Many Practice Owners Can’t Answer This Question
“What will I do with my time if I sell my practice?”
Many practice owners are hesitant to think about selling their practices. But everyone leaves dentistry someday, so why not plan for an inevitable event?
Because all practice owners need the answer to this key question, “What will I do with my time if I sell my practice?”
Here are 10 good ideas to get you started:
1. Practice Dentistry.
Working after the practice sale allows a practice owner to cash in before they are physically worn out, become burnt out, before collections decline and practice value diminishes.
2. Play Pasture Pool.
Golf is a great way to get more exercise, get more fresh air, hang out with buddies and provides opportunities to make new friends.
3. Hit the Beach.
Think about the best beach vacation that you ever experienced and imagine yourself being there. Recall the parts of beach living that you enjoy most.
4. Reinvent Yourself.
While some practitioners want to relax after a lengthy and physically demanding career, others are ready to move on to their next adventure.
5. Volunteer.
The best volunteer jobs provide a sense of helping others and also opportunities to get out of the house and meet new people. Some retirees help the next generation as tutor/mentors.
6. Spend Time with Those You Love.
You only have so much time on this earth and every day spent chairside in the office is a day that you will lose forever with your family.
7. Take Care of #1.
Diet, exercise, and maintaining good psychological and mental health are keys to a happy retirement experience. Make staying healthy your new top priority job.
8. Enjoy Hobbies.
Find purpose doing the things that bring joy to you and to others. Planning ahead can ensure that you will be able to actually experience what you dream about.
9. Travel.
Whether you buy a motor home, pull a camper or stay in hotels, traveling to amazing places can be both enjoyable and memorable.
10. Plan for Freedom Day.
Choose a specific date on your calendar (not a period of time) by which you anticipate selling your practice and enjoying your new found freedom. Spend time thinking about activities that you would like to do after selling your practice.
These are only 10 good ideas to answer the all-important question, “What will I do with my time if I sell my practice?”
The options are close to endless, as long as you start planning ahead now.
If you see the sale of your practice on the horizon, let’s talk.