{"id":118785,"date":"2023-10-30t11:57:42","date_gmt":"2023-10-30t15:57:42","guid":{"rendered":"\/\/www.g005e.com\/?p=118785"},"modified":"2024-08-27t17:00:50","modified_gmt":"2024-08-27t21:00:50","slug":"ready-to-retire-selling-your-practice-is-no-strategy","status":"publish","type":"post","link":"\/\/www.g005e.com\/2023\/10\/30\/ready-to-retire-selling-your-practice-is-no-strategy\/","title":{"rendered":"ready to retire? selling your practice is no strategy"},"content":{"rendered":"
<\/strong><\/p>\n what are the guarantees?<\/strong><\/p>\n by ed mendlowitz<\/i> question: i’ve heard you say that you shouldn\u2019t count on anything from your practice when you decide to retire. are you serious?<\/strong><\/p>\n response:<\/strong> i probably said that, but it was in the context of planning for guaranteed cash flow in retirement. a practice\u2019s value is never guaranteed until the checks clear.<\/p>\n more: <\/b>\u00a0uncooperative partner might not be the problem<\/a> | merge in lower-priced work without losing out<\/a> | 20 things you need for a business valuation<\/a> i did say that it is important to create an asset base for retirement and that these can come from a number of sources \u2013 and we each need to assign an importance to each source and a probability of their providing a comfortable retirement. which of the above are guaranteed?<\/p>\n social security will be guaranteed, but won\u2019t be enough for most of our retirements.<\/p>\n tax-sheltered savings as well as liquid assets in non-tax-deferred accounts are guaranteed and will provide a source of cash flow. illiquid assets shouldn\u2019t be counted on.<\/p>\n selling your practice is not a guaranteed way and will be subject to many factors including the ability of the buyer to make all the payments. also, your cash flow will only be the after-tax return on the investment of the net proceeds.<\/p>\n selling a residence is baloney \u2013 you will always need to live somewhere and nursing homes and senior residences are pretty expensive. an alternative is taking perpetual cruises \u2013 in inside rooms \u2013 figure it out \u2013 much cheaper, and possibly better treatment because you are their customer.<\/p>\n your children \u2013 ha ha. you might be lucky if you don\u2019t have to support them.<\/p>\n my \u201cguaranteed\u201d solution: maximize your annual contributions to tax-sheltered accounts and try to save something extra in your own names. invest wisely and don\u2019t be stupid!<\/p>\n","protected":false},"excerpt":{"rendered":" what are the guarantees?<\/strong>
\n202 questions and answers: managing an accounting practice<\/i><\/a><\/p>\n
\nexclusively for pro members. <\/span><\/strong>log in here<\/a> or 2022世界杯足球排名 today<\/a>.<\/span><\/p><\/blockquote>\n
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\nhere are what i see are the probable sources:<\/p>\n\n
\n<\/a>
\nby ed mendlowitz<\/i>
\n202 questions and answers: managing an accounting practice<\/i><\/a><\/p>\n","protected":false},"author":1341,"featured_media":41976,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"categories":[3120,3002,2298],"tags":[],"class_list":["post-118785","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pro-member-exclusive","category-special","category-succession"],"acf":[],"yoast_head":"\n