As I approach my 30th year as a dentist, my advice to you is to start you retirement account right away. Cut cost where you can. Delay buying a fancy car. Pay down the debt and put the maximum you can into your retirement account. My wife (also a dentist) and I started our retirement by the 2 year of starting a practice from scratch. Now she thanks me that I forced ourselves to contribute the maximum for retirement while we drove a older car and we usually ate at home. I have heard too many stories of dentist in their 50s who have not started their retirement account and can never afford to retire. Meanwhile, we paid for private education for our kids and we paid for all the tuition for a Ivy League education for both kids (we were blessed they both got accepted). It was a priority to us and we made it happen. Remember, “ Don’t keep up the Jones. What you see is not always what it seems.” Best of luck to you.
medical/doctor/pharmacy/bio-chem/etc is one of the degree that worth it going to university. I'm one of unlucky one going to great univ and choosing computer science. high in debt , competing in saturated field with most of my peers making the same money with no college degree at all. Yes, I keep up with technologies but can't keep up with tech certifications. Tech moving so fast, university can't keep up, still teaching calculus, chemistry non-sense while the industry need certifications. Tech companies valued certifications and code portfolio (github) than 4 year degree even master program is outdated.
I love how you're so straightforward; like other dentists/doctors would never share their incomes but you're different, you talk about things that actually matter. Thank you!
@Joe Kinchicken She is of Korean ethnicity if I'm correct. And, that is why she has Asian eyes. Very strange giving advise on medical degrees and then criticizing her eyes. Very strange.
Dave Ramsey's suggestion would be to live on the $40k and pay $100k a year towards student loans so that you can be free of student loan debt in 4 years. Live like nobody else so that in time you can live like nobody else.
Jasmine Sofia most people who sign up for loans did it right after high school when they did not know anything and were asked to sign. You can either blame the students for taking it out, or you can have empathy for their situation... understand that when someone applies for a loan as a young adult, they do not understand the nuances in the pay of the career they are entering. In my case, I owe $508,000 from medical school. Medicine didn’t work out and I am not practicing medicine or able to work. Based on your logic, I shouldn’t have taken out the loans and tried taking a shot at medicine. Seems like you feel that people in these situations should be punished for life. Keep defending the rich, fuck the poor.
@@CNT536 America should at least enable students to file for bankruptcy on these loans. People can file for bankruptcy on cars,boats, and whatever personal goods they want to buy. It's time to allow students the same privilege similar to how businessmen can reset after a failing company. I don't understand why students can't. Maybe if they could creditors would think twice about loaning hundreds of thousands to 18 year olds.
Jay Ken the reason that students can’t is because the laws are written that way. The reason the laws are written that way is because lobbyists are hired by these companies, and they are able to bribe politicians to pass laws that benefit them (and hurt normal American people) The key is to vote these corporate assholes out and get guys like Bernie in The jasmine person in this convo deleted her messages, most likely because she did not like to be exposed that she was wrong.
I am a dentist 2 years out of school. Great insight to the other aspiring and young doctors. Luckily I chose military practice so I will be debt free in 2 more years.
The Brown Sean from my understanding for every year they pay for your schooling you will owe one year of service. So, 4 years of service in exchange for 4 years of schooling paid for.
Hector Martinez you’re assuming that’s what she does. In reality doesn’t do that and people love to upgrade their lifestyle once they get a taste of that type of money
Christian Soldier sadly that’s not reality for most. People love to live better lifestyle when they get more money and put debt in the back of their mind
As a dentist and practice owner myself, I would encourage any considering this profession to think twice about it. Managing patients, staff and the business side of it all is a continuous headache.
Plus these practice management places make you treat very aggressively and fill anything a diagnodent beeps at. Yeah case acceptance is bad when patients figure out what's up
i love you. these are things they don’t tell us about going into dental. they make it seem like rainbows and butterflies. please continue with these. ♥️♥️
Definitely a monster looming over your life --> grad school debt. It definitely has helped get me over the 6 figure mark as far as salary is concerned though. I guess you just take what's manageable and don't have overly optimistic hopes of post-grad income. Great video Wendy! Thanks for posting!
Dr Wendy, thank you for your honesty and openness about the dental profession, especially about the debt and the “glamour” of dental practice. Unfortunately your videos don’t garner the number of views that they deserve. Dental schools continue, as they had in the past, to prey on the ignorance and lack of financial literacy of these young aspiring dentists about the realities of graduating with so much debt and the detrimental impact on their lifestyles. There is another vlogger who is currently a USC dental school who commented on dental school debt. I was appalled when she described how she was told during orientation by the financial director that “it’s going to be okay.” As a USC dental alumni, I can safely say that taking on the debt was one of the worst financial decisions anyone can make. Again thank you for your videos.
Thank you Wendy for the videos. I will be attending dental school this upcoming year and the tuition for my school is about 90k a year so I'll be out with around 500k in debt. Your info on the outlook of employment was helpful. Can't wait for your next video.
How is dental school? Is it difficult? I hear the first year is the hardest with the heavy workload. I’m a freshman in college and seriously considering pediatric dentistry but I’m not sure I want to own my own practice or go to school for 10+ yrs
@@cerealis_5432 it varies depending on what school you go to and their curriculum, but from my experience and friends from other schools, your first 2 years will be mostly class and lab based. You’ll be hit with a lot of science classes at first to set a good foundation. Once in a while, they’ll send you up to assist the upper classmen so you can get a feel for clinic. 2nd year was the worst for me because of the amount of classes , lab projects and NBDE board exams. That will probably be different for you since they have decided to integrate NBDE pt 1 and 2 together now . 3rd year will be about 50/50 in class and in clinic seeing a patient. 4th year is almost exclusively in the clinic with a couple of random classes here and there. Overall, there will be a lot of stressful times but it’s definitely doable. Make good friends, help each other out , and the 4 years will breeze by before you know it.
