Andrew Moore, Director of Goodmans Financial Planning, explores the concept of selling your business twice. This article was originally published in the Summer Edition of Devon Life Business & Professional .
Following on from my previous article in Devon Life Business and Professional on the importance of having a clear game plan for your own life, I am going to touch on the specific issue of using a business to fund your retirement years.
For many business owners, a large part of their retirement plan is to eventually sell the business they’ve built, step back and enjoy a well-deserved and well-funded retirement. When it works, this strategy is brilliant, and we see many clients at this stage with a handsome amount of capital to make use of, and investment decisions to make.Read More
Andrew Moore, Senior Financial Planner in our Plymouth Office, explains why a great game plan for your own life can make running a business much more enjoyable. This article was originally published in the Spring Edition of Devon Life Business & Professional .
Life is full of ‘projects’ to work on. We have a sense that they are worthwhile if they take us forward, give us more money, build up our assets or grow the business we work in or own. Often these activities are all-consuming and there is an element of spinning on a wheel. How often do we stop and get a sense of why we are working so hard.
As a financial planning firm we see clients in the run-up to retirement and then guide them through a fun and exciting ten to twenty years before helping them settle into a secure later life. When you have enough capital, and importantly you know you have enough capital, the years between 55 and 75 can be the best years of many people’s lives. If you have looked after yourself, you have your health, you have money, and the kids can be hidden from on some beach where mobile phone reception is poor. Smart clients also recognise that the biggest shortage they have is time. This gives an added poignancy to the pleasures and lifestyle enjoyed in these years.Read More