Are you a practice owner looking to extract maximum value from your clinical practice? In this episode, we’ll discuss the crucial steps to ensuring your business assets translate into personal wealth. Building on our previous episode about understanding your balance sheet, I’ll explain the risks of having your net worth tied up in your practice. You’ll learn strategies to shift value from your business to your personal finances, reducing dependency on a single asset and securing your financial future.
We’ll cover the importance of diversifying your portfolio and what to do when you no longer wish to grow your practice. Discover practical methods to migrate money from your business to your personal balance sheet, the benefits of having a solid retirement plan, and why increasing your salary can be a smart move. By the end of this episode, you’ll understand how to better prepare for retirement and make intentional financial decisions that enhance your overall wealth.
What You’ll Learn In Today’s Episode:
- A common risk many business owners face.
- The value in diversifying your portfolio.
- What to do when you no longer want to grow your practice.
- The importance of having a retirement plan.
- Why you should pay yourself more.
Ideas Worth Sharing:
Resources In Today’s Episode:
- Episode 243: Move Cash Out Of Your Medical Practice To Create Options Down The Road
- Money Meets Medicine Podcast
- APM Success YouTube
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