Last month we reviewed the first 20 ideas I’ve gleaned from working with doctors for the past 40 years. Below are the remaining 20 strategies to help you build wealth, reduce taxes, and increase happiness.

1. Maximize cash flow available for savings by borrowing for all big-ticket, practice-related purchases (don’t pay cash). Then, repay the loans over the time period you expect to use the related assets (7-10 years for equipment and 15-25 years for an office building).

2. Once you’ve hit your retirement funding goals, reduce your clinical schedule to a 3-day work week. Rather than retiring, dozens of clients have enjoyed increased quality of life while working part-time, with minimal income reduction. How’s it working out for them? No client switching to a 3-day work week has ever gone back to working full-time.

3. Don’t retire FROM dentistry until you have something to retire TO! No amount of money will make you happy if you don’t have a purpose in life. So, figure out what your “second act” will look like before you pull the trigger!

4. Attract the best new doctor to your practice by aggressively recruiting students from the best programs, rather than waiting for “Dr. Right” to fall