Zoom Call with Carol Williams Knowing When It's Time to Retire
The Zoom call this week was presented by Carol Williams and was a combination of preparing for retirement. and adapting to the situations that life presents as well.
As Carol described her transition it was thrust upon her to attend to her ailing husband. With the pause, she essentially was away from the day-to-day operation of her businesses for over 18 months and during that period, she eased herself away from the day to day and as she had 2 separate business entities, she had a ready brand looking to acquire her business at an amount that allowed her to address other areas.
Our real estate business offers flexibility that is not common to other businesses. As such we have the ability to control how we work, when we work, and with whom we work.
Carol had a property management company as well as her real estate business. She had a local company that had approached several times over the years and as she felt the need to take time for herself, it was a convenient and logical transition for her.
Not all have the same needs or desires. When considering retirement, first would be the financial reality of monthly income to maintain a quality of life we want.
Then there is the 'Bucket list' to satisfy and having the resources necessary to do all that we want to do.
Then there is the time to do it all and that is a variable that we have no answer to.
How will we spend our time when we retire?
Have we put aside hobbies that we will now be able to address more frequently?
These are considerations that will justify the time away from work, or maybe allow for both with part-time work.
There are things that we all like to do and we should spend those days catching up on the things we have put off. The ideal mindset is to be able to be appraising those final days with the mindset of so what, and not I wish.
The ideal way to retire is when one has no debt. Having a home that needs no work and sufficient income to manage the home as well as allow for some extras. Health insurance is a must.
After time in business, there will be an evaluation to address past clients, and what will you do for your past clients.
Some people will choose to maintain their license and refer out their clients to agents that they themselves would work with to sell their own house.
If the client base is such that it would be viable to sell off the book of business, that is another consideration.
Notifying those clients that you are stepping down and giving them that referral to an agent that you trust is a good way to exit and feel that you are doing right by your sphere.
However one chooses to transition it is still something that needs thought and preparation, and just maybe offers a bit of financial gain as well.
Zoom Call with Carol Williams Knowing When It's Time to Retire
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