Hi Dr.Wendy, Iam new to your channel and found it to be interesting. I love how transparent you are and how you take the time to explain things. Looking forward to watching more of your videos and maybe answer questions if I have anything I need to know.
My dentist retired a few months ago. I"ve been seeing him since I was 12 (I'm 48 now). He was relatively new to the trade when I first saw him and his practice was quite modest and lived quite frugally the first few years to pay off his student loans. Now decades later, he's kicking it somewhere in the Bahamas. My new dentist is in the same spot as you are now and about your age. He's cooler than my previous one and have no doubt he'll pay off his loans in no time.
180k is not going to pay off 400k with ease. After taxes, your at 130k. Interest on a 400k note is 26k. To even tackle the principle in 10 years, your down to 60k. You would have to live on bare minimum. Super difficult
@@DrWendy I love your honesty. Did you truly have a dream of wanting to be a dentist but learned all the negatives of the profession once practicing OR did you kind of study dentistry because of the pressure from your parents?
Another downside of DSOs is the high number of DHMO insurance plans they accept. Someone does have to accept these insurance plans I guess, but you end up doing high volume and risk burning out physically and mentally. I was even a clinical director for a DSO for a year and a half and did not like the amount of pressure and sales tactics the corporations wanted to implement in our region. I finally took the leap and just opened my own practice 3 months ago. It’s a lot of work but I love the autonomy I have. The downside is in most cases you’re taking on more debt. I was fortunate enough to go to an in-state dental school and my parents also helped me out some. Anyway, great video and always love hearing from other dentists!
thank you for the honesty and information! I am in between the DAT and MCAT and im not sure which way to go. Hopefully whatever I do leads to a good, happy life!
Great video and yes, all that debt is worth it. I count mortgages of my various properties as "investments" and you should think of payment on your loan likewise. Good Luck
I know someone who went into the United States Air Force as a dentist officer for only 2 years and they paid his FASA debt. The funny thing is he didn't like the military and really didn't enjoy it.
Learn to code. Six figure + income and zero debt. But I absolutely appreciate my dentist. She is taking over her father’s practice which speaks to one of your points in regard to opportunity.
You're very wise and have a very good understanding of living in the real world. Paying off loan(s) should be the first major thing to concentrate on once working. Eventually, the other things in life will come. Too many times you see young graduates starting a career and spending their earnings instead of paying down their debt and saving for the future. You'll do well, and you have a beautiful smile! Who's Your dentist? lol
Thanks for being so honest and open about this. Very helpful! Any updates on your debt payment journey? Graduating in may and wondering how I should tackle my student loans. Also any advice to new associates? Thanks!
I suggest you go into private practice as soon as you can. You have a lovely bedside manner and your patients will love you, and send you friends and family. Treating family’s, friends, and seeing them over the years is a wonderful life. You also can have autonomy to do the dentistry that they need. When you work for someone else like a corporation it isn’t the same. The more personalized dentistry is, the better. Moving after a rapport has been established is a real loss to both parties in the doctor-patient mutual trust relationship. Cherish and nurture that.
Hello Wendy! I'm also Canadian student hoping to go to US dental schools. How diversely did you apply and how hard did you find the process of getting accepted? Thank you for your videos!
Can I ask why you didn't go to dental school in Canada and then come down? Twenty years ago, even though I really wanted to go to the US, I decided to stay at McGill and attend medical school there for next to nothing. As a result, I graduated with no debt and came to the US for residency and practice. I felt I got the best of both worlds. Thanks for sharing your story!
I’m so glad I didn’t go to school. I just started saving money straight out of high school. Bought a duplex and lived in one side. Long story short I’m in my early 30’s and have zero debt and a few rental properties. I also have a blue collar job that I actually enjoy that pays about $65,000 a year. I know it’s not a lot, but with the rental money I make close to $100,000 a year, and my retirement is solid. My 401K is icing on the cake.
Nice J H. Take some Small Business Management classes and find a mentor (someone that has excelled, and you trust) that started their own business. Your "Blue Collar" job is great now, but as you get older and with more experience, you should look to running your own small business. Those that go it on their own, hire some workers, make a good penny. Good luck!
moocowman101 Roommates and overtime. I kept my expenses as low as possible and worked 60-80 hours a week. Either overtime or by working a second job. It’s easy to not spend money when you don’t have a life lol. A kid fresh out of high school I had zero debt. I think it’s ridiculous that we teach our teens that the very first step they should take into adulthood is to go into $50,000 worth of debt.
Thank you for the video. I have a one question. What do you think about idiopathic pulmonary fibrosis? The number of dentists treated for idiopathic pulmonary fibrosis (IPF) at this Virginia tertiary care center was about 23 times higher than expected. Is that true? Hope it’s not true... please let me know what you think when you have a chance. Thank you.
Thank you for the insight! I'm starting DMD in the fall and appreciate your words! Do you have any updates on if you decided to move/ change offices or something! Thanks!
Thanks for making this video! Is it really that easy to find a job after dental school? How much would you work and get paid if you worked as a dentist in one of those "greedy" dental corporations?
