Financial lessons new dentists wish they knew before graduation

Dental school prepares graduates to diagnose disease, restore smiles and deliver exceptional patient care. What it often doesn’t teach is how to navigate the financial realities that come with a six-figure income, student loan debt and the long-term decisions that shape a career.

From deciding whether to prioritize investing or loan repayment to planning for practice ownership and avoiding lifestyle inflation, financial choices made in the first few years after graduation can have an outsized impact for decades to come.

The New Dentist News asked practicing dentists to share the financial advice they wish they had received when they completed dental school. Here is what they had to say.

Jenna Hyer, D.D.S.
Kalispell, Montana
"It's really tough when you graduate and all of a sudden have to deal with major financial decisions. It's hard to know where to start with student loans, but I decided to invest in other things versus putting all of my money toward paying off my loans faster. My approach was to start by paying off the loans with the highest interest first. Then, if an investment had a higher rate of return than my student loan interest, I invested there. My biggest regret is not contributing more to an individual retirement account as early as possible. By far, living below your means is the best approach of all. I drove my little Nissan Versa for many years after I graduated."

Blake Ridgway, D.D.S.
Sioux Falls, South Dakota
"In the first five years after graduation, I found it helpful to think broadly and not be one-dimensional in financial planning. I thought that when I started practicing, I would choose to pay down student loans almost exclusively. I hired a fiduciary financial adviser and, to my surprise, started executing a plan that allocated more to investing than debt repayment. Had I not invested in those early years, I would be much further behind than I am today. Being flexible and having multiple 'buckets' will set you up on a path for success."

Stephanie Hoyos, D.D.S.
Fairfax Station, Virginia
"The biggest lesson I'd pass along is to plan two to three years ahead at every stage of your career. If you know you want to become a practice owner in a few years, start setting aside savings now so that when you apply for a business loan, lenders can see a track record of financial responsibility and healthy cash flow. That may mean paying a little less toward student loans in the short term to build savings, but once you're a practice owner, you'll be able to pay those loans off much faster. Thinking ahead like this puts you in a much stronger position when the opportunity to own actually arrives."

Eddie Ramirez, D.M.D.
Portland, Oregon
"It's important to remind yourself that just because you're now a dentist, don't 'live like a dentist.' Balance your income, set financial goals and create a plan for how you're going to reach them. Don't let early financial mistakes cost you much more in the future."

Stephanie Ganter, D.D.S.
Garland, Texas
"If I could tell new dentists one thing, it would be to think beyond your first paycheck. Your greatest asset isn't your income — it's the ability to make intentional financial decisions over decades. Invest in your education, understand the business side of dentistry, live below your means early and let time work for you through consistent investing. Financial independence creates options, and options allow you to practice dentistry on your own terms. Your clinical skills may generate income, but your financial decisions determine whether you build wealth."

Akemi Arzouman, D.M.D.
Orange, California
"Find a mentor who has their financial house in order and ask how they got there. The tools and resources they recommend can be incredibly valuable. Also, invest in yourself. Continuing education courses may seem like a significant expense, but they expand your clinical knowledge while connecting you with colleagues. Those relationships can help grow your career and give you a trusted network to lean on when clinical or practice challenges arise."