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For many, retirement or succession planning may seem like a far-off activity, but planning for your exit from industry early is the key to success, as Annie Kane finds out.
Thinking about retirement often conjurs up images of cruising around the Rheine, spending time gardening or playing golf. But all of these activities require a healthy nest egg to fund a leisurely lifestyle. Without the luxury or convenience of an employee superannuation fund, most brokers rely on selling their business in their autumn years. To ensure that brokers get the most value of their business, succession planning should be done as early as possible, according to Nick Young, director of trail book buyer Trail Homes.
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