Are you measuring your wealth the right way? You could be looking at the wrong number. Watch this short video to learn whether you’re making real progress toward your financial goals.
Just because your income is secure doesn’t mean your retirement is. If you want to make sure you can retire on time and comfortably, take a look at your net worth.
You should accumulate a net worth that is equal to 30x your annual personal spending before you retire.
To calculate your net worth, add up the value of your practice, real estate assets, and other investments, then subtract your personal and practice debts. Is yours high enough? Or do you need to accumulate more wealth before you retire securely?
Instead of focusing on making more money, focus on increasing your net worth. If you don’t know what it is, or how to track it, you’re going to have a hard time making it to retirement successfully. As you pay off debts, accumulate cash, and earn healthy returns on your investments, keep an eye on how fast your net worth is changing.
For free, personalized advice on how to turn your net worth into a more impressive number, call Dentist Advisors.