The game plan is to sell the business when I get to 50 (3 years). The trick is to sell when you don't need to sell to achieve a higher sale price. I have a few ideas as to what I will do with all my free time including some voluntary work. (It's a target to work towards-it's not super-critical but does focus the mind.)
Have a final salary pension scheme from 14 years with a bank-not brilliant, but can be taken from age 60.
Knowing what I know I had no intention of saving into a "pension" as they are too inflexible. (I could give you some very logical reasons but it would make this post too long.)
I prefer to pay taxed income into various types of saving/investment but know that there will be no tax to pay on it when I want to draw on it; who knows what the rates of tax will be when we retire.
Have some ideas as to how to earn some "pocket money" to keep me in beer between selling the business and bank pension and then state pension kicking in.
If all else fails I'll just have to run the business for longer and then perhaps run it down as my body gets more decrepit.