I really appreciate this. I just finished my undergrad. I’ve been contemplating between dentist school vs. pharmacy school vs. med school. Originally, I’ve always wanted to go to pharmacy school however I’m really considering medical and dentist school. Pharmacy seems to have a gloomy outlook. I never really considered dentistry bc I felt like no one likes doing to the dentist and I wanted to do something that helps and makes people happy. But I’m been looking into cosmetic dentist and it’s really wavering my decisions.
My advice is to avoid healthcare in general. But if you had to choose amongst those three pick the one that you know will give you the most fulfillment and you have to pay the least amount of student loans.
You could just study in a cheaper uni or in a cheaper country you can get a full dentistry degree for 8k in many places. Is the name of the uni and its prestige really that important ?
I’m 31 years old. My house mate is 33 years old. We live in California. I did not go college. My house mate went to Stanford University. I make between 100k - 120k a year selling stuff on eBay and Amazon. He makes about 85k as a resident Doctor. I have $0 debt. He owes over $300,000 in student loans. My point is, college is a RIP OFF. It is not needed for someone to be “successful”.
You don't need college to be "successful", but I'm pretty sure everyone wants their doctor or dentist to have gone to college to receive adequate training and education.
DasniWater Of course. Professions like dentist, physician, surgeon, etc, you need proper education... my point is college rips off students. Education mandatory or not... college degree does not guarantee success
This is why I never went to dental school. Did an Masters in finance and first job landed $110k. Had only $120k student debt and making $240k now. Problem with dental school is you are really stuck in only one career rest of your life. If you do a leading Masters degree or top MBA then there are many career choices you can swap to.
Hello Wendy, Great insight for the younger generation. Okay I will try to keep this short. The cost of school today is truly crazy, BUT if you get your typical job paying 130-180 per year you can pay off that debt in 5 years. Obviously you need to live below your means (which the younger generation has a hard time doing). Live with a roommate, drive an older car and before you know it, you are debt free. At that point you then have the decision to save for your own practice or to continue being an associate (contractor). Here in CA, there are Dentist everywhere (disclaimer, I am not, but my wife is). You have to be willing to work for several different companies/offices and you have to be willing to work! Now with that being said, my wife is making the same amount as she did eight years ago. Which means, the more Dentist available, the harder it is to raise the bar for base pay. BUT making a minimum of 130K here in CA (if you work, it is impossible to make less) is nothing to sneeze about if you are smart with what you do with your money. So yes, go to the cheapest school, but once out, you must be a go getter and make some money. Live less and in five years you can live anyway you desire!
Omg please do a follow up. I’m currently trying to decide between dentistry and hygiene. I would love to know about you rent and the car you drive and all the perks
How did you take the loans as an international student? I am a junior year student in Houston from Venezuela and I wanna go to dental school and my biggest fear is money. I could never afford dental school and I do not know where could I find loans since am international student.
I have a friend that's a pediatrician, she got out of debt really fast with these easy steps. 1. She got a few DR. friends to write up medical evals to declare she was a cronic cripple. (which kind of bars a person working in the U.S). 2. She got a job in a foreign country overseas. 3. Got a few citizenships elsewhere and moved out of the U.S, and ended her american citizenship.
In the netherlands it cost around €15.000 to be a dentist. €2500 per year. But it is difficult to get into. And the start salary is €42.000 and the average income is €99.000
How much do you pay a year for student loans? Dentists make an average of $164,000 a year, but what is the take home pay actually like when you are paying student loans? $100? $60k?
It’s kinda funny how this pop up on my feed. I got made fun of because I decided to go the IMG route for medical school. I’m dual citizen and decide to go to my parents home country of Mexico. 40,000 dollars for 6 years of medical school. scored 250 on my step one and currently doing my residency in Texas. Meh I feel for you guys
Med student who is an American who chose to go to med school abroad. It is very risky bc they have a 50% match rate into residency vs 90+% for md and do students Although most imgs go to Caribbean’s and have worse grades who probs can’t get a 250 in the first place on step 1 so this def rare circumstance
Hi Dr. Wendy, do you have an e-mail we can ask you questions at? I'm a Canadian student with some questions about dental school and a career in dentistry!
This is why I go to the Philippines once a year and everything (including cleanings) done there and pay out of pocket and get great care for pennies on the dollar.
so do you think for doing residency the ranking of the school matters? Do you have a greater chance of going somewhere better because of the dental school you went to? What if you went to a cheap state school that was lower ranked? Thanks
Hello! I am a recent graduate from a US dental school and also Canadian! Would love your advice on some things in regards to our scenario since you’re a few steps ahead of me!
Student loans here in Montreal do not exceed 100 000 CAN$ for the 5 years program. I also feel so lucky to still live with my parents so my student loans are less than average.
Hi Wendy! Just wanted to ask your opinion. If given the chance, would you go to a cheaper school outside the country even if it’s less quality of an education? This is for an International Dentist Program. For me,Im looking at the possibility of going to USC ASPID which is approx $260-280k for the two years OR newly approved IDP IN Moldova which is in Europe which is about $150K for 2 years. Just curious if you still think it’s better to go for the cheapest school in this case, but of course would take your input as a grain of salt. Thanks so much!!
