You Sold Your Business, What to do with your money?

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Having sold a number of businesses myself, I can attest that the value you think the money has on the transaction date, is not the same a few years down the road, and almost never gets you all you think it will get you. I say this to emphasize the importance of preserving ones wealth. Depending what stage in one’s life one is at, the most logical consideration when planning what to do with ones money post a sale event is to asses how much realistic forward room one has.

What kind of life style does one expect and how much will that lifestyle cost? How realistic is it? Once those have been taken care of, the “what if” scenarios can now be played. A professional wealth advisor can certainly play through any such what if scenarios with today’s software technology and be able to asses and consider almost any scenario and with any anticipated forward room. Such professional assessment is critical to your decision making of what financial instruments to use, and or invest your money in.

If you are selling your business but not planning on retiring, I recommend you find a new office or shop before selling! The reason I say that is that often entrepreneurs don’t really retire! They simply refocus their energies and vision, whether on other business ventures or other non business activities.

So what is your plan? What will you do after you sell? And do you have the right team to help you preserve that wealth after the sale? What will you do with your money?