Ready for the "Next Chapter"

SELF ASSESSMENT

Legacy by Design, LLC

 If I Were to Step Away Today...

A quick self-assessment to rate your readiness to begin the next phase of your professional and personal life.

  • Evaluate your individual readiness.Assess the financial readiness (personal and operational). Measure the leadership readiness.
  • Assess the financial readiness (personal and operational).
  • Measure the leadership readiness.

Please enter the appropriate number in the right hand column.

-Agree

4 -Mostly Agree

3 -Neither Agree / Disagree

2 -Mostly Disagree

1 -Disagree


Interpreting Your Score:

85 – 100

This score may indicate a readiness to make solid plans for imminent retirement, with self-assurance that you are prepared operationally, financially, and emotionally. It may also point to over-confidence and/or over-eagerness to proceed with plans.  To avoid regrets down the road, it may be prudent to step back and take a second look.

70 – 84

This score reflects a healthy respect for the complexity of retirement planning, yet maintains a realistic concern that, with appropriate and thorough planning, an across-the-board positive outcome may be achieved. 

55 – 69

This score demonstrates humility and a realistic expectation regarding retirement readiness. With appropriate time and sufficient progress (including financial, leadership, and communication), the owner and operation may become more confidently positioned for retirement.

40 – 54 

This score indicates a need for the owner’s candid introspection, as well as open discussion among active family members regarding retirement intentions.   The next course of action should include family meetings to discuss goals related to succession for the owners, the family and the farm. 

< 39

This score points to multiple concerns; although it is never premature to begin planning for retirement, the operation, successor(s), and financial considerations may require more time before the current owner steps away. Additional assessments, personal counsel and specific plans of action may help to improve the outlook.

IRS Circular 230 Disclosure: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. tax advice contained in this communication (including attachments) was not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing, or recommending to another party any transaction or matter addressed herein.

Locations

California Office
Legacy by Design, LLC
at Ryan Wealth Management
463 Century Park Drive
Yuba City, CA 95991

Washington OFFICE
​Legacy by Design, LLC
at Ryan ​Wealth Management
1212 N. Washington Street, Suite 320
Spokane, WA 99201

Do You Need Answers to Your Succession Planning Questions?

Call Kevin Now(530) 671-2100

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