I work at a college that has a Dental school and interact with many of its students as part of my job as well as a patient. One option that future students might want to explore is the military. Each branch has programs that will pay up to 4 years of dental school. You have to join the military first and get accepted to dental school before you apply for the scholarship program. Obviously one has to have an undergraduate degree before they can pursue dental school. One student I know worked as a Hygienist for a few years before deciding to pursue dental school. She joined the Army and because she was already a college graduate she held the lowest officer rank, I believe 2nd Lieutenant ( correct me if I'm wrong) she got accepted at dental school but because of timing she missed the cut off date to apply for a 4 year scholarship so she applied for the 3 year. Only issue with that is the ones that didn't get a 4 year scholarship get placed in the pool of candidates for the 3 year which made it more competitive. But she got picked for the 3 year scholarship and her job in the Army was to go to dental school. They pay 3 of the 4 years plus she received monthly living expenses. When she graduated she automatically gets promoted to the rank of Captain. I believe she has to make a commitment to the Army for 3 years maybe a little more. But she doesn't have all that debt and she gets a lot of experience. The military isnt for everyone but its an option one should look into. Obviously there are certain standards that have to be met like grades and you don't have a choice on where you want to be stationed once you graduate. Another student I know rejoined the Army to pursue dental school and she said, in her words, "I won the lottery" because she got a 4 year scholarship. We also have several students in our medical school that are either currently enlisted or are planing to join the service after graduating and take advantage of programs that will pay off a good chunk of thier debt. As I said the military isnt for everyone but for those who have what it takes it certainly can make a big impact as a new dentist, doctor, nurse and PT and OT.
The insurance comparison was quite valuable. I didn't know any state would have insurance that covers 100%. I'm guessing that was a result of a good local employer, not the state but IDK.
I am also an immigrant in Canada .. an accountant wanting to change my field into dentistry .. this summer I will be starting my pre req for dentistry but I dont have much extracurricular activities back from my graduation from India ... so do you think it will be a deterrent in my admission to dental colleges ?
As I approach my 30th year as a dentist, my advice to you is to start you retirement account right away. Cut cost where you can. Delay buying a fancy car. Pay down the debt and put the maximum you can into your retirement account. My wife (also a dentist) and I started our retirement by the 2 year of starting a practice from scratch. Now she thanks me that I forced ourselves to contribute the maximum for retirement while we drove a older car and we usually ate at home. I have heard too many stories of dentist in their 50s who have not started their retirement account and can never afford to retire. Meanwhile, we paid for private education for our kids and we paid for all the tuition for a Ivy League education for both kids (we were blessed they both got accepted). It was a priority to us and we made it happen. Remember, “ Don’t keep up the Jones. What you see is not always what it seems.” Best of luck to you.
This is some of the BEST advice EVER!👍🏾
Thanks for the advice!! I start dental school next year.
You are the prototype of The Millionaire Next Door.
medical/doctor/pharmacy/bio-chem/etc is one of the degree that worth it going to university. I'm one of unlucky one going to great univ and choosing computer science. high in debt , competing in saturated field with most of my peers making the same money with no college degree at all. Yes, I keep up with technologies but can't keep up with tech certifications. Tech moving so fast, university can't keep up, still teaching calculus, chemistry non-sense while the industry need certifications. Tech companies valued certifications and code portfolio (github) than 4 year degree even master program is outdated.
Doesnt keeping up with the joneses also apply with private school ivy league? Choosing that over a state school means paying more for the same.
I love how you're so straightforward; like other dentists/doctors would never share their incomes but you're different, you talk about things that actually matter. Thank you!
yea stop it. ur a russian asset.
I mean at least be a Dr. not chiropractor, dentist. Be an anesthestogist* or surgeon.
@Joe Kinchicken #savage
Joe Kinchicken you must be jealous you can’t get a tan you turn red like a chili pepper.
@Joe Kinchicken She is of Korean ethnicity if I'm correct. And, that is why she has Asian eyes. Very strange giving advise on medical degrees and then criticizing her eyes. Very strange.
Ughhhh I love how transparent you are.
Dave Ramsey's suggestion would be to live on the $40k and pay $100k a year towards student loans so that you can be free of student loan debt in 4 years. Live like nobody else so that in time you can live like nobody else.
Dave ramsey doesn't account for taxes on incomes.
Vote for Bernie Sanders and he will wipe out all student debt by taxing the wealthy.
Jasmine Sofia most people who sign up for loans did it right after high school when they did not know anything and were asked to sign. You can either blame the students for taking it out, or you can have empathy for their situation... understand that when someone applies for a loan as a young adult, they do not understand the nuances in the pay of the career they are entering. In my case, I owe $508,000 from medical school. Medicine didn’t work out and I am not practicing medicine or able to work. Based on your logic, I shouldn’t have taken out the loans and tried taking a shot at medicine. Seems like you feel that people in these situations should be punished for life. Keep defending the rich, fuck the poor.
@@CNT536 America should at least enable students to file for bankruptcy on these loans. People can file for bankruptcy on cars,boats, and whatever personal goods they want to buy. It's time to allow students the same privilege similar to how businessmen can reset after a failing company. I don't understand why students can't. Maybe if they could creditors would think twice about loaning hundreds of thousands to 18 year olds.
Jay Ken the reason that students can’t is because the laws are written that way.
The reason the laws are written that way is because lobbyists are hired by these companies, and they are able to bribe politicians to pass laws that benefit them (and hurt normal American people)
The key is to vote these corporate assholes out and get guys like Bernie in
The jasmine person in this convo deleted her messages, most likely because she did not like to be exposed that she was wrong.
Thank you for being so transparent! It’s hard to find videos like this where the person is straightforward about things. Thanks again!😊
I am a dentist 2 years out of school. Great insight to the other aspiring and young doctors. Luckily I chose military practice so I will be debt free in 2 more years.
Air Force or Army? Can you share your experience I am also highly interested in this path. I’m still in undergrad and graduate next year.
