Beyond the Numbers: Financial Planning that Prepares You for Life After Business
- Tom Bronson
- Jun 5
- 4 min read
When most business owners think about retirement planning, they go straight to the numbers: account balances, investment strategies, and tax efficiencies. This tactic is a logical place to start, especially for those who’ve spent years focused on revenue, margins, and maximizing business value. But that narrow focus often misses the bigger picture of retirement.
According to Jeff Sandene, founder of Sandene Strategies and longtime friend of Mastery Partners, retirement is about much more than hitting a magic number. While you have to have the means to continue a certain lifestyle, there are four additional components to consider to achieve your ideal retirement equation. Those other components include purpose, identity, relationships, and readiness for a new chapter of life. Without planning for these non-financial aspects, even the most financially prepared business owners can find themselves unfulfilled or unsure of what comes next.
The Emotional Side of Exit
Jeff shared a sobering statistic: 75% of business owners report profound regret one year after selling their business. Surprisingly, this regret is not tied to financial outcomes—it stems from a loss of identity, purpose, and connection. “There were people who received life-changing amounts of money, but they still felt depressed and a sense of loss,” Jeff says.
This regret is a “void” that few business owners anticipate. After years—sometimes decades—of pouring their energy into a business, walking away without a clear “life after business” plan can be emotionally jarring. Planning for this transition is more than investments and tax strategies. It must also include purpose, fulfillment, and relationships.
A New Dimension to Financial Planning
When looking for a financial planning partner, find one that integrates non-financial planning into their process. The firm should help clients consider their purpose, social connections, and intellectual stimulation after retirement. This holistic approach is key to a healthy and rewarding next chapter.
Purpose Beyond the Golf Course
As a business owner, Jeff urges others to challenge the stereotypical view of retirement as a never-ending vacation. Travel and family time are essential parts of the plan, as long as they remain parts and aren’t the whole plan. Jeff urges Business owners to go beyond “killing time” and instead seek ways to stay engaged, learning, and contributing.
Don’t forget that your spouse and you might have different ideas of what this stage of life looks like than you do. One memorable client was a frequent corporate traveler whose spouse dreamed of exploring the world in retirement, which was precisely what he wanted to avoid. Helping them have that conversation early—and plan accordingly—was as important as any portfolio review.
The Marathon Analogy
Retirement is a marathon, not a sprint. You don’t just wake up one morning and decide to run a marathon or sell your business. It takes planning, a shift in mindset, and support from experienced coaches.
Here are three key takeaways to start training for your retirement era:
Think ahead. Don’t wait until the time is near—start planning early. It’s never too early to start.
Build a better plan. Business owner retirement is complex. There are many options and paths to navigate to reach that end goal. This process is a 3-5 year project with many potential hurdles.
Surround yourself with experts. From financial strategists to emotional support, you need a team that’s been around the track before. Check out our ebook, Assembling the Ultimate Transition Team to get those needed experts in place.
Remember
True value doesn’t end with a transaction. Maximizing business value also includes maximizing personal readiness for what comes next.
As Jeff puts it, “If all you want are numbers, you can get those on a website. But if you want a rewarding life after business, you need a deeper plan.”
Retirement planning is not just about building wealth; it’s about preparing emotionally, mentally, and socially for the next chapter. Without a clear vision for what comes next, even the most lucrative retirement can leave owners feeling adrift and unfulfilled. Financial planning isn’t complete until it addresses purpose, identity, and long-term well-being.
Want to learn more about how leaders are navigating change?
Check out the entire conversation with Dave Casey and Jeff Sandene on the Maximize Business Value Podcast episode 232 here!
CONNECT WITH MASTERY PARTNERS TO LEARN MORE
ABOUT MASTERY PARTNERS:
Many businesses run well—but few are truly prepared for what’s next. Whether it’s growth, succession, or a future transition, getting your business ready takes intention and the right strategy.
That’s where Mastery Partners comes in. We work alongside business owners to strengthen operations, maximize value, and build a business that creates freedom and options—now and in the future. With decades of real-world experience, we guide you step-by-step to transform your business into an asset that works for you.
Build a business that’s valuable, scalable, and ready for whatever comes next. We’re the guide who helps you turn your business into a real asset.
ABOUT DAVE CASEY:
Dave Casey is a seasoned business owner with deep expertise in all aspects of organizational behavior, and a passion for helping entrepreneurs reap the full rewards of building their companies. He understands that a truly valuable business isn’t just profitable—it’s secure, scalable, and transferable. In addition to his work with Mastery Partners, Dave actively gives back to the entrepreneurial community through leadership roles with organizations like Business Navigators, Biz Owners Ed, and Liberty Ministry. Whether advising on strategic growth or mentoring the next generation of business leaders, Dave brings clarity, integrity, and decades of real-world experience to every interaction. His mission goes beyond exit planning—he’s committed to helping owners build lasting legacies.
ABOUT JEFF SANDENE:
Since 1996, Jeff Sandene has built trusted relationships with business owners, executives, and their families by helping them align their personal, business, and financial goals through comprehensive planning and disciplined investing. Known for his integrity and diligence, Jeff applies evidence-based investing principles and behavioral economics to create strategies grounded in facts—not emotions—with a strong emphasis on risk management. He believes a secure financial future requires discipline, hard work, and a long-term mindset—values he’s demonstrated by completing over 20 marathons, including four Boston Marathons. Jeff holds the Certified Financial Planner® (CFP®) designation, an MBA in Finance from The University of Texas at Dallas, and both the ChFC and CLU designations from The American College.
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