of course!
I congratulate you for your prudence and foresight, and wish you the very best as an "excellent, devoted employee".
I also laud you for carefully assessing your age, and the risks of possible exposures to chemicals. In essence you are affording yourself a slow entry into the phase of retirement, keeping away from you a lot of the stressors that would not make it as glorious a time as it can be.
Ask me how I know .
For all your contributions, your honesty, your brilliance and eloquence on this board I want to personally thank you. I have been positively impacted by all of it.
I want to say, for all practical purposes, that I love you.
I get all that. We recently made a dramatic course correction, ourselves, by downsizing and leaving LA. Looking ahead as realistically as possible.
I’m your same age, btw. Rolling on down “Route 66.”
I wish you many, many, many happy and healthy years to come.
Last edited Tue Nov 14, 2023, 08:05 PM - Edit history (39)
As one of the fifty-somethings pushed out of the job market by the previous recession, I had to live on, and consequently lost, my private pensions (got evicted, too -- but thanks to generous DU-ers, endured only one night of homlesseness). Fortunately, I had earned enough during my working years to make the social security clerk's eyes pop when I filed for early retirement. But rather than taking up knitting and chair-rocking, I invested one of my checks into turning what I had enjoyed doing when not working into a permanent part-time venture -- and adventure.
So congratulations on crossing the rat race finish line with the ability to determine how to live out the rest of your life on YOUR terms (very wise of you to not stop working "cold turkey"). Now the only "investing" left to be done is in enjoying yourself as long as your health (and wealth) permits!
rocktivity
with some short term options available post-sale.
And I miss Encore Books. Used to go to one not far from me and was highly upset when it was shuttered (leaving me with Barnes and Noble, where the one nearest to me was eventually shuttered too). 
Our family dentist (and friend) of many years retired 3 years ago, because his back could not take it any more. He didn't have the digital radiograph equipment etc and I suspect, like you, did not want to spend his retirement funds to buy it at this late date.
He sold to a younger dentist who is fine, and some of the old staff is still there. But since it is 30 miles one way, and in SoCal traffic it can take an hour to get there, I'm hoping to find a new practice closer to home. I'm sure your loyal patients will miss you as we miss our friend. But I'm also glad he is still young enough and fit enough to enjoy the rest of his time here. I hope you can do the same! Cheers!
...I too sense difficult times ahead for our country. Fight the good fight!
Just retired from teaching myself, and so far, so good. Am enjoying not HAVING to get up and go to work, but with subbing, can do it if I want. But I know how you feel. With Trump's blessings, DeVos is decimating public education, and since new teachers are cheaper to hire than those of us with experience, combined with her love of charter schools and diverting public funds to private schools, the writing is on the wall. But I see it as more time to fight Trump. I can get to rallies now, write letters, and spend time on hold at my rep's officee.
And BTW (probably on a few folks here will understand this), I was born and raised in the Philly area. Grew up in NJ eating cheesesteaks, TastyKakes, the world's best soft pretzels, and graduated from (then) Glassboro State. But then I moved to Chicago, and married a man who's last name was (wait for it) Mummer. Go figure.
Looking forward to many more years here at DU.
If you’d like to try your hand at it with a bit of your free time, DU can use another forum host!
(Any other DUers who are interested, please sign up, too!)
Off load the stress, build security and enjoy your happy retirement ahead.
From the granddaughter of a wonderful dentist, neighbor, relative and professional.
My husband and I stepped out about 2 years ago and didn't look back. Our only regret is we didn't unload our house sooner and now the property is sitting on the market like a forgotten orphan. Family obligations (caring for my mother-in-law) precluded an earlier sell date so if we have to sit here a few more years so be it. Oddly enough, our plan is to move back to the Philly area, closer to family and friends.
It sounds as if you thought the process through and the fact you can still practice is the best of all worlds.
Good luck. But somehow I don't think you'll need it!
I quit gainful employment 20 years ago and still enjoy it.
Yes, I think you're getting out at the right time.
Our dentist (and good friend) just retired this year for much the same reasons you state.
Same age as you.
Come see us at the Seniors Forum.
Best of luck to you!
The pediatric practice at which I have been a nurse practitioner for the last 23 years of my 43 year career is part of an 11 practice consortium that banded together to avoid being bought by a hospital corporation. This happened 6 years ago. We were assured that this would allow us to maintain our individuality - we wouldn't have some impersonal giant conglomerate telling us how to run our practices. Sounded good.
This has turned out to be a complete crock. The board of the consortium has decided that each practice needs to do things all the same way. There is now a huge focus on billing, and following insurance company dictates so we can earn bonuses if optional immunizations are before a certain age, even though there is no particular clinical benefit to the kids to do so. This stuff offends the hell out of me. Add on the extra 2-3 hours a night I spend, on my own time, completing electronic charting that I cannot get done during the office hours, and the job isn't much fun anymore.
I'm 68 now, and planning to retire by 70. Some days, I'm not sure I'm going to last that long. Thank goodness I only work 2 days a week.
I'll miss seeing newborns once I retire, but not much else.
Tip of the hat to you for finding a good path -
