5 Perks of Half-Retirement That Every Business Owner Craves

Check out Jeremy’s latest podcast on Half-Retirement by listening on “Apple Podcasts” or “Google Podcasts” or read below for 5 Perks of Half-Retirement That Every Business Owner Needs.

#56 – Many business owners retire by selling off their business. But what if we told you there’s a better way?

A way to maintain your business income after retirement. A way that makes your retirement more meaningful. A way that lets you keep the business you’re so passionate about, while losing all of the stress of managing it!

It’s called Half-Retirement.

In this episode, Jeremy Keil talks to Jim Muehlhausen, founder of Half-Retire.com. They dive into what Half-Retirement is all about, how it helps business owners maintain a continuous stream of income, and ways in which it helps you live your dream retirement through an unbelievable work-life balance.

Jim discusses:

  • Why Half-Retirement is extremely beneficial in the current low-interest-rate environment
  • How to downsize your workload, while still holding a strategic position in your business
  • The advantages of a continuous income stream over a lump sum cash out
  • Incentives to keep your key employees from leaving
  • And more

5 Perks of Half-Retirement That Every Business Owner Craves

  1. Keep the Ownership, Lose the Stress

We’ve seen many business owners sell their business not because they received a great offer, but because they got frustrated with the stress of managing their business.

Half-Retirement helps you keep the stream of income that you’ve worked so hard to create, but ditch the stress that typically accompanies that income.

If you can find the right people to take over your day-to-day operations, you can significantly downsize your workload.

But in doing so, it’s important to keep in mind that you’ll need to offer great incentives to keep your key people from leaving. After all, once you retire, they are going to be the backbone of your business!

One way to do so is by offering phantom stock, which motivates your employees without compromising your ownership in the business.

  1. Maintain Your Pre-retirement Lifestyle

Interest rates have been incredibly low recently.

So, if you sell your business for one lump sum payment and invest the proceeds, it’s likely that you’ll earn much less than what you used to earn through your business.

This reduced income stream after retirement can significantly affect your post-retirement lifestyle.

However, if you continue to own your business and receive a consistent income stream, you won’t need to compromise on your pre-retirement lifestyle!

  1. Add a Sense of Fulfilment to Your Retirement

All entrepreneurs know that managing a business can keep you extremely busy.

But most of them enjoy doing it, even if it gets stressful at times. When you sell your business in retirement, you might suddenly feel lost and without purpose.

If you want to have something meaningful to wake up to every morning, Half-Retirement can be the perfect solution for you!

It means that you can remain involved in your business, participate in its key strategies, and continue to work on something you’re deeply passionate about.

  1. Stay Connected

Having worked on your business for several years, you might have formed deep interpersonal connections within your company.

These are people you care about. Some of them might have also become your closest friends!

So, what happens when you stop going to work after selling off your business? You start feeling disconnected with your friends.

Being involved in your business to some extent through Half-Retirement is a great way of maintaining meaningful relationships.

  1. Greater Work-Life Balance

Do you know why retirement is often referred to as the golden years of your life?

Because it’s when you’re able to do things on your bucket list that you’ve never had the time to do. Plus, you get to spend more quality time with your family and friends.

So, does that mean staying involved in your business after retirement stops all of that fun?

Not at all! There are many Half-Retired people who have been able to take several months off at a time from their business, to enjoy their retirement years. (Click here to read the success stories of Half-Retired people.)

In fact, Half-Retirement is designed to help you achieve a greater work-life balance. You can work on your passion while fulfilling your retirement dreams. It’s nothing like the stress of managing a business full time!

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To learn more about Half-Retirement, and how to achieve it successfully, check out the resources below.

If you have any questions regarding your retirement, investment, or tax planning, feel free to contact us!

Resources:

Connect With Jim Muehlhausen:

Connect With Jeremy Keil:

About Our Guest:

Like most entrepreneurs, Jim Muehlhausen has an eclectic background ranging from CPA, franchisee, attorney, business owner, consultant, franchisor, public speaker, university professor, and book author. About 20 years ago, Jim found his true passion, serving as a consultant, business coach, and advisor to hundreds of businesses. Jim has conducted 10,000+ one-on-one consulting sessions with business owners around the globe. He has written two well-regarded books, “The 51 Fatal Business Errors and How to Avoid Them,” and “Business Models for Dummies.” Jim also created the step-by-step Half-Retire Blueprint, which helps business owners create a profitable alternative to selling their business via Half-Retirement.

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