{"id":98013,"date":"2022-06-01t12:00:23","date_gmt":"2022-06-01t16:00:23","guid":{"rendered":"\/\/www.g005e.com\/?p=98013"},"modified":"2023-05-04t10:24:25","modified_gmt":"2023-05-04t14:24:25","slug":"selling-your-practice-is-not-a-retirement-strategy","status":"publish","type":"post","link":"\/\/www.g005e.com\/2022\/06\/01\/selling-your-practice-is-not-a-retirement-strategy\/","title":{"rendered":"selling your practice is not a retirement strategy"},"content":{"rendered":"
consider your other possible sources.<\/strong><\/p>\n by ed mendlowitz<\/i> q:<\/strong> i\u2019ve heard you say that you shouldn\u2019t count on anything from your practice when you decide to retire. are you serious?<\/p>\n more: <\/b><\/strong>thirteen things to know before selling your practice<\/a> | 10 reasons clients don\u2019t pay<\/a> a:<\/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. here are what i see as the probable sources:<\/p>\n which of the above are guaranteed?<\/p>\n social security will be guaranteed, but won\u2019t be enough for most of our retirements. tax-sheltered savings as well as liquid assets in non-tax-deferred accounts are guaranteed and will provide a source of cash flow unless you invest foolishly. 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.<\/p>\n 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 haha. you might be lucky if you don\u2019t have to support them.<\/p>\n my \u201cguaranteed\u201d solution: <\/strong>maximize your annual contributions to tax-sheltered accounts and try to save something extra in your own name. invest wisely and don\u2019t be stupid!<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":"
\n101 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
\n
\ni did say that it is important to create an asset base for retirement and that this can come from a number of sources \u2013 and we each need to assign an importance to each source and a probability of its providing a comfortable retirement.<\/p>\n\n