How Will the Agewave Affect You?

"During the next 15 years, the U.S. economy will experience an unprecedented increase in the number of businesses for sale as baby boomer entrepreneurs begin to retire" according to Richard Jackim, JD, MBA and Don DiLucchio, MBA. They fear that there will be a glut of available businesses for sale. As we remember from Economics 101, if supply outpaces demand - prices fall.

Don't panic: statistics tell us that nearly 70% of these businesses will liquidated or sold to a family member or an employee - leaving only 30% to be sold on the open market.

What can you do?

Make sure you've planned for your retirement beyond the sale of your business. Do you have a retirement plan in place? Are you contributing to it? Have you thought of other ways to take money out of the business to provide for a comfortable retirement?

Make sure your business is positioned to sell successfully. This may mean having an exit plan - a comprehensive and integrated plan. Have you focused in on profitability? Have you built a management team? Is revenue growing so you are an attractive business to the market?

I can assist with your companies' business succession planning, call me.

Joan Gilles is a Financial Coach helping business owners and professionals get really clear about what they want financially and then providing them with models and tools to get it. With over 23 years in the financial services industry and 12 years as an independent Financial Coach, she can help you realize your big-picture financial dream while allowing for the variability in business income and without losing momentum.

Powerful Strategies to Grow & Protect Wealth
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