Will you be able to afford to retire?
There are three types of accountants. Those who have started thinking about retirement and those who can’t count, explains Mark Lee.
That thought started life, in a slightly different formulation, as a joke I heard many years ago. It floated back into my consciousness as I started to pen this piece for AccountingWEB.
The so-called baby-boomers, born in the immediate aftermath of World War Two are now reaching (normal) retirement age. For many of them the question of whether they can afford to retire is at the forefront of their thoughts.
Younger members of the profession tend to make some provision for retirement; others work on the assumption that their accounting practice (or their share of the firm) will produce the bulk of their retirement income.