How to Retire When Your Business Partners Are Sticking Around
Like many small-business owners, Victoria Collins had much of her retirement savings locked up in her company. In 1990, she co-founded a financial planning firm that later became First Foundation, an Irvine, California-based investment adviser.
Before First Foundation publicly listed its shares, in 2014, Collins and her partners didn’t have a complete formula to buy one another out. She was ready to retire by 2011, but cashing in her stake simply wasn’t an option. Instead, Collins pulled back from some duties but held onto her shares and maintained a seat on the company’s board.
Read INC’s article here