5 Questions to Ask Yourself if You’re Looking to Retire in the Next 3 Years

Planning to retire in the next few years? For many business owners, the transition out of the company they've built is one of the most significant events of their professional and personal lives. The sooner you start preparing, the smoother and more successful the process will be. Here are five key questions to ask yourself now:

1. Do I have a succession plan? 

Whether you’re passing the business on to family, a management team, or preparing for a sale, a clear succession plan is essential. Who will take the reins and what do they need in order to do this successfully?

2. Is the business ready without me? 

Buyers and investors look for businesses that can thrive independently. Consider how reliant your company is on your personal relationships, expertise, or day-to-day involvement.

3. What is my business worth?

 Understanding the true value of your business is crucial—both for setting expectations and for planning your financial future. A professional valuation can uncover areas for improvement and increase saleability.

4. Are my finances aligned with my retirement goals?

 It’s worth stress-testing your personal finances. Will the sale or transition of your business give you the lifestyle you want in retirement? And have you considered the tax implications?

5. What do I want my legacy to be?

Retirement isn't just about moving into an exciting new chapter, it’s also about what you leave behind. Think about your employees, your clients, and the values you want the business to carry forward.

At Symmetry Corporate Finance, we work with business owners across every stage of exit planning. If retirement is on your horizon, let’s talk.