The Dental FI-gienist: Why Dental Hygienists Should Strive for Financial Independence (FI)
By Dana Paladino
The FIRE movement, which stands for Financial Independence, Retire Early, has been a growing trend over the last 22 years. Followers of this movement actively save and invest large portions of their income in order to reach financial independence and retire earlier than traditional norms. Dental hygienists are uniquely suited to achieve a life of financial independence, and the challenges we face in our careers make it an especially desirable goal.
What Is Financial Independence?
You may be asking yourself, what exactly is financial independence, or FI? While there are different definitions, FI typically refers to saving enough money to support your lifestyle without the need for a regular paycheck. Once people reach their FI number, they may choose to continue working full time, switch to part time, or retire completely. The beauty of financial independence is that it gives you the freedom to choose.
Why Financial Independence Matters in Dental Hygiene
As dental hygienists, we must consider both physical and mental burnout over the course of our careers. Some people enjoy clinical work for many years, while others are destined to seek alternative paths when pain or stress becomes too much. Achieving financial independence allows you to make that decision without feeling trapped by financial obligations.
Why Dental Hygienists Have an Advantage
Dental hygienists are at an advantage when it comes to attaining financial independence for several reasons. Competitive salaries, job stability, and flexible work schedules all play a role. Clinical dental hygiene can offer strong earning potential, which is often overlooked when focusing on the physical demands of the profession.
Life After Financial Independence
The possibilities for a financially independent dental hygienist are endless. While early retirement is one option, many choose to work part time, pursue passion projects, travel more frequently, or take mini retirements when burnout sets in or recovery from injury is needed. Financial independence also opens the door to exploring other career opportunities or simply enjoying the rewards of years of hard work. In a profession where injury or burnout can shorten a career, striving for financial independence early makes practical sense.
The Tradeoffs and the Reward
Reaching financial independence does not come without sacrifice. Living below your means, reducing debt, and consistently saving for retirement can feel challenging, especially during times of inflation and rising costs. However, setting clear financial goals and being intentional with your money can help you take control of your financial future. Ultimately, financial independence offers the freedom to care for yourself, both now and in the years to come.
