December 4, 2014

100 candles on your cake

According to data by the Office Of National Statistics, quoted in the Sunday Express on September 28, 2013 by Kate Ferguson, the number of British people living past the age of 100 has increased five-fold in 30 years. “It is estimated that 465,500 people were aged 90 or above in 2012 – an increase of 33 per cent on 10 years ago.”

I am sure the statistics for other countries must show a similar trend.

All these statistically given “facts” should not mean that you should be working longer and longer. Just the opposite – you have to find ways of enjoying life after you’ve stopped working. As an employee, you have to ensure during your professional life that you are taken care of financially after your retirement date.

But as a business owner, you have more options.

Statistics give the distribution for life expectation, but cannot show where each of us fall in that distribution. So not knowing how long each of us will live, what would be the logical approach for a business owner when planning for the future?

For me, the ideal is this: sell your business as soon as you can, and make an agreement with the acquirer to work there as long as you like.

Additionally, you should ask for an office at the company premises – and that applies even if you don’t do anything for the company, and you don’t get paid by them. Trust me: you will understand the value of this room when you don’t have an address to go to in the mornings. ☺

Happy 100 candles…

The article of Ms. Ferguson: 100 year olds at record high as Britons live longer

Oldie of the week: Bee Gees – Staying Alive (1977)

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