Mergers & Acquisitions Advisory

A Neumann & Associates, LLC

August 21, 2018

Key Considerations If You Want to Start a Business During Retirement

By Achim Neumann

When most people consider their retirement, they will usually conjure up images of days mowing the lawn, before firing up the grill with a beer mid-afternoon, spending long trips away during off-peak hours and grabbing some valuable family time. In reality however, many are bored and restless when they retire after so many years of working, and they see their retirement not as a chance to relax and enjoy life, but to get their teeth stuck into something new. Should you fall into this category of retirees looking to use their 401K or savings for a business investment rather than a vacation, here are are a few key considerations you must first make.

Do You Have The Skills?

So let’s say that you have the time on your hands, you have a lifetime of experience, you likely have the necessary funds which is required for investment, but before you get started you must be brutally honest with yourself. Simply understanding how the business world works is not always enough to actually make a success of it and you must remember that times move quickly. Be truthful with yourself and think honestly whether or not you have the necessary skills to turn your business idea into a success.

Do You Have The Energy?

Restlessness after finishing your working life is perfectly normal and it makes good sense to want a project to work on. There is however, a grand difference between having the energy to put into a side project, and the energy levels which you’ll need to launch your own company. Ask any successful business person and they will tell you that those early years were the most difficult, working hard, learning, making mistakes and ultimately finding their way in this new world. Even some younger people do not have what it takes to make a successful business, so you must address whether or not you still have that spark, and the right amount of energy which a nascent business demands.

Risk Calculation

There will always be some amount of risk attached to launching a business from scratch, and you need to assess how much risk you can, or are willing to take. Even though you may be in a better position than many regarding getting your start-up off the ground, based on your lack of time and financial constraints, you will still be risking a great deal of what you have built over your lifetime. Businesses fail every single day and you must ensure that you have calculated your financial liability should the worst happen.

Dedication of Time

A trap many fall into during their retirement is thinking that the grass is greener on the other side of the road, and invariably it is not. With this in mind, you may find that the extra work and the beginning of a project will ease your restlessness, and it probably will, but you must be prepared to feel bad that you are not clocking up some more minutes with the grandchildren. If you do wish to start a business in retirement, consider the amount of time you’ll need to dedicate, and work out how this fits in with the benefits which retirement has given you.

There is nothing to say that you won’t be successful, but you should think long and hard before you decide to dust off your desk and launch a new business after you have retired.

About A Neumann & Associates, LLC

A Neumann & Associates, LLC is a professional mergers & acquisitions and business brokerage firm having assisted business owners and buyers in the business valuation and business transfer process through its affiliations for the past 30 years. With an A+ Better Business Bureau rating, the company has senior trusted professionals with a deep knowledge based in multiple field offices along the East Coast and has performed hundreds of business valuations in its history. The firm’s competitive transaction fees are based on successfully completing transactions. For more information, please contact A Neumann & Associates at 732-872-6777 or

Comments are closed.

Any questions? Please contact us at 732-872-6777
Call Now

Client Testimonials

“Your vetting is simply outstanding, among the best I've seen from a broker.”

Eric H., Investor

“I recently contacted A. Neumann and Associates about getting a valuation of my business done. I spoke with Marc, who explained the process in detail. After meeting with Marc in order to get a clear understanding of my business, and what I was hoping to accomplish. His patience in answering all my questions and his knowledge of the proper way to market my business gave me great confidence that this is the firm I will be using to sell my business for max value. Working with Marc at A Neumann & Associates was very easy and professional. I did not know all that was going to be involved in selling my business but they helped me through the process. What I thought was going to be a just another one of those pushy sales companies was just the opposite. Polite, knowledgeable, and a pleasure to talk to and deal with. I highly recommend this firm to anybody who wants to sell now or down the road. Marc not only knows his stuff, but actually is a real nice guy.”

Double Diamond

“Used A Neumann & Associates to sale my business. could not imagine having done it with out the patience and experience Gary provided. Thanks Gary,”

Dennis Frazier

“Working with Marc and his company was a pleasure. What I thought was going to be a just another one of those pushy sales companies was just the opposite. Polite, knowledgeable, and a pleasure to talk to and deal with. Marc handled most of the interaction and he has one of the greatest demeanors. Again, it was a pleasure working with him and his firm.”

Douglas DiCeglio

“I recently completed an acquisition using A Neumann & Associates. Tony Valentino was very helpful and accessible during the entire process. They do a thorough job vetting both parties and got us to the finish line.”

Srini Mudambi

“Claus out of Florida helped us with the sale of our business. We had never done anything like this and him and his team walked us through the process from start to finish. We had some challenges through the process and Claus continued to show up even in the difficult conversations.”

Colby Harris, Co-Owner, Del Mar Designs

“Claus Madsen thoroughly helped us with selling our company. From the 1st introductory meeting explaining to us what was possible, to providing us with resources to assist with the sale. Claus was invaluable throughout the whole sales process. Claus was with us every step of the journey and always made himself available for any questions or issues that came up along the way. If you are interested in selling your business, I encourage you to reach out to Claus and the ANA team so that they can let you know what’s achievable. These guys will make it happen!”

Ron Harris, Co-Owner and Vice President, Del Mar Designs

“A Neumann & Associates is the only business broker I would use or consult with. They have assisted with 3 business sales over the past 15 years with me. They are honest and sincere and have always performed better than my expectations. They are the only one i would use for the sales of my businesses.”

James Belanger, Business Owner

“I wanted to take a second to commend the exemplary customer service from both you [Karin Neumann] and Mr. Valentino. It’s both a rarity in the industry, and very much appreciated.”

Andrew G., Investor

“We worked with Neumann & Associates to investigate the purchase of a research company in 2010 and found Achim to be capable, forthright and realistic. His depth of experience enabled us to fully understand our options, offering creative options that might enable the acquisition. While we didn’t acquire that particular company at that time, we know exactly who to call whenever we’re looking to buy or sell a business.”

Daniel Coates, Buyer
view all testimonials

Contact A Neumann & Associates, LLC

If you are considering selling your business, please contact us to learn more about our comprehensive service spectrum. Our experienced professionals will answer all your questions about selling a privately held business in complete confidentiality. Please fill out our contact form, or call us at 732-872-6777. We will contact you directly and will never identify ourselves to your employees.

call us now
Contact Us for a Free, Confidential Consultation

Experienced M&A Advisors available

Full Name
Email Address
Phone Number