Yes, please do
but don't you have to be in contract with them for sometime ?
The Brown Sean from my understanding for every year they pay for your schooling you will owe one year of service. So, 4 years of service in exchange for 4 years of schooling paid for.
@@JeremiahRaem years ago it was only two years
Dental school tuition is absolutely insane! Thank you for your honesty and keeping it real. The information you provided was very useful.
So 400k is only student loans. Keep in mind that doesn't include house mortgage, car loans, plus other expenses. That's insane.
Lets see a chart of that, if you can make a monthly/yearly one.
Hector Martinez you’re assuming that’s what she does. In reality doesn’t do that and people love to upgrade their lifestyle once they get a taste of that type of money
magnum0173 If a dentist lives on the bare minimum for a few years they can knockout their debt easily
Christian Soldier sadly that’s not reality for most. People love to live better lifestyle when they get more money and put debt in the back of their mind
No really half goes toward taxes
As a dentist and practice owner myself, I would encourage any considering this profession to think twice about it. Managing patients, staff and the business side of it all is a continuous headache.
agreed!!!
Plus these practice management places make you treat very aggressively and fill anything a diagnodent beeps at. Yeah case acceptance is bad when patients figure out what's up
That’s every business. But I hear ya.
What would you have done different ??
I took a military scholarship and think about staying to get the pension so I don't have to deal with the headaches.
i love you. these are things they don’t tell us about going into dental. they make it seem like rainbows and butterflies. please continue with these. ♥️♥️
thanks!!! it's so true people need to open their eyes to reality haha
I always keep coming back to this channel for the realness! Thanks Dr. Wendy.
awww thanks so much :D:D
This is something rare to see. And I'm glad to see that someone's willing to talk about salary.
Some people don't talk about salary on RUclips because you might get paid more then your coworkers
@Just another Bird no
Thanks for being transparent, Dr. Wendy! Looking forward to more videos 💕
Definitely a monster looming over your life --> grad school debt. It definitely has helped get me over the 6 figure mark as far as salary is concerned though. I guess you just take what's manageable and don't have overly optimistic hopes of post-grad income. Great video Wendy! Thanks for posting!
I’m still waiting on that video you mentioned you would upload! Love this❤️
I love your realistic point of view! Thank You!
Great video! Very direct & to the point! The title was accurate, + you gave us so much more info! Thanks
i love your videos so much! can't wait for the next one following this topic because no one talks about this stuff when its so important to!
haha agreed!!!
Yasss another video!! Please do a expenses/budget video. You are awesome
thank you!!!!
The transparency earned my sub! Thank you :)
Dr Wendy, thank you for your honesty and openness about the dental profession, especially about the debt and the “glamour” of dental practice. Unfortunately your videos don’t garner the number of views that they deserve. Dental schools continue, as they had in the past, to prey on the ignorance and lack of financial literacy of these young aspiring dentists about the realities of graduating with so much debt and the detrimental impact on their lifestyles.
There is another vlogger who is currently a USC dental school who commented on dental school debt. I was appalled when she described how she was told during orientation by the financial director that “it’s going to be okay.” As a USC dental alumni, I can safely say that taking on the debt was one of the worst financial decisions anyone can make.
Again thank you for your videos.
aw thanks so much for your feedback!
Wow insightful
Thank you Wendy for the videos. I will be attending dental school this upcoming year and the tuition for my school is about 90k a year so I'll be out with around 500k in debt. Your info on the outlook of employment was helpful. Can't wait for your next video.
glad it helps! good luck :D
How is dental school? Is it difficult? I hear the first year is the hardest with the heavy workload. I’m a freshman in college and seriously considering pediatric dentistry but I’m not sure I want to own my own practice or go to school for 10+ yrs
@@cerealis_5432 it varies depending on what school you go to and their curriculum, but from my experience and friends from other schools, your first 2 years will be mostly class and lab based. You’ll be hit with a lot of science classes at first to set a good foundation. Once in a while, they’ll send you up to assist the upper classmen so you can get a feel for clinic.
2nd year was the worst for me because of the amount of classes , lab projects and NBDE board exams. That will probably be different for you since they have decided to integrate NBDE pt 1 and 2 together now .
3rd year will be about 50/50 in class and in clinic seeing a patient. 4th year is almost exclusively in the clinic with a couple of random classes here and there. Overall, there will be a lot of stressful times but it’s definitely doable. Make good friends, help each other out , and the 4 years will breeze by before you know it.
Hi Dr.Wendy, Iam new to your channel and found it to be interesting. I love how transparent you are and how you take the time to explain things. Looking forward to watching more of your videos and maybe answer questions if I have anything I need to know.
I wanted to be a dentist when I was younger but didn’t go and went into policy and government instead. Love your channel.
Thx so much for being so candid
My dentist retired a few months ago. I"ve been seeing him since I was 12 (I'm 48 now). He was relatively new to the trade when I first saw him and his practice was quite modest and lived quite frugally the first few years to pay off his student loans. Now decades later, he's kicking it somewhere in the Bahamas. My new dentist is in the same spot as you are now and about your age. He's cooler than my previous one and have no doubt he'll pay off his loans in no time.
thanks!!!
Great presentation ! Thanks for rhe information on both patient and doctor dental economics
.
Your smile is as beautiful as you are.
180k is not going to pay off 400k with ease. After taxes, your at 130k. Interest on a 400k note is 26k. To even tackle the principle in 10 years, your down to 60k. You would have to live on bare minimum. Super difficult
pretty much
By living off 50k, 80k is tackled every year. Very doable for 5 years. Then glory you have all the money forever.
