What is your exit strategy?
MOST EYECARE PROFESSIONALS still expect to be working past the age of 65 and one in six plan to never retire, according to the 2021 INVISION Big Survey. Perhaps even more surprising was the finding that one in three don’t yet have an exit plan.
While a small majority said their pension funds were in good shape, and many obviously love their work, the lack of aggressive retirement planning should be a cause for concern, say small business consultants.
David Brown, CEO of Edge Retail Academy,said that regardless of how ECPs felt about their jobs, they should be asking themselves: At what age do you plan to be in a position to retire? “At least then they can genuinely choose” how to spend the last decades of their life.
According to the survey, more than three-quarters of ECPs plan to stay active in the eyecare space, either on a volunteer, teaching or consulting/part-time basis once they retire from full-time work. Only 17 percent said they planned to cut all ties with the industry
The 2021 Big Survey was carried out between September and October, attracting nearly 400 anonymous responses from owners and managers of independent vision businesses across the United States. The full results will be published in the November issue of INVISION and are available online.
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