New stage of life
The transfer marks the beginning of a new stage of life. You will finally have some time for yourself and will probably have a bit more space in your calendar. For some, this might be a welcome change. Others might be afraid they will feel an emptiness without their former business. It is best to think of it as a new stage of life, in which you could use your newfound free time to share your expertise with other starting entrepreneur as an advisor. Or you could start volunteer work. Try to prepare for this transition phase in advance and think about what you will do after the transfer. You can make this process easier by setting up a handover process together with the new management. Or you could agree to come on board as an advisor. This will make the transition more gradual.
You will also have to think about a financial plan. If all is well you should have significant assets after the transfer, as well as shares in an investment bv (PLC). In an ideal situation, you will have both income and assets. Sit down with an advisor to explore the best way to manage and safeguard both.
Your income can consist of:
- annuity payments
- profit distributions
- rent from real estate
- stock dividend
- interest on bonds
- interest on savings
- other income
You can adjust your income from these sources by using the various components differently. Or you can choose to push back or bring forward the date on which you start receiving pension, annuity, and profit payments.
When you dissolve your business and draw up a balance sheet, the following assets could emerge:
- real estate (own home or business premises)
You can use these assets to fill the gap between your income from pensions and annuities and your expenses. The return from these assets varies and depends on the type of investments you made.
When creating a new financial plan, do not hesitate to ask others for advice (in Dutch). You can create a complete financial plan when working with an advisor. The goal is to plan your finances in such a way that you can live the life you want. Use your reserves as best you can, maximise returns, and hedge risks as much as possible.