“the majority of business owners in their sixties delay addressing the risk diversification of their wealth as they age. If you look at where the balance of their net worth is held, it’s usually in three places: the home, stock portfolio and business. Generally, the business can represent 60 to 80 per cent of their total net worth. It’s inevitable that owners with this risk profile are working hard and push off decision making until an emergency leaves them with regrets. Good management for the business owner means acknowledging the hard truth about being in the boomer cohort.”

Full Text at Globe and Mail