I wish I had a dollar for each time I’ve been told – “I really should have come to see you earlier”!

The challenge.

When you are busy with life and running your business, the actual thought process of planning for your retirement is probably not front of mind.

The ability to transition into retirement can create uncertainty, anxiety and be quite challenging.  Having a retirement plan, setting money aside and understanding your options will ensure that you have a solid financial base and clarity for when you make the decision to retire. Unfortunately for many business owners planning for retirement may just amount to a passing thought of selling the business and relaxing.

Although you run a successful business, without an understanding of successful exit strategies you may end up working beyond the age you would ideally like to retire or fail to maximise the return for many years of hard work and commitment. The good news is that it doesn’t have to be that way.

Get planning.

Having planning discussions, obtaining guidance and advice can make all the difference in the lead up to and upon retirement. The important point is to start the process early.

Appreciating every business is different with varying levels of complexity, I’ve outlined some steps which on the face of it may sound simple, however are often not considered, or just left too late.

Consider the following:

1. Decide when you want to retire.

2. Consider what is important to you and your family, what does retirement look like and why you feel that way, and what are your lifestyle needs and goals.

3. Consider what you intend to do with your business, will it be sold or is there a succession plan in place.

4. Seek advice from a financial adviser.

Make a decision and understand your current reality.

Making a conscious decision around when you want to retire, can bring a range of other questions relating to retirement and beyond into sharper focus.

Engaging an adviser can assist in guiding you through the valuable process of understanding your current reality, including a realistic picture of any shortfalls that may exist in achieving your retirement lifestyle needs.

Explore options and strategies – then test them. Understanding strategies and options available to meet and improve your retirement outcomes, and stress testing these scenarios, can provide a level of clarity and confidence in your financial decision making. The key is getting a sense of this, early.

We know things change, it’s a journey.

Retiring from a business is a multi-year process – things change. Your business may look very different in six or twelve months. Life events happen and your plans and thoughts around what retirement looks like for you and your family may change. We understand this, it’s a journey that we always excited to be part of.


Andrew Bolingbroke enjoys building long-term relationships with clients and working alongside them as their life plans develop and change over time. This gives his clients confidence that, through Boutique Advisers, they have clarity and structure around their finances.  Andrew enjoys working collaboratively with clients’ other trusted advisers to ensure that they have a truly holistic financial journey.