Retirement Onboarding - When is it Too Late to Start My Retirement Planning?

Question: “My retirement is a couple of years away, and this talk made me realize that I haven't planned yet. Is it too late?”

Sue Weiler-Doke Profile Picture
Share
Contributors David Brown Profile PictureDavid Brown

Answer:

“The best time to plant a tree was 20 years ago. The second best time is now.”

Chinese Proverb

Going deeper into this, here’s what is more typical for a construction business owner:

  • They have more parts and pieces in place than they think. They just haven’t put a lot of intentional thought into it, much less put pencil to paper (or fingers to spreadsheet) to make a plan.
  • They need to find someone who can work like an architect and “pull” the plan out of them over a series of discussions and analysis. Someone who can help them turn their disparate ideas and fuzzy vision into a viable plan with clear action steps that are integrated with their business.
  • Business owners who know clearly what must be done for their retirement planning can integrate that with their business strategy and planning.

This is Part 13 of a 15-Part Series


Topics Covered in the Series Include:

  • Retirement, Time, and Money
  • Future Vision for Your Company
  • Post-Retirement Business Involvement
  • Where to Turn for a Helping Hand
  • The Ideal Lifestyle for the Retiring Contractor

Interested in learning more? Contact us.


Retirement Onboarding - When is it Too Late to Start My Retirement Planning?
Retirement Onboarding is something that construction business owners must regularly be working on for themselves and other key team members....

Retirement Onboarding - When is it Too Late to Start My Retirement Planning?
Retirement Onboarding is something that construction business owners must regularly be working on for themselves and other key team members....

Business Operating System
Contractors must have a clear vision with specific goals. It is the strength of the business operating layer of their companies that will keep them on track to achieve those goals.
4 Different Strategic Planning Objectives
Before moving into a strategy or planning session, understand which of the four broad objectives you are working to accomplish knowing they may be different for different parts of the company.
Project Delivery - Lease Leaseback
Project Owners typically manage the financing of the project. In certain circumstances this does not always make sense, which is where Lease-Leaseback or Build-to-Suit project delivery methods come in.