Retirement for a Dental Lab Technician

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Someone mentioned Costa Rica or Mexico. Costa Rica 100%!
The best way to find out which place would fit better is to go for an extended visit, like 3-5 months or so, then weigh your pros and cons. Get to know the local culture and lifestyle, then go form there... Mexico is not for everyone, it's a polarizing environment, you'd either love it or hate it... cannot comment about CR, haven't spent enough time there outside tourist traps... but I'd say YMMV
 
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Diastema

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Retirement is a made up word for people that don't like what they do...
I hear Costa Rica, Mexico.... I'd include Thailand, Croatia, Portugal and Spain.
Anyway, I have a long way before I can start thinking about it...
 
bigj1972

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Retirement is a made up word to keep you working so you'll have hope that one day you can stop. Then you'll be too old when you find out you been cheated to do anything about it.
 
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Retirement is a made up word to keep you working so you'll have hope that one day you can stop. Then you'll be too old when you find out you been cheated to do anything about it.
I've realized quite early we're nothing more than wage slaves... then tried to wiggle myself out of the system as much as possible. Stupido2
 
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Diastema

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I'll be honest since I've started my own adventure as a one man small boutique lab, retirement as early as 55 is totally possible. I did the math today.
Well as long as things continue to be as they are of course.
When I was an employee there's really not much you can do...Work till you're eventually horizontal... No thanks...
I wish all of you a very happy new year, may it be healthy, prosperous and serene!
 
bigj1972

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Hopefully if you own a lab, and that your EBDA (earnings before depreciation and amortization, excluding any non-cash expenses related to stock compensation activities) is really good and you can get a multiple of 8 to 10 times. This should set you up nicely and you move to your deserted island and enjoy the rest of your life.

If your a tech with no lab lets hope you saved up a nice nest egg
If you can find another sucker with hopes and dreams to buy it, sure.
 
2000markpeters

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Finding someone to buy your lab is extremely easy. There are so many venture capital organizations buying up labs all the time. Big labs buying other labs happens all the time.
 
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Finding someone to buy your lab is extremely easy. There are so many venture capital organizations buying up labs all the time. Big labs buying other labs happens all the time.
True if you are a medium+ sized lab, b/c they are basically buying your accounts... equipment is only bought pennies on the dollar. Venture capital is only looking at the numbers, will want you there to run the show in case they want to keep it running and not shutting it down...not the ideal situation when you want to retire, might even break down the buyout price to installments to make sure you stay. You are also short on bargaining chips if you want to get out fast or have other problems, they will take advantage of that. Big labs are buying to curb competition and gain more workforce. Small ops and one person shows are nearly impossible to sell.
 
rkm rdt

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Not everyone
Poor You GIF by Judge Judy
 
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doug

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I'm currently sitting at the infusion center getting my weekly chemo for multiple myeloma. On three other days of the week i get to spend getting dialysis as my kidneys were damaged by the myeloma. I'm still working, I'm still enjoying the work, and I think the breaks during the week have taken some load off of me so I can relax a tiny bit. Plans are in place to transition the lab, so that's in the works. Since this cancer is very treatable I'll continue to work as I see fit, and slowly cycle out in the next couple of years. BTW, I'm looking at getting into a clinical trial for something called CAR-T therapy. "It's the future!" according to my oncologist. So, yeah, at about 95yo I'm still working and having a good time. 😛
 
Doris A

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I'm currently sitting at the infusion center getting my weekly chemo for multiple myeloma. On three other days of the week i get to spend getting dialysis as my kidneys were damaged by the myeloma. I'm still working, I'm still enjoying the work, and I think the breaks during the week have taken some load off of me so I can relax a tiny bit. Plans are in place to transition the lab, so that's in the works. Since this cancer is very treatable I'll continue to work as I see fit, and slowly cycle out in the next couple of years. BTW, I'm looking at getting into a clinical trial for something called CAR-T therapy. "It's the future!" according to my oncologist. So, yeah, at about 95yo I'm still working and having a good time. 😛
I'm sorry to hear that you've got cancer. But like you said, the advances they've made treating multiple myeloma are amazing!! Are they going to use your T cells or donor for the Car-T? I've been reading about it and if they use donor they can start you on it in less than a week. If they use your own it can take 4-6 weeks for you to start. I saw where about 90% of patients respond to it, and that is fantastic.
You're in my prayers my friend.
 

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