Career Tips: Preparing for Executive Retirement

Meeting Planning

Business leaders know how crucial planning is to their company’s success, but they don’t always apply that same level of preparation to their personal finances. Executive search firm Witt/Kieffer reports that 71 percent of CEOs ages 55–59 have no retirement plan. That’s a recipe for disappointment, say a trio of financial-planning experts in the San Francisco Bay Area:

  • Haitham “Hutch” Ashoo, CEO of Pillar Wealth Management, says deciding what you want to do in retirement will determine how much money you’ll need. Make adjustments to goals as needed.
  • Jim Kohles, chairman of RINA Accountancy Corp., recommends that business owners who intend to sell their company consider setting up an S corporation, which will leave them with some control over operations as they phase themselves out.
  • John Hartog, a partner at Hartog & Baer Trust and Estate Law, says you should consider your values, not just taxes, when deciding what to do with your assets and setting up inheritances.