People pay mortgages in 6 years
WendyCinderea you are forgetting interest.
@@cinderea I would love to live on 50k a year.
@@DrWendy same boat... but rph LOL dead dead PAYE, invest invest!!!
please make more videos!!! i love you and your honesty about the reality of this career
thank you!! I will try :)
@@DrWendy I love your honesty. Did you truly have a dream of wanting to be a dentist but learned all the negatives of the profession once practicing OR did you kind of study dentistry because of the pressure from your parents?
love you and thank you for this!!💞💞💞
You are amazing. Keep doing you and continue pursuing your journey :')
I made $220k as a new grad. Lol. Secret here is to apply when there are less dentists applying for jobs - you have more negotiating power. ;)
congratulations! wow. what state are you working in? amazing
How do you know when there’s not many people applying?
What dental treatments do you offer?
I'm a graduating dental student. Thank you for the video
jay hwang luck you, was it difficult?
How’s it going? Are you enjoying dentistry?
@@cerealis_5432 It has ups and downs. Overall, I like it. Consider specialties if you are a dental student as the GP market is competetive.
Congratulations man.
Another downside of DSOs is the high number of DHMO insurance plans they accept. Someone does have to accept these insurance plans I guess, but you end up doing high volume and risk burning out physically and mentally. I was even a clinical director for a DSO for a year and a half and did not like the amount of pressure and sales tactics the corporations wanted to implement in our region. I finally took the leap and just opened my own practice 3 months ago. It’s a lot of work but I love the autonomy I have. The downside is in most cases you’re taking on more debt. I was fortunate enough to go to an in-state dental school and my parents also helped me out some. Anyway, great video and always love hearing from other dentists!
thanks for your input!!
The issue is getting into the cheaper schools. State schools are way more competitive to get into.
Not looking forward to that dental school debt! Thankfully Texas has some reasonable tuition compared to other schools! I start school in the fall!
congrats!! best of luck
Dr. Wendy thank you! 😊
Good luck!!😁
Congratulations Katie!
Jully Mahida i was a biology major, but I’ve heard of other people having nonscience degrees and they still do well!
thank you for the honesty and information! I am in between the DAT and MCAT and im not sure which way to go. Hopefully whatever I do leads to a good, happy life!
Itakunaii x hey any updates?
What did you end to choosing?
?
Dam that’s expensive . I even think about it twice on getting a 50k debt
Great video and yes, all that debt is worth it. I count mortgages of my various properties as "investments" and you should think of payment on your loan likewise. Good Luck
I know someone who went into the United States Air Force as a dentist officer for only 2 years and they paid his FASA debt. The funny thing is he didn't like the military and really didn't enjoy it.
When one is in the military it doesn't matter if you don't like it. You still have to do it. And no whining either.
Learn to code. Six figure + income and zero debt. But I absolutely appreciate my dentist. She is taking over her father’s practice which speaks to one of your points in regard to opportunity.
You're very wise and have a very good understanding of living in the real world. Paying off loan(s) should be the first major thing to concentrate on once working. Eventually, the other things in life will come. Too many times you see young graduates starting a career and spending their earnings instead of paying down their debt and saving for the future. You'll do well, and you have a beautiful smile! Who's Your dentist? lol
Thanks for sharing Dr. Greetings from Mexico
Thanks for being so honest and open about this. Very helpful! Any updates on your debt payment journey? Graduating in may and wondering how I should tackle my student loans. Also any advice to new associates? Thanks!
I suggest you go into private practice as soon as you can. You have a lovely bedside manner and your patients will love you, and send you friends and family. Treating family’s, friends, and seeing them over the years is a wonderful life. You also can have autonomy to do the dentistry that they need. When you work for someone else like a corporation it isn’t the same. The more personalized dentistry is, the better.
Moving after a rapport has been established is a real loss to both parties in the doctor-patient mutual trust relationship. Cherish and nurture that.
How much did you pay in living expenses throughout school?
Hello Wendy! I'm also Canadian student hoping to go to US dental schools. How diversely did you apply and how hard did you find the process of getting accepted? Thank you for your videos!
very sincere advice ! Thank you
It’s so different in America compared to the UK! Interesting to hear about it
Can I ask why you didn't go to dental school in Canada and then come down? Twenty years ago, even though I really wanted to go to the US, I decided to stay at McGill and attend medical school there for next to nothing. As a result, I graduated with no debt and came to the US for residency and practice. I felt I got the best of both worlds. Thanks for sharing your story!
I’m so glad I didn’t go to school. I just started saving money straight out of high school. Bought a duplex and lived in one side. Long story short I’m in my early 30’s and have zero debt and a few rental properties. I also have a blue collar job that I actually enjoy that pays about $65,000 a year. I know it’s not a lot, but with the rental money I make close to $100,000 a year, and my retirement is solid. My 401K is icing on the cake.
Nice J H. Take some Small Business Management classes and find a mentor (someone that has excelled, and you trust) that started their own business. Your "Blue Collar" job is great now, but as you get older and with more experience, you should look to running your own small business. Those that go it on their own, hire some workers, make a good penny. Good luck!
J H Keep investing in real estate. Love this. School is for some but not all.
