Planning… everyone keeps talking to you about planning for your future and you’ve barely enough time to take care of present issues. Who has time to plan for the future? Retirement? That’s light years from now. Besides that, who is going to retire? You plan to work as long as your health holds out, so you don’t need to plan for retirement.

Why worry? You are as healthy as a horse. Disability? Well, you’ve got that pretty well covered with disability insurance. Sure, you’d have to make some adjustments in your lifestyle if you became disabled, but who wouldn’t? (Maybe you’d better find those old disability policies and read them over again.)

Hey, you’re still young, you have lots of mileage left on you. It’s true; you don’t have much money saved for retirement. It’s tough enough to make ends meet supporting your current lifestyle, so how can you set aside money to retire?

Let’s see; you’ve got some money in your retirement plan. At least that’s something, even if you don’t think you could live on it for very long. You’ll just have to plan on working until you are 75 or older. I guess you’ll just have to hope you don’t get sick or disabled. You’d sure hate to run out of money; that would be a heck of a note after working for so many years. What would the kids think?

Sound familiar? Unless you are an exception to the rule, this is a very real scenario for many professionals. Most doctors rationalize not planning for the future. It’s always next year or ten years away. But, all of a sudden, it’s here, and the average doctor is woefully unprepared to enjoy those “Golden Years.” Yes, if you fail to plan… then you plan to fail. And fail you will, unless you get lucky and die first. That’s a strange commentary, but it holds true for most dentists. There are a lot of seventy and eighty-year-old dentists who never thought they would live so long and now they are running out of money. These doctors retired hoping that they would die before their money ran out!

There are also a lot of doctors who were unable to practice as long as they thought they could. They got sick and had to quit practicing years before they had planned. Many of them let their practice decline over the years, and so they lost the value of their practice that could have helped them financially upon retirement.

Okay, so if you don’t have extra money to set aside for retirement, then what can you do? Think about the value you have in your practice. AFTCO has developed programs that allow you to get your equity out of your practice now and continuing practicing in your practice until the time you choose to retire.

The real benefit to you, of course, is how the “miracle of compound interest” affects the money you get paid for your practice. Let’s say you put that money into a pension plan (you would be the only beneficiary of that plan since you no longer have any employees) and your money from the sale your practice grows at a rate of say 6% per year. While those tax-deferred dollars grow each year, you can continue to practice and earn what you need to live on, but now you’ve funded your pension plan with the value of your practice. Don’t let your practice equity sit idle, begin a plan for your future and call AFTCO at 480-634-4803 or visit our website at www.AFTCO.net!