57. Why Your Dentist Exit Plan is Doomed to Fail
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57. Why Your Dentist Exit Plan is Doomed to Fail
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Takeaways:
- The procrastination penalty emphasizes the critical need for early planning in exit strategies.
- Valuation illusions can lead to unrealistic expectations about the worth of dental practices.
- Understanding tax implications is pivotal to maximizing the proceeds from a practice sale.
- The successor mirage highlights the dangers of informal transitions without binding agreements.
- The high income, low wealth paradox illustrates that high earnings do not guarantee financial security in retirement.
- Emotional anchors can inhibit dentists from effectively transitioning out of their practices.
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