How Can Ownership Help My Retirement Plan?

Karl Salzsieder, DVM, JD, CVA, owner of Salzsieder & Associates, TPSG, LLC / DBA Total Practice Solutions—­Northwest, advises practice owners on how to earn money after semi- or fully retiring.

Interview Transcript (slightly modified for readability)

“Ownership can be a solid part of a retirement plan. If we’re talking about continued ownership, you can get a slowed down work schedule and get money from your practice, as I’ve discussed other times, as an owner, as a return on investment, that can be going indefinitely if you can get that cooperation of your employees or co-partners or shareholders. Those are the real issues about how you can semi-retire and get income.

If you’re going to go full retirement, then the practice sale is the way you can get money to put into an investment account to help give you longevity of retirement. So, ownership is a big deal to help build your retirement income, again, which will make it bigger than just a 401K or an IRA that you’d get as an employee. So, to start younger is better as an owner.”