The average American retires at age 62, but the average retirement age for dentists is 69.
Financial Considerations
The average dental student takes on anywhere from $200,000-$400,000 in debt when they are done with school. This does not include loan interest that can easily add another $100,000. The most frequent range of monthly, pretax retirement income needed for dentists is $8,000 to $12,000 per month in today`s dollars. The average retirement savings needed for today’s dentists will typically be between $1,500,000 and $2,500,000.
Dentists’ Retirement Age
What’s interesting is that the typical dentist earns more than three times the average American. Retirement age is up to each individual person as some semi-retire by working part time. Some retire from being active dentists but then teach or contribute to dentistry. Historic data show that more dentists may opt for an earlier retirement during the down economy as the average age of dentists at retirement dropped in the last recession.