The Retirement Formula with Reese Harper

Text 'bulletproof' to 345345 to stay in the know about our upcoming book release and the Bulletproof Summit on October 12-13th 2018 in Atlanta!   Bulletproof Dental Practice Podcast Episode 82 Hosts: Dr. Peter Boulden & Dr. Craig Spodak Guest: Reese Harper, CEO DentistAdvisors.com   Watch full video of the interview by clicking here!   Key Takeaways: Average retirement age for dentists is 69 Most dentists retire when they think they can, they don't wait longer When to retire Calculate total net worth, retirement accounts, cash, investment to determine Make 30-35 times what is spent in 1 year at any age younger than 70 Example: $200,000 spent in a year, net worth should be $6-7 million TT Score: Net worth divided by annual spending Wealth should grow at 3.3% or more at a TT score of 30 to never run out of money and maintain principle A lot of people don't have a clear picture of how their net worth is growing, so they don't make any changes Track personal net worth statement and progress report quarterly Spending 30% of your total gross rate is ideal This will allow a 20+% savings rate Average savings % is 21 Focus on net worth not savings People often pursue accumulating assets in the wrong order Focus on practice equity, then liquidity, then qualified assets, then real estate More practice equity leads to higher investment returns   References: Explore the Elements   Tweetables: If you're not getting a roadmap, how do you know where the roads are? – Dr. Peter Boulden

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