If you’re a business owner and thinking about retirement, one option is hiring a general manager or getting a family member to run the company. This approach can generate passive income for you. But if you fear the company consuming your time and energy, you might consider shutting down instead. Before walking away from a potential cash cow, explore the income potential of selling the business.
“A lot of business owners do not realize the immense value that lies in their businesses, and that selling can set them up for a secure, stress-free retirement,” said Joel Keylor, co-founder and CEO of Tresle, a platform that connects established private companies with verified buyers and capital.
The money received from the sale of a business is more lucrative than simply walking away, and could provide the cash you need to maintain your lifestyle in retirement.
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