When I talk to business owners who are thinking about succession — selling their business, this is often taking place because the business owner is thinking about retirement. So what are they going to do in their retirement? These are often business owners who have worked long hours in the business for years. Their business has taken up a lot of their time.
I had one example of a client who had a long list of projects, etc. that he was going to do when he retired. This list was all competed within the first six months of his retirement. Now what?
Hobbies are a good thing to think about when you are considering what to do in your retirement. But hobbies will not just happen, you have to work on these years before you are retired. So if you are within 10 years of retirement you should be thinking about these hobbies.