Well at long last the Commonwealth Games have finished and we can all get back to some sort of normality and get on with the new financial year, or over it.
A recent article I read claims that 30% of over 65’s who are still working, are doing so to pay their bills. Now this article does ring a familiar tune with one of our (retired) founding members Don Wood, as he knows of Practitioners that are still working to pay bills.
In our line of work, when we meet practitioners to discuss selling, a good number admit to me that they cannot afford to retire!
Now some of this is of course, trying to maintain their present standard of living but a lot I am sure are afraid to press the STOP button. When we were allowed to dig deeper, many Practitioners told me that they “don’t know how I will fill in my day”. This uncertainty in a post-sale life could be an example of the ‘fear of the unknown’.
This fear of the unknown can also often consist of how one would substitute their income, their lifestyle or their status of importance etc.
If you are one of the very few who have no outside interests, where perhaps work is ALL you do, you are in the very small minority. We have been a part of the process of many Partners, who have gone on to enjoy some of the greener pastures that the post-sale does entail.
Don now plays a lot of golf and has found that the volunteering work he partakes in to be very satisfying and worthwhile. He often tells us, that his only regret, was not retiring earlier and enjoying the time he has with the special people in his life. On top of all of this, Don is still a consultant to our firm and is on our board as an advisory member.
But the point of all this is to tell you, that while many of the practitioners we’ve worked with were uncertain or apprehensive regarding what their life would be post-sale. Many do find that they are now able to get around to those job and hobbies that they had often put off to a ‘later date’. Despite several of our vendors at some point in time, showing an initial reluctance to sell, solely due to what life would be like after, it is always rewarding to find them enjoying being able to focus their time on the things that really make them happy, away from work.
So, if you are having similar thought or queries then NOW is the time to contact the experts, if you’re looking to BUY/SELL/MERGE or source a successor!
Give us a call in absolute confidence!
Phone: 09 600 2092
Mobile: 022 043 2880