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Hive down or retire ?

Hive down or retire ?

Five years ago I gave up my office and disposed of a large % of fees. I retained a number of clients and have operated a lifestyle practice retaining one part time assistant. Over the last year I have had to let three large (for me) clients go as their needs required more time than I wanted to give.

I am now reviewing the situation and would like members opinions on what they consider the minimum level of fees is to make it worth the hassle of running a  practice.

Fixed overheads software, P.I. and prof fees along with cpd seem to come to around £2k.

Does anybody operate on fees of £11-£15K ?and if so is it worth it. ?

Other questions maximum age to continue in practice and how to get rid.

Thanks a lot.


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07th Mar 2012 14:18

It depends what you value in life. . .

I "retired" five years ago but retained a small practice like you, with only around £4k gross fees pa. Costs - PI, membership and software I manage to keep down to around £1k. To add insult to injury, I have pension income which puts me in the 40% bracket before I start.


So what do I make? Very little indeed! But it keeps the mind active, I can do some good work for some interesting clients - some are charities where it is particularly rewarding - and I ENJOY IT!!


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