As a practice owner professional or business owner, a single, lump-sum payment on the sale of your business is something you’ll have been anticipating for a long time.  Despite having spent many years dealing with the value of your business in terms of goodwill and profit and loss, you’ve not enjoyed its overall value as physical cash.  The question is when you do receive the lump sum, how should it be invested?

Selling a business such as a dental practice can be stressful and time-consuming.  After the event, you’re likely to find yourself in a state of uncertainty – feeling as though you must act without knowing how.  However, as long as your money is held in a safe account, such as an account with National Savings & Investments, it’s important to pause, take time, and adjust to this new chapter in your life.

When you’re ready, it’s so important to consider who and what’s important to you as well as your desired lifestyle in retirement.  Retirement is one of life’s major transitions, so you need to consider the cost of your desired lifestyle and financial goals e.g. providing for loved ones and perhaps paying off your mortgage.

However, when you receive a one-off lump sum from the sale of your business, it’s very likely you will be seeking a return that preserves its value over the long-term, in other words, enjoying a return above inflation.  Therefore, you need a Wealth Plan which includes an investment portfolio that is consistent with your desired lifestyle and importantly, how much investment risk you are willing, able and need to take.

Most retired business owners need their capital to be invested in a way that provides a long-term, sustainable income during their retirement – in fact, many retired business owners seek to live the life that’s important to them yet, leave as much as possible for their loved ones.

A large, lump-sum payment from the sale of your business is a celebratory time.  However, it can be difficult to know how to plan and manage your new wealth.  Getting in-depth, planning and advice from an experienced and professional wealth planning company such as Wells Gibson can be invaluable in securing all that you value.

Are you anticipating a lump-sum payment from the sale of your business within the next 5 years or, have you received a lump-sum payment from the sale of your business?  Contact Wells Gibson and discover what your financial future could look like.