Latest News

Peter McKnoulty shares real life circumstances that highlight the importance of Transition Planning (Part Three) 

In the last two blog posts, Peter McKnoulty, founder of Transition Planning Australia, gave some examples of situations that demonstrate the importance of planning for your transition into retirement, and how that can be an integral part of the broader business succession planning process. This week Peter shares three more real life situations that prove the multitude of ways in which […]

Read

Peter McKnoulty Shares real life circumstances that highlight the importance of Transition Planning (Part Two)  

In last week’s blog post, Peter McKnoutly, founder of Transition Planning Australia, gave some examples of situations that demonstrate the importance of planning for your transition into retirement, and how that can be an integral part of the broader business succession planning process. This week Peter shares another real-life situation that proves the multitude of ways in which transition planning can […]

Read

Peter McKnoulty Shares real life circumstances that highlight the importance of Transition Planning.

In my experience, transition planning is a critical part of the broader business succession planning process – whether that be a family intergenerational succession plan or a succession plan involving sale of a business to a third party. While I believe transition planning is a critical part of business succession planning, it is equally important […]

Read

An Introduction to Transition Thinking

The process of retiring takes a lot of planning and forethought. To successfully transition from work to retirement it is important that you first grasp the concept of transition thinking. Transition thinking for your business Transition thinking is different from the type of thinking you would normally use in the day-to-day running of your business. […]

Read

Why it is important to look after your mental health in retirement 

When people consider their retirement they most commonly focus on the financial element, “Do I have enough money to retire?” While financial stability is undoubtedly a key ingredient in the recipe for a happy and successful retirement, there are other factors that are just as important but often overlooked. At Transition Planning Australia, we have […]

Read

The Importance of Physical Health in Retirement 

At Transition Planning Australia, we have identified five key factors that need to be satisfied in order for you to enjoy a happy retirement. These are; financial security, physical health, mental health, social connections, and a sense of meaning or purpose in life. Each of these five keys requires serious consideration as you are transitioning […]

Read

Have you considered becoming a teacher or mentor in retirement? 

As you head towards your retirement you are probably considering the vast ways in which you might put yourself to use outside of your traditional career. One thing people often don’t consider is becoming a mentor or teacher. Think about it; you have a lifetime of skill and knowledge under you belt. Just because you’ve retired doesn’t mean these things […]

Read

Are you on your way to being financially prepared for retirement?

Here are eight questions to ask yourself, to discern whether you are on your way to being financially prepared for retirement. It’s important to seek Financial Advice, and here are some of the issues you will need to work through. 1. Are you on your way to paying of your debts? Pay off your debts […]

Read

The importance of social connections in retirement.

The transition process into retirement is a lot more complicated than people realise. Many baby boomers spend little to no time at all thinking about how they will transition into retirement this can be dangerous as retirement is a huge change in a person’s life and can without proper planning they can find themselves at […]

Read

How not to leave your business when you retire

Over 70% of business owners have the majority of their wealth tied up in their business. That is why it is so important to act decisively when transitioning into retirement. Business owners often leave their business unsuccessfully, usually through a lack of planning. It is important to carefully plan your transition to achieve the best […]

Read

New scientific evidence supports the importance of transition planning.

New research investigating the causes of ageing has provided new information about the major sources of continued mental and physical health and well-being in the later stages of life, and what we can do to improve these years for ourselves. Here are three of the specific ways in which this scientific evidence has pointed to […]

Read

The importance of creating wealth outside of your family Business

If the bulk of a family’s wealth is tied up in a family business, major complications can occur when it comes to providing an inheritance for the family members who are not involved in the business. In this case, the family will need to consider the accumulation of non-business assets. This will help to provide […]

Read

Planning your retirement is like buying a car – work out what you want first.

“How much do I need in retirement?” is probably the most commonly asked question for those aged 50+. You may even have asked this question of your own financial advisor – maybe more than once. But it’s a bit like walking into a car yard and saying “how much do I need to buy a […]

Read

This might be why you haven’t started planning for retirement.

Most baby boomers say that they plan to retire within the next 10 years and yet only a small number have actually made any solid plans for their retirement. Business owners in particular have difficulty ‘letting go’ of their businesses and moving on to the next phase of their life. Here are some of the […]

Read

How to create realistic and achievable retirement goals

When you think about your retirement, you probably have a vague picture in your mind of fishing (or maybe just lazing) on a white sandy beach somewhere, or maybe of you and your partner drinking champagne in France. While it’s fine to dream, it’s important that, as you approach retirement, you actually start to clearly […]

Read

Consider an interim management team for your family business.

What is a business Interim management team? Founders of family businesses often consider establishing an interim management team to manage their family business if something unexpected happens and the founder is no longer able to manage the business. If you are a business owner, you should consider establishing an interim management team even if you […]

Read

How to Find a Sense of Purpose in Retirement

When we retire, we look forward to a leading a more relaxed lifestyle with less responsibility and commitment than what was possible in our working life. Often, what we don’t realise is that with the responsibility and commitment of work comes a sense of purpose and meaning. When we retire, we often miss the feeling […]

Read

Don’t underestimate future medical expenses in retirement.

One of the most common mistakes retirees make when preparing their retirement budget, is underestimating their future medical requirements. When you are fit and healthy as most new retirees these days are, it is hard to imagine that one day you might encounter some serious or ongoing health problem. However, the truth is there is […]

Read

Kid Friendly Activities in Brisbane

Looking for something fun to do with the grandkids in Brisbane? Here are some ideas. Visit GOMA Children’s Art centre Taking kids to an art gallery may sound like a nightmare waiting to happen, but GOMA isn’t your average ‘no touching’ art gallery. The GOMA children’s art centre works alongside artists to create installations that […]

Read

Five great holiday ideas for retirees

Looking to get away and see something new? Be inspired by this list of top five holiday ideas for retirees. Caravan around the country Caravanning is the favourite past time of retirees and for good reason. When else in your life do you have the time to drive around exploring all corners of this beautiful […]

Read

The need for family business transition planning

As Australia’s baby bombers retire or move into retirement, business succession planning – or business transition planning as we at Transition Planning Australia prefer to call it – is becoming an increasingly important concern for small and medium size businesses, including family businesses. In the past decade, the first of the baby bombers have reached […]

Read

It’s only the rest of your life

Imagine you are getting tired, not the tired at the end of a day, but tired of what you are doing and how you are living. We have all felt that at sometime in our life. Sometimes when people ask me about what I do for work, I say that I help people answer questions, […]

Read

Family dynamics – Common Problem Areas

A unique set of dynamics must be considered when dealing with transition in the context of a family business, where one generation of the family is to take over the operation of the business from the previous generation.  Transition from the first generation to the second generation is one step which can be managed successfully […]

Read

Want to Know More?