How do business owners retire?
An introduction to clever retirement for business owners
Although the thought of retirement might be something that you don’t want to be considering right now, it is an inevitable stage of life that you need to be prepared for – especially if you are a business owner.
Unfortunately, it is not often as simple as “I’m retiring now, see you later everyone!”
In order to protect what you’ve been investing a great deal of time and capital in, you need an escape plan of sorts to help you get there without crippling your business.
A great solution that most business owners should opt for, if they still want to maintain their business, is more of a gradual retirement – We like to call this process Half-Retirement™.
What is Half-Retirement™?
Half-Retirement™ is the process in which you begin to prepare your business for when you are no longer around or want a little bit more spare time to yourself.
It largely involves making systematic changes to your business and covering all of your bases so that it can continue to run effectively without your presence.
When you have successfully achieved this, you can then start making preparations for full retirement if you so choose to and moreover, enjoy the fruits of your labors too.
What does Half-Retirement™ involve?
Half-Retirement™ involves separating yourself from your business at a gradual rate that will not have a negative impact on operations or finances.
This can be an extremely emotional time, where you get frustrated at losing a little control. This is a natural reaction. Your business is extremely personal to you.
During this time, it will help to remind yourself of what you are aiming to achieve: Freedom!
No one sets up a business with the objective of working their entire life. The point is to make enough money to have and maintain the lifestyle that you choose.
This comes at a price. The most valuable currency there is: Time.
You have committed your time and you must now empower yourself to venture towards the next stage of life and see it as a positive thing. The more you can do this, the easier it will be for you and the people around you.
What are the financial implications of Half-Retirement™?
The cost of your Half-Retirement™ can be minimized using a range of methods that you can learn about by doing some research and exploring our courses.
We recommend this because the financial implications of your retirement entirely depend on what path you choose to take. The same strategy doesn’t work for everyone; however, with us you can explore the range of models in more depth to gain a true understanding of what to do next.
Learn about the following:
- The Half-Retired™ mindset
- 6 steps to Half-Retirement™
- If choosing a successor will help you to retire
- Leaning on systems, not people
- How to identify your Picasso work
And so much more. Each topic that you learn about will help you to gain a greater understanding of how to approach Half-Retirement™ and get it right.
Choose a happy retirement.