Many of my recent consulting assignments continue to be focused succession planning -- especially regarding management of the transition to “retirement”. It’s a challenging area in these volatile times where asset values, income requirements and the reliability of passive incomes are not easy to forecast.

With the average age of farmers both sides of the Tasman nearer 60 than 50 many business owners are contemplating their options. Some are proactive about this and working with time on their side. Others are slower to realise the time for transition to “active retirement” is almost overdue. Those in their early 60s will have fewer good summers to gamble with. For them, there is a heightened sense of urgency to get into this next phase while their health and resources enable them to enjoy the fruits of their life's work.