The Key To Retirement Success: Your Personal Transition Plan

Transitions begin by ending the old. For baby boomer business owners and career professionals the “old” is your business or career. In order to get to the “new” you’ve got to go through a transition zone. Getting through that zone successfully requires a plan. Think for a few moments about your life on the Monday morning after you sell your business or leave work. Who is going to text you, email you, call you, or talk to you – and about what? You’re not at work – or are you? Have you developed a purposeful career plan for the next third of your life?

That purposeful career plan needs more than financial planning – and you do that with your financial advisor anyway, right? How will you plan for sustained physical health, intellectual stimulation, recreational and creative activity, and activities with your spouse or partner and family? Where will you decide to live, and how do you replace all those work-related social connections? Perhaps you are thinking about volunteering, working part time, or engaging more in faith based or spiritual endeavors. Whatever these may be, do you think you can do all of them without a purposeful personal transition plan?

Here are some addtional articles we think you might like:

How Can Business Owners Exercise a Succession Strategy?

As I have mentioned previously, owners can elect amongst at least ten (10) strategies, each of which requires thoughtful planning.

Succession Planning and Executive Search

Succession planning is discussed with business owners prior to starting an executive search to find a CEO to run their company.

Transitions and Executive Search

Conducting an executive search for a CEO for a closely held or family-owned company requires a transition strategy for the owner(s).

Talent Assessment Process in M&A. Is it Needed? This’ll Help You Decide!

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