what are the guarantees?
by ed mendlowitz
202 questions and answers: managing an accounting practice
question: i’ve heard you say that you shouldn’t count on anything from your practice when you decide to retire. are you serious?
response: i probably said that, but it was in the context of planning for guaranteed cash flow in retirement. a practice’s value is never guaranteed until the checks clear.
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i did say that it is important to create an asset base for retirement and that these can come from a number of sources – and we each need to assign an importance to each source and a probability of their providing a comfortable retirement.