J H How did you save up enough to buy a rental property with just a high school diploma?
moocowman101
Roommates and overtime. I kept my expenses as low as possible and worked 60-80 hours a week. Either overtime or by working a second job. It’s easy to not spend money when you don’t have a life lol. A kid fresh out of high school I had zero debt. I think it’s ridiculous that we teach our teens that the very first step they should take into adulthood is to go into $50,000 worth of debt.
moocowman101
Also I bought it owner occupied, so I only needed 3.5% down payment. FHA loan
Thank you for the video. I have a one question. What do you think about idiopathic pulmonary fibrosis? The number of dentists treated for idiopathic pulmonary fibrosis (IPF) at this Virginia tertiary care center was about 23 times higher than expected. Is that true? Hope it’s not true... please let me know what you think when you have a chance. Thank you.
Thank you for the insight! I'm starting DMD in the fall and appreciate your words! Do you have any updates on if you decided to move/ change offices or something! Thanks!
I have moved since this video :)
Thanks for making this video! Is it really that easy to find a job after dental school? How much would you work and get paid if you worked as a dentist in one of those "greedy" dental corporations?
I'm a predental student. Thank you for this!
I really appreciate this. I just finished my undergrad. I’ve been contemplating between dentist school vs. pharmacy school vs. med school. Originally, I’ve always wanted to go to pharmacy school however I’m really considering medical and dentist school. Pharmacy seems to have a gloomy outlook. I never really considered dentistry bc I felt like no one likes doing to the dentist and I wanted to do something that helps and makes people happy. But I’m been looking into cosmetic dentist and it’s really wavering my decisions.
it's a tough choice for everyone! I will try to discuss this in an upcoming video. thanks for sharing :)
Dentistry is ok, pharmacy is saturated, med school is harder, longer, and competitive. Choose what makes you happy. Best of luck.
My advice is to avoid healthcare in general. But if you had to choose amongst those three pick the one that you know will give you the most fulfillment and you have to pay the least amount of student loans.
Bill Russell pharmacy is NOT saturated!!!
@@jenGeeJushawshee unfortunately, it is. And the job outlook is not super.
You could just study in a cheaper uni or in a cheaper country you can get a full dentistry degree for 8k in many places. Is the name of the uni and its prestige really that important ?
Thank you for this video ❤
I’m 31 years old. My house mate is 33 years old. We live in California.
I did not go college. My house mate went to Stanford University.
I make between 100k - 120k a year selling stuff on eBay and Amazon. He makes about 85k as a resident Doctor.
I have $0 debt. He owes over $300,000 in student loans.
My point is, college is a RIP OFF. It is not needed for someone to be “successful”.
You don't need college to be "successful", but I'm pretty sure everyone wants their doctor or dentist to have gone to college to receive adequate training and education.
DasniWater Of course. Professions like dentist, physician, surgeon, etc, you need proper education... my point is college rips off students. Education mandatory or not... college degree does not guarantee success
Residents don't make 85k, more like high 60's in CA. Also, when he graduates he'll be making 200-250k+, depending on where he lands.
@@mitchellmimier5004 yep, that's clearly something he's not taking into consideration
This is why I never went to dental school. Did an Masters in finance and first job landed $110k. Had only $120k student debt and making $240k now. Problem with dental school is you are really stuck in only one career rest of your life. If you do a leading Masters degree or top MBA then there are many career choices you can swap to.
Woah
You should do a video about your experience too
Sounds interesting!
Great! But you're gonna always need a dentist to go to just be happy you found something FOR YOU
Wtf?? In Lithuania the average is 27k for your degree
Edit: per year
Wow interesting. What was your undergrad major? What kind of experience did u have before your Masters ?
Hello Wendy, Great insight for the younger generation. Okay I will try to keep this short. The cost of school today is truly crazy, BUT if you get your typical job paying 130-180 per year
you can pay off that debt in 5 years. Obviously you need to live below your means (which the younger generation has a hard time doing). Live with a roommate, drive an older car and before you
know it, you are debt free. At that point you then have the decision to save for your own practice or to continue being an associate (contractor). Here in CA, there are Dentist everywhere (disclaimer, I am not, but my wife is). You have to be willing to work for several different companies/offices and you have to be willing to work! Now with that being said, my wife is making the same amount as she did eight years ago. Which means, the more Dentist available, the harder it is to raise the bar for base pay. BUT making a minimum of 130K here in CA (if you work, it is impossible to make less) is nothing to sneeze about if you are smart with what you do with your money. So yes, go to the cheapest school, but once out, you must be a go getter and make some money. Live less and in five years you can live anyway you desire!
Thank you for your advice I took a screenshot shot of your comment.
What do you think about dental chains versus individual practices?
Omg please do a follow up. I’m currently trying to decide between dentistry and hygiene. I would love to know about you rent and the car you drive and all the perks
haha definitely not a perk but i will
How long do you expect it to take to pay loans back? What is the interest rate?
As a Canadian, are you able to come back to Canada to work as a dentist despite schooling in the US
How did you take the loans as an international student? I am a junior year student in Houston from Venezuela and I wanna go to dental school and my biggest fear is money. I could never afford dental school and I do not know where could I find loans since am international student.
Thank you so much for sharing❤️
How hard is it to go through dental school and actually become a general dentist? How hard is it to get a ortho residency?
Nice smile, you can get a job modeling it, and fits your profession.
You ok bro?
I have a friend that's a pediatrician, she got out of debt really fast with these easy steps. 1. She got a few DR. friends to write up medical evals to declare she was a cronic cripple. (which kind of bars a person working in the U.S). 2. She got a job in a foreign country overseas. 3. Got a few citizenships elsewhere and moved out of the U.S, and ended her american citizenship.
Omg thank you for the advice
I think it’s so important for people to spend less on their undergrad. The name on that degree does not mean anything.
