Do you plan to retire in the next three years? |
881 total votes |
|
| 14% |
| a. Yes |
|
| 86% |
| b. No |
|
|
What age do you expect to retire? |
608 total votes |
|
| 4% |
| a. Before age 50 |
|
| 30% |
| b. Between ages 50-60 |
|
| 57% |
| c. Between ages 60-70 |
|
| 10% |
| d. I don't expect to retire |
|
|
How much do you expect to have in spendable assets at retirement? |
606 total votes |
|
| 23% |
| a. Under two million dollars |
|
| 26% |
| b. Two to three million dollars |
|
| 15% |
| c. Three to four million dollars |
|
| 8% |
| d. Four to five million dollars |
|
| 13% |
| e. Over five million dollars |
|
| 17% |
| f. I don't know |
|
|
Where will the bulk of your retirement income come from? |
602 total votes |
|
| 70% |
| a. Retirement savings accounts |
|
| 7% |
| b. Proceeds from sale of a practice |
|
| 19% |
| c. Income from assets (e.g. rents) |
|
| 2% |
| d. Inheritance |
|
| 2% |
| e. Social Security |
|
|
How confident are you that you are on pace to retire when you want and have the lifestyle you want? |
602 total votes |
|
| 19% |
| a. Extremely confident |
|
| 31% |
| b. Very confident |
|
| 36% |
| c. Somewhat confident |
|
| 14% |
| d. Not confident |
|
|
Who helps you make investment decisions? |
599 total votes |
|
| 35% |
| a. Certified Financial Planner |
|
| 15% |
| b. Investment broker |
|
| 2% |
| c. Insurance agent |
|
| 6% |
| d. Friends and family |
|
| 34% |
| e. No one, I handle my own investments |
|
| 8% |
| f. I don't currently invest my money |
|
|
How long before retirement should an owner/doctor plan a transition? |
590 total votes |
|
| 5% |
| a. A few months |
|
| 50% |
| b. 5 years prior |
|
| 15% |
| c. 10 years prior |
|
| 30% |
| d. As early as possible |
|
|
What factor best determines the fair market value of a practice? |
579 total votes |
|
| 17% |
| a. Valuations of other local practices |
|
| 52% |
| b. Last year's total practice collections |
|
| 16% |
| c. Future practice expectations |
|
| 15% |
| d. Value of depreciated tangible assets plus number of patient charts |
|
|
Who would you hire first to help you sell your practice? |
590 total votes |
|
| 15% |
| a. No one; I will do it myself |
|
| 5% |
| b. Dental attorney |
|
| 6% |
| c. Dental CPA |
|
| 8% |
| d. Dental appraiser |
|
| 37% |
| e. Practice broker |
|
| 28% |
| f. Transition specialist |
|
|
How do you plan to sell your practice? |
579 total votes |
|
| 20% |
| a. Brokered Sale |
|
| 25% |
| b. Transition 100 percent and walk away |
|
| 36% |
| c. Transition 100 percent and stay on doing select procedures |
|
| 19% |
| d. Multiple transitions |
|
|