Starting a family is a huge milestone, but how do you make it work financially as a dentist? Whether you're in dental school, working as an associate, or running your own practice, family planning comes with big decisions — both personal and financial.
SLP Wealth partner and financial planner Sim Terwilliger, CFP®, CSLP® joins us to break down the real considerations dentists face when growing their families. We'll cover everything from timing your family plans around your career to managing parental leave, childcare costs, and practice ownership. If you're wondering when the right time is to have kids or how to prepare financially, this episode has practical advice to help you navigate it all with confidence.
Key moments:
(03:34) The time commitment of having a baby: what to expect and how to prepare
(08:29) Why being a 1099 associate adds extra stress to family planning
(11:34) A guide to prepping for kids, from disability and life insurance to diapers and formula
(18:12) How to handle medical expenses and use FSAs/HSAs for big tax savings
(24:56) Keeping your practice running while setting boundaries for family life
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