Retirement Planning

There can be many unspoken retirement assumptions made by owners. Just a few include:

Long term health will be good

Long term returns on investments will be strong and steady

Retirement living expenses will be less

The ease with which concentrated value locked-up in a dealership can be “monetized”

The real value of non-cash and securities assets

Every day will be Saturday/Sunday.

Over the past 30 plus years, DPS has concluded that at the core of every successful retirement is a realistic Financial Retirement Plan and a realistic Personal Retirement Plan. The following is a sample of the DPS Retirement Planning Checklist:

RETIREMENT PLANNING CHECKLIST

WHAT IS THE AMOUNT AND SOURCES OF YOUR RETIREMENT INCOME?

IS YOUR RETIREMENT INCOME INDEPENDENT OF YOUR SUCCESSOR’S ABILITY TO RUN THE BUSINESS?

WHAT HAPPENS TO YOUR RETIREMENT INCOME IF THE BUSINESS FAILS?

HAVE YOU COORDINATED THE OTHER SOURCES OF YOUR RETIREMENT INCOME TO ASSURE ADEQUATE CASH FLOW IN THE EVENT THAT THE BUSINESS GOES INTO A SLUMP?

ARE YOUR RETIREMENT ASSETS PROPERLY POSITIONED TO ALLOW YOUR RETIREMENT INCOME TO KEEP PACE WITH INFLATION?

HAVE YOU COORDINATED YOUR QUALIFIED RETIREMENT PLAN BENEFICIARIES WITH YOUR ESTATE PLAN?

HAVE YOU TAKEN ADVANTAGE OF OPPORTUNITIES TO DIVERSIFY YOUR ASSETS IN A TAX EFFICIENT MANNER?

DO YOU UNDERSTAND THE RISK AND REWARD CHARACTERISTICS OF YOUR INVESTMENT PORTFOLIO?

HAVE YOU CONSIDERED THE INCOME AND ESTATE TAX RAMIFICATIONS OF THE BENEFICIARY DESIGNATIONS FOR YOUR RETIREMENT PLANS?(IRA, 401K, PROFIT SHARING)?