I reckon that all dentists should be wealthy but that's definitely not the case.
Outwardly, many dentists have lavish life styles but, when you look behind the scenes, they have nothing saved and a truck load of debt. If they had to stop working for a few months they would be heading for bankruptcy.
Their lives are financial balancing acts that are kept afloat by constant hard work.
In May 1986 I was fortunate to listen to a financial advisor called Greg Stanley from Whitehall Management. His advice was so simple:
- Pay off debt
- Save money
Sounds stupid simple, doesn't it? Guess what? It works (for me at least).
How's your financial life going? Are you living in the house you want? Are you able to head off to Europe for three months without financially imploding? Do you ever struggle to meet your bills? Are you funding your retirement?
Maybe it's time to get stupid simple with your finances.
Disclaimer: I am not a financial advisor. Think it through and get independent advice before doing anything!