If you are thinking, after the last 12 months, that now is the perfect time for you to take a step back from your business by either selling up and retiring or cutting back on your working hours then here are some things you might want to consider.
If selling up and retiring is your goal, then it's never too early to start planning. It is likely that once you put your Practice up for sale it is going to take a few months to complete the deal. So, use the time to make sure that your future is going to look exactly as you imagined.
Doing nothing might sound idyllic but drifting through your days without purpose or goal can quickly lead to mental health problems, particularly if work is an important part of your identity. According to the charity, Centre for Ageing, those who felt they were in control of the retirement process had better outcomes in retirement.
Planning and preparing for your retirement will give you a sense of control and purpose. Whether you decide to start exercising more, eat healthier food, take more holidays, or volunteer, the simple act of re fashioning your life post retirement can help the transition from worker to retiree status.
If you don’t feel quite ready for the role of retiree then working less hours is a good alternative. You can still sell your Practice but work on as a consultant during an agreed transition period. This allows you the opportunity to step away from the day-to-day operational management of a practice but carry-on working, which can help with feelings of self worth. It also allows you the time to start introducing other interests into your life and adapting to a future away from the office.
Retirement doesn’t have to be an all or nothing step. Working out what is best for you is the most important decision. Here at Practicesales.co.uk we work with people to discover what you want from your future and how we can help you achieve that. Maybe 2021 is the year for the new you to take shape? Why not contact us on 01823 765085 to find out more about how we can help you achieve that.