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What are your retirement plans?
what’s everyone’s end game?
Are you hoping to sell up or are you just going to close shop. Bring in a 3 day week?
What will you do when you retire? Nothing or have you got plans? Different businesses/change in direction completely?
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12 Replies
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Rent my building out & do online sales from home
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Die at my desk & get used to wedge the door open on windy days
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Mortgage until I am 70, then fuck knows.
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Probably work til I drop 🙁
Should’ve taken note of all those "start preparing now" when I was in my 20’s, but with kids to feed etc. I wasn’t putting away 25% of my income!
I have recently set up a couple of pensions, the company can pay x amount into a pensin for me and it’s off-settable against corp tax… now we’re vat reg’d, I put it to my acc’t that technically we should have a surplus in the vat account each month, all being well, and asked if I could put that into a pension… and yes I can!! So,as long as the company continues to do well, I may actually end p with a half sensible pension after all!!
I guess I would hope to sell the business to someone or a competitor, but realistically I think (now) that unless the business can run without you, ie. staff, it doesn’t generally have much in the way of value, despite our books being relatively healthy.
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Not given it a thought… we need to sort out my old man’s retirement plan first :rollseyes:
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Id always thought id retire at 58 (the pension age was 60 when i was starting out its now 66) Its still my dream but think its now unlikely. Youngest has a few more years of school and middle one just off to Uni so thats at least three years ill have to work to keep them. I would love to sell my business as its a good one but i imagine my competitors will just let me close and hoover up the work that comes their way. Im almost tempted to get another apprentice and pass on my knowledge before i stop. Just feel at 54 and with a bad back that im getting to old to be cleaning lorries and clambering up ladders.
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My master plan…
Win Euro Lottery’s £144 Million :thumbsup:
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When I retire I’m not sure what to do with the business? Maybe bring in a manager to continue running it or perhaps try and sell it as a going concern? But I’m in a similar situation as Hugh in that the only staff are me and Alison and she’s planning to retire at the same time!!
I did at one time wonder if one of my kids would take over the business, but now they are well established in their own careers and I can’t see them ever being interested in taking it on, but you never know?
If all else fails I might shut shop and rent out or sell the unit (It’s owned by my pension fund) and perhaps continue working on a part time basis from home (assuming of course I remain in good health).
I’m worried I might get bored though so maybe I should just keep on going until I drop :awkward:
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Retirement???
I have never worked a day in my life, I love my job and everything about it!!
Obviously, other than bad payers and stupid customers can be annoying, but what industry/job doesn’t have that?I do not plan to retire ever, yes the day will come that I will be doing next to nothing due to age, but I am sure I will still be able to tap away at my i-pad "on UKSB" whilst sucking on a Wether’s Original, drooling over the screen and smelling of pee! Phill, I could pop over to see you and go to the local bowling club, have a wee sweet sherry and play dominos.
Seriously though, I have not even considered retiring. However, I have been for the past 6 years slowly building up a nice list of big customers that I do consultancy for, and I plan to grow that steadily. So if and when the day comes that I want to take it easier, what better way than via consultancy based around all that I have loved and learned over the years in business.
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Completely agree Rob. Except smelling of wee.
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I dont plan on living that long.
"Living a good life, not a long life"
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Time for us to sell, work for the new owner a bit then go back to hand lettering again to keep me outta trouble.
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