For most, knowing when to retire and on how much is never easy
We’ve put together a few simple points for business owners’ to consider for retirement:
- What lifestyle will you aspire to – will it be as it is now, or have you got your bucket list to go through?
- How can you make sure your business will trade for years to come?
- How can you build value and benefits for yourself as well as the business, and what are the tax consequences of this?
- Will you have a defined exit route in the future? Can you ‘invest’ in your employees to establish succession or will a sale be inevitable?
- What is your business worth? How do you value it? How do you know what it will be worth in the future?
- If you can’t sell (or you don’t contemplate selling), then how can you rely on your business after you’ve retired?
It pays to have a back-up plan
That means you are in control of when you retire and how much income you want to receive. Something that runs alongside your business. Most importantly you will want this plan to be shaped and funded by your business.
We have helped many corporate clients achieve sustainable retirement plans, that leave them in control, and help them properly plan for their own retirement.
By speaking to our highly qualified advisers, we can determine the most suitable strategy, so you can realise your ambitions.