(MONEY Magazine) – Ronald Cameron, 50, a periodontist in Upper Darby, Pa., started serious planning for retirement two decades ago after attending a one-day financial seminar for doctors and dentists. "The speaker said he knew some health-care professionals who had been reduced to eating dog and cat food in retirement," recalls the bachelor. "I'm not sure the anecdote was true, but it made a deep and lasting impression." Since then, Cameron has set aside an impressive 20% to 35% of his annual income -- enough to build an $825,000 retirement stash that makes it likely he'll wind up eating prime steak when he sells his practice (estimated worth: $75,000) in five years. He has split the money between a defined-benefit pension plan and a tax-deferred retirement account that he opened as an assistant professor of dentistry at Temple University School of Dentistry 24 years ago. Cameron also owns a portfolio of stocks and tax-exempt bonds large enough (he won't disclose the amount) to provide all the income he'll need between 55 and 59 l/2, when he can tap his tax-deferred accounts without penalty. After he sells out, Cameron plans to travel more, do clinical research or practice dentistry part time. "My broker keeps telling me I could retire now," he says. "But I'd like to have more of a cushion against future inflation."

Advice Because he's close to his retirement goal of $1 million, which will throw off about $70,000 a year, Cameron can afford to keep on investing conservatively, says Tom Magid of Merrill Lynch, Cameron's broker. Right now, * roughly 45% of his tax-deferred investments are in intermediate bonds, 37% in stocks, 12% in an annuity and 6% in balanced funds. Because Cameron's personal portfolio is loaded with bonds, Magid wants him to sell some and boost his equity holdings. Magid favors global stock funds, such as Merrill Lynch EuroFund A (up 13.2% annually in the three years to Jan. 1; 6.5% load; 800-637-3863) and almost-new Merrill Lynch International Equity A (up 10.7% for the three months to Jan 1; 6.5% load). He thinks both are poised for growth as foreign economies recover.