Q: I’ve heard you say that you shouldn’t count on anything from your practice when you decide to retire. Are you serious?

A: 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.

I did say that it is important to create an asset base for retirement and that this can come from a number of sources – and we each need to assign an importance to each source and a probability of its providing a comfortable retirement.

Here are what I see as the probable sources:

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