The 2020 Mid-Year Economic Update_long

Setting a Retirement Date

It's not easy to grasp the idea of a retirement date, says Evergreen Consulting's Brent Grover in the MDM Audio Conference, Succession Planning: Leaving Your Business Better."This is very long-range planning,"he says.

Grover went through the same thing in 1982. At that time, he was working in the family's distribution business founded by