by VentureStreet  Join Our Network
The Baby Boom Experience

Most people don't look back on their lives wishing they had spent more time at the office. But neither do most people do what's necessary to secure the cash they'll need to pay for the retirement lifestyle of their dreams.

Now more than ever, it takes strategic planning to turn your retirement dreams into reality -- especially if you're one of the estimated 76 million members of the baby-boom generation born between 1946 and 1964.

Because of their sheer numbers, baby boomers have long had the economic impact of a demographic tsunami. It's no different this year as the first wave turns 64, an age said by many boomers to be a great time for starting life after work.

The timetable seems especially fitting for a generation defined in part by the soundtrack of a decade whose leading symbols include the iconic rock band that famously set to music the youthful Paul McCartney's vision of what his life might be like "When I'm 64."

The former Beatle probably had no idea how good it would get. His generational cohorts should be so lucky: hardly anyone seems safe from the global economic turmoil and record unemployment that has proven to be a shocking game-changer for successful business owners and highly paid professionals alike.

Before the worldwide downturn, an often-quoted estimate said that $40.6 trillion in wealth and property would change hands when boomers hang up their hats and pass the legacy down to the next generation. While the real number may now be anybody's guess, it's still likely to be the largest peacetime transfer of wealth in human history.

What is certain is that more people are now competing for a slice of a shrinking economic pie. That makes it all the more critical to write your strategic exit plan today -- especially if you're looking down the barrel of imminent retirement.

Dreams come in many shapes and sizes. Yours may include traveling to exotic locales, supporting a favorite charity, or simply having enough money in the bank to protect your nearest and dearest from financial misfortune.

If you're among those fortunate enough to be in possession of a small or midsized business, the sale of that business is likely to be the largest single source of retirement funding available to you. The sooner you get to work on your exit strategy, the greater your chance of maximizing the revenue you'll receive when the final sale is closed.

Don't forget that our lifespan is statistically the longest humans have ever lived. Those extra years won't come without cost. Phasecorp can help you plan ahead, increase the value of your personal and corporate assets, even document a professional opinion of their fair-market value as ammunition for a sales campaign.

However you picture your life after work, the right exit strategy can go a long way toward making it a reality.

Need help buying or selling a business? We can match you to a professional business broker in your local area.
Find a Local Business Broker
Other articles you may like:
5 Things to Consider when Starting a New (Small) Business
Get some tips and advice on the 5 things to consider when starting a new (small) business.

3 Major Revenue Generators Businesses Overlook
Social media populates the internet through the use of various platforms. The more...

Cashing Out-Important Things to Consider Before Selling Your Business
There are several common mistakes that Seller's often make in the sale of their small...

Entrepreneurship and Retirement; Contradictions?
Fact; each year, thousands if not millions of people retire some by mandate of some laws...

Why Consider Selling Your Company?
Today's economic environment is creating new motivations for business owners to consider...

Be the first to find this article helpful.
Need help buying or selling a business? We can match you to a professional business broker in your local area.
About the Author

Tomer Laks, Phasecorp
5066 Kimberly Ave
Chicago, IL 60630

Contact Author: request info

If you would like to re-print this article, please contact the author.
Other articles you may like:
Why Businesses for Sale Don't Sell
The five main reasons businesses do not sell.

Preparing Your Business for Sale
A quick overview for a business owner who may be considering selling their business.

How to Hire or Retain a Business Broker Including Business Broker Fees and Terms
Business brokers, business intermediaries, or investment bankers work to sell your...

Personal Goodwill vs. Corporate Goodwill
The sale of a privately held business can be structured in one of two ways; the buyer...

How Are You Advising People About Tax Reform?
Regardless of absolutes, CPAs must keep clients informed about potential changes related...

Editorial Disclaimer: The views expressed in articles published on this website are those of the authors alone. They do not represent the views or opinions of this website or its staff. The articles on this site do not constitute a recommendation or endorsement with respect to any views, company, or product. Authors affirm that article submissions are their original content or that they have permission to reproduce.

Home   |   Articles & Videos   |   Affiliates   |   Networking Groups   |   Search by Category   |   Professionals

Terms of Use   |   Privacy   |   About Us   |   Contact Us   |   Member Login

© 2003-2014 - VentureStreet, LLC

Join Our Business Network