I think I'm turning 65 !! - Succession Plus

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I think I'm turning 65 !!

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I think I'm turning 65 !!

By , June 10, 2011

To put the number of retirees in Australia into perspective, consider the number of Australians turning 65 each week between 2000 and 2030

As you can see, the number of retirees has been on the rise since 2000. And this trend is expected to continue for another 15 years or so. The first baby boomer ( born in 1946 after World War II ) turned 65 in 2011.

Accordingly, the proportion of Australia’s population aged 65 or above is projected to rise from around 14% currently to 24% in 2050. Similarly, Australia’s median age is expected to increase from around 38 years of age currently to 43 years in 2050.

Interestingly, many of this generation own and run businesses – some small some large, some family owned, some larger corpoates with hundreds of employees – this reporesents a large body of wealth that needs to be carefully managed as a substantial transition is about to occur.

Craig West

Craig West

Managing Director | Succession Plus

Craig West is a strategic accountant who has over 20 years’ experience advising business owners. His background as a CPA in public practice, provided invaluable experience in the key issues of concern to business owners. Following 6 years of study to gain two masters degrees, Craig focused on Capital Gains Tax (CGT) for business sales advising on strategic management of tax issues. This experience formed a very strong view that business owners (and often their advisers) were unprepared and unaware of the steps required to prepare a business for exit.

Craig now acts as a strategic mentor for mid-market business owners and has written four critically acclaimed books on employee incentives, succession planning, asset protection and exit strategies. Craig has conducted numerous seminars and keynote presentations throughout Australia & internationally, including adviser education programs for the Institute of Chartered Accountants and CPA Australia.