NL Transitions

How Much Money Will Dentists Need to Retire Well?

It’s the age-old question with many different answers: how much money do I need for retirement? Dentists face no more investment and savings risks than other people; however, as dentists also tend to earn more money throughout their career, and high-income earners tend to spend more and thus, have a higher cost of living. This means more money is needed for a comfortable retirement.

To read the full blog, visit: https://nlgroup.com/nl-transitions-blog/how-much-money-will-dentists-need-to-retire-well/?fbclid=IwAR1M6-wFAo2ra5xcUTVtolNqn_El0QtwdSVGlMPxMYsE7-M5lsW9qAPbfIU

Dental Practice Exit Strategies: How to Choose the Right Goal

For many dentists, your practice means more than just a paycheck or a job. Your practice represents years of hard work, commitment, and sacrifices. There are decades of memories. That’s why selling your practice is such an emotional decision. When the sale price represents such a big piece of your life, you want to get the most out of it.

To read the full blog, visit https://nlgroup.com/nl-transitions-blog/dental-practice-exit-strategies-choose-right-goal/?fbclid=IwAR22ZN0CLHezc9bqav9Fiur0y4p-R3kljMzzb87vg5bq-_xCF_5O7W4HeVo

How to Embrace Retirement as a Dentist

Delaying retirement due to an underlying concern can end up being problematic in the long-term. You risk missing out on time with your family, opportunities to travel or fulfill other goals, and enjoy a more relaxed lifestyle without the hectic pace of dental practice ownership.

Read our full blog post for more details s: https://nlgroup.com/nl-transitions-blog/how-to-embrace-retirement-as-a-dentist/

What Happens to Receivables After a Practice Transition?

When a practice is being purchased, what happens to the accounts receivables?

Typically, the seller retains the receivables. Who will collect them? What will happen is that the staff of the practice will continue to collect them, just as they did when the seller was the owner of the practice.

To read the full blog, visit: https://nlgroup.com/nl-transitions-blog/what-happens-to-receivables-after-a-practice-transition/?fbclid=IwAR3xPh5FZcoOAIKOf1BD0pWCpzGQmf65uAgY1WM4NqRKcN_lVIjf716k0OU

Why You May Need to Sign a Non-Compete When You Sell Your Dental Practice

You already know that selling your dental practice will come with a lot of contracts to sign. Did you know that a non-compete might be among them? Unless your plans involve moving to a different state for retirement, expect the buyer to ask you to sign a restrictive covenant that protects his or her new practice from any potential risk if you end up returning to dentistry, even part-time.

Here’s what you need to know if a non-compete is part of your dental sales agreement -