Financial Planning Updates Inspired by South Park

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Dentists, Puns, and Money

Shawn Terrell

104 episodes

2 weeks ago

Dentists, Puns, and Money is a podcast focused on two things: The financial topics relevant to dentists leaving clinical practice and the stories and lessons of dentists who have already done so. 1. The stories of dentists who have transitioned from full-time clinical dentistry. 2. The financial topics that are relevant for dentists making that transition. If you’re a dentist thinking about your exit from clinical, and you’d like to learn from the experiences of other dentists who have made that transition, be sure to subscribe to your favorite podcast app. Host Shawn Terrell also dives deep into the many financial components of exiting dentistry, including tax reduction strategies and how to live off your assets. And, we try to keep it light by mixing in a bad joke… or two. Please note: Dentists, Puns, and Money was previously known as The Practice Growth Podcast until March 2022.

All content for Dentists, Puns, and Money is the property of Shawn Terrell and is served directly from their servers with no modification, redirects, or rehosting. The podcast is not affiliated with or endorsed by Podjoint in any way.

Entrepreneurship

Business,

Investing

Financial Planning Updates Inspired by South Park

Dentists, Puns, and Money

7 minutes

10 months ago

Financial Planning Updates Inspired by South Park

In this episode, Shawn Terrell discusses essential financial planning strategies for dentists in 2025, focusing on key numbers that will impact retirement savings and tax planning. He highlights the importance of understanding catch-up contributions, especially for those nearing retirement, and provides resources for listeners to access updated financial information.

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Takeaways

Important financial numbers go up every year.
Catch-up contribution for 2025 between age 50-59 is $7,500.
The maximum qualified plan total deferral is $34,750 for ages 60 to 63.
Tax deferred accounts can be crucial for late-stage dentists.
The Secure Act 2.0 introduced new catch-up limits starting in 2025.
Roth IRA and Traditional IRA contribution limit is $7,000 for 2025.
Download all the important numbers for 2025.
Late-career dentists may be able to stuff a little bit more money away.
Understanding these numbers is vital for financial planning.

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Resources from Episode

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Dentist Exit Planning:

Website: dentistexit.com

Email Shawn at: shawn@dentistexit.com

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Sign-Up for Dentist Exit Email Newsletter

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