Finance
Saving isn’t always easy. But it’s vitally important if you are self-employed and you want to look forward to a decent retirement.
First of all, we would like to emphasize that everyone has a value, and anything of value should be insured against loss. Every adult is an asset, whether he or she owns a practice, works for someone else, cares for family members, or cares for their home.
The real estate you acquire for your clinic’s occupancy should not be part and parcel of your chiropractic practice but separately owned and leased to the chiropractic practice.
This edition of Financial Adjustments is by Paul Philip.
Many chiropractors are moving to the suburbs, and rather than renting are buying their clinic-office real estate. They believe it makes financial sense and provides a more stable and accessible location for patients and staff.
A successful retirement income plan helps ensure that your assets will last throughout your lifetime. That, of course, is predicated on knowing how long you are going to live.
For all of us, chiropractors included, there comes a time to start thinking about retirement, or at least winding down. Some may choose to continue working for a few years longer and then, at some given time, simply close the door and gallop off into the sunset.
On July 13, 2009, Danielle received news that stopped her in her tracks.  A 38-year-old dental hygienist and new mom, she had just been diagnosed with oral cancer. She had self-discovered an abnormality in her mouth while brushing her teeth at home. Her next step was to have it examined at the dental office where she worked.
Often, debt repayment represents one of our largest ongoing expenses. The good news today is that interest rates have never been lower. (As of June 2009, the current prime interest rate is 2.25 per cent).
The global economy in 2008 was brutal and, so far, 2009 has not been much better. There is, however, an upside to the economic events we have seen and/or experienced.
In the eye of the business owner, wellness, for a company, can mean several things. Business owners – whether the business is large or small – have similar ideas in that they all want their businesses to succeed.
Estimating the value of the practice
The guidelines At some point, every chiropractor comes to the realization that age and the elements have taken their toll. This might be the time to move on, do something different, or just gallop off into the sunset. The decision always begs the question; does my practice have a value? Can I sell it as a viable chiropractic practice or must I just dispose of the  equipment and patient files as best I can and close the door for good?
Investors are starting to realize that they can help make companies more accountable to environment, social and governance issues. 
Dec. 16, 2011 – I routinely receive inquiries from chiropractors who are planning to open a new practice, or purchase a new practice together, with the intention of operating as a “partnership”. Most readers have heard the terms “partnership” and “cost-sharing”, but some may not appreciate that there are significant differences between the two – potentially costly differences that are preventable.
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