In the netherlands it cost around €15.000 to be a dentist. €2500 per year. But it is difficult to get into. And the start salary is €42.000 and the average income is €99.000
Can dentists earn 200k euro in netherlands?
thank you mam for the information im planning on becoming a dentist after my AL are done thank you
what is the first-year base pay for dentists in Canada?
Subscribed. Great video !
How much do you pay a year for student loans? Dentists make an average of $164,000 a year, but what is the take home pay actually like when you are paying student loans? $100? $60k?
It’s kinda funny how this pop up on my feed. I got made fun of because I decided to go the IMG route for medical school. I’m dual citizen and decide to go to my parents home country of Mexico. 40,000 dollars for 6 years of medical school. scored 250 on my step one and currently doing my residency in Texas. Meh I feel for you guys
What's img?
Med student who is an American who chose to go to med school abroad. It is very risky bc they have a 50% match rate into residency vs 90+% for md and do students
Although most imgs go to Caribbean’s and have worse grades who probs can’t get a 250 in the first place on step 1 so this def rare circumstance
International Medical Graduate
What and where did you do your Undergrad? I’m at the U of Windsor in my 3rd year of Human Kinetics and I plan on applying to dental school next year!
western!!! go mustangs!
Hi Dr. Wendy, do you have an e-mail we can ask you questions at? I'm a Canadian student with some questions about dental school and a career in dentistry!
hello, you can direct your questions right here and I can try to answer then for you
This is why I go to the Philippines once a year and everything (including cleanings) done there and pay out of pocket and get great care for pennies on the dollar.
yes exactly , turkey and colombia as well , 70% discount compared to USA ... just go for the best clinics abroad.
So ironic as most of the top dentists and doctors in Philippines are US university graduates. 😂😅
what about Molar city in Mexico?
so do you think for doing residency the ranking of the school matters? Do you have a greater chance of going somewhere better because of the dental school you went to? What if you went to a cheap state school that was lower ranked? Thanks
I think your class rank is better than the school you go to :)
In our country most dental schools only require 100$ tuition per semester
what country is that? yeah the higher education system is a mess here in US..
Hello! I am a recent graduate from a US dental school and also Canadian! Would love your advice on some things in regards to our scenario since you’re a few steps ahead of me!
I love it
Just subscribed
Very very nice video..I'm a D2.Please talk about how to move to the US to work as a dentist.
Ty Dr.Wendy
**Dave Ramsay has entered the chat**
Hey! How did u even find the jobs in wisconsin and colorado? Do you call clinics you’re interested in? Are there websites you looked at? Thanks!!
I have amblyopia in one eye. Will I be able to study dentistry?
Student loans here in Montreal do not exceed 100 000 CAN$ for the 5 years program. I also feel so lucky to still live with my parents so my student loans are less than average.
Hi Wendy! Just wanted to ask your opinion. If given the chance, would you go to a cheaper school outside the country even if it’s less quality of an education? This is for an International Dentist Program. For me,Im looking at the possibility of going to USC ASPID which is approx $260-280k for the two years OR newly approved IDP IN Moldova which is in Europe which is about $150K for 2 years. Just curious if you still think it’s better to go for the cheapest school in this case, but of course would take your input as a grain of salt. Thanks so much!!
yes I absolutely would!
In Bulgaria dentistry is 4000€ per year
Thank you!
I work at a college that has a Dental school and interact with many of its students as part of my job as well as a patient. One option that future students might want to explore is the military. Each branch has programs that will pay up to 4 years of dental school. You have to join the military first and get accepted to dental school before you apply for the scholarship program. Obviously one has to have an undergraduate degree before they can pursue dental school. One student I know worked as a Hygienist for a few years before deciding to pursue dental school. She joined the Army and because she was already a college graduate she held the lowest officer rank, I believe 2nd Lieutenant ( correct me if I'm wrong) she got accepted at dental school but because of timing she missed the cut off date to apply for a 4 year scholarship so she applied for the 3 year. Only issue with that is the ones that didn't get a 4 year scholarship get placed in the pool of candidates for the 3 year which made it more competitive. But she got picked for the 3 year scholarship and her job in the Army was to go to dental school. They pay 3 of the 4 years plus she received monthly living expenses. When she graduated she automatically gets promoted to the rank of Captain. I believe she has to make a commitment to the Army for 3 years maybe a little more. But she doesn't have all that debt and she gets a lot of experience. The military isnt for everyone but its an option one should look into. Obviously there are certain standards that have to be met like grades and you don't have a choice on where you want to be stationed once you graduate. Another student I know rejoined the Army to pursue dental school and she said, in her words, "I won the lottery" because she got a 4 year scholarship. We also have several students in our medical school that are either currently enlisted or are planing to join the service after graduating and take advantage of programs that will pay off a good chunk of thier debt. As I said the military isnt for everyone but for those who have what it takes it certainly can make a big impact as a new dentist, doctor, nurse and PT and OT.
it is good for you to stay connecticut, people always go to dentist.
The insurance comparison was quite valuable. I didn't know any state would have insurance that covers 100%. I'm guessing that was a result of a good local employer, not the state but IDK.
you're correct
I am also an immigrant in Canada .. an accountant wanting to change my field into dentistry .. this summer I will be starting my pre req for dentistry but I dont have much extracurricular activities back from my graduation from India ... so do you think it will be a deterrent in my admission to dental colleges ?
Hi, can you make a video on applying loans for international dentist program because I want to DDS but the cost for IDP is too high. Please reply .
hello, the loans are going to be from your home country, likely a private loan!