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工作到死的退休计划

I want to sell my business, I need to sell my business. 请帮我卖掉我的生意.” Louisa (not her real name) reminded me of my mom. She was sweet, soft-spoken and loved to talk about her grandchildren. But unlike my mom, who never worked outside the home, Louisa was a business owner. Though 71 years old, Louisa was going to the office almost every day. 然而, her regular office hours were not driven by a love for her work, but rather her financial need to keep working.

Louisa’s situation is similar to that of many baby boomer business owners I have met in recent years. 他们想卖掉他们的生意, but the value they would receive is not sufficient to fund their retirement. So, they’re left with no choice but to continue to run the business that funds their financial needs.

Louisa had been in charge of the business since her husband passed away unexpectedly 15 years ago. 幸运的是, she had worked in the business for several years prior to his death, so she had some familiarity with the business. “I wasn’t looking to become a business owner, but life intervened, so here I am,她平静而肯定地对我说.

Louisa was able to pay herself about $100,000 per year and brought home around $75,000 after tax. 她的生活显然并不奢侈. She told me her biggest expense were trips to see her grandchildren in Oregon. But she told me she kept working past the normal retirement age because her investment portfolio wasn’t of sufficient size to fund her retirement. “Putting two kids through college zapped most of my savings.但她补充说,这是完全值得的, they are both fine adults in good marriages and they’ve given me three grandchildren.

After we shared pictures of our respective grandchildren, we got back to business. I told Louisa her business could be sold for $400,000 to $500,000. I also told her she’d probably have to take about 25% of that in the form of a 卖方 note. I quickly ran the numbers and figured the after-tax proceeds from the sale of her business would generate an annual income of about $20,000.

等待, I sell the business that is making me about $100,每年000, I invest the proceeds into a safe investment portfolio from which I can only make about $20,每年000. 我怎么能负担得起呢?

I didn’t have a good answer to Louisa’s question. 不幸的是, it’s a question I hear frequently when the baby boomer business owner is expecting their business to fund their retirement. Once they know what they can get from the sale of their business and they calculate the return they’ll generate from a reasonably-safe investment strategy, the business owner realizes the investment income will not be anywhere near what the business has been paying in salary. Short of a dramatic lifestyle change or running the risk of outliving their money, the business owner in this situation cannot afford to sell their business. This is the reason many baby boomer business owners haven’t yet sold their business, even though they are past the usual age of retirement.

I don’t have a pithy here’s-how-to-fix-this-problem end to the story. 对许多企业主来说,这是一种可悲的状态. Their best retirement strategy might just have to be, work ‘till you die.

JIM CUMBEE is President of 田纳西河谷集团, Inc. a retainer-based business brokerage and transition mediation firm in Franklin, TN. Cumbee is an attorney and has an MBA from Harvard Business School. 吉姆是这本书的作者 全垒打,职业销售指南. http://www.amazon.com/Home-Pros-Guide-Selling-Business/dp/1599329239 .  He has a wide range of corporate 和企业家ial experiences that make him one of the most sought-after business transition advisors in the state of Tennessee. 上面的故事是真的, but the names and fact patterns above have been changed to preserve the parties’ identities.

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田纳西河谷集团

吉姆Cumbee established 田纳西河谷集团 to help business owners fulfill their dreams for life after business ownership. It’s a mission that his 30+ year career history had prepared him well for—in addition to being an attorney, 转换中介和业务代理, 吉姆是一个买家, 卖方, 和企业家. His broad range of experience gives him unique insight into how business buyers and 卖方s can achieve their goals.

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