May/June 2020 | Page 24

Retirement Guide A Planning Guide for Successful Retirement By Catherine Etters, Legacy Practice Transitions As consultants for Legacy Practice Transitions, we hear one question asked more frequently than any other: “How far in advance should I start planning for retirement?” There is no single answer that applies to every situation. The transition process consists of several phases, each step just as critical as the next to culminate in a successful transition. SOME OF THE PHASES ARE: Establishing the individual dentist’s practice specific needs and options Creating and prioritizing a list of what needs to be done in preparation for a sale The actual transition process What happens when you put your hand piece down for the last time? Preparing for how you plan to spend your years post-practice 22 MAY/JUNE 2020 | PENNSYLVANIA DENTAL JOURNAL