Information abounds on ways for a dentist to prepare for retirement. Topics most often include complex tax strategies, pensions, investments, savings, the sale or lease of commercial property, and how to structure Associate agreements, just to name a few. While all are important to a successful retirement plan, let’s take a look at five other easy and affordable “hidden gem” retirement strategies for dentists who one day – maybe soon – plan to sell their practice and retire.
“I seem to be working longer and longer hours, but my receivables just don’t show it, and my overhead feels out of control. What am I doing wrong?”
If this sounds familiar to you, and is descriptive of your dental practice, you’re not alone. Many dentists, while excellent Clinicians, would rather bury their head in the sand and cross their fingers – now, there’s a visual! – when it comes to managing their finances. Their mantra: “I just want to do dentistry!”