Townie® Poll

Retirement and Practice Transitions

Poll conducted from 2/1/2008 To 3/3/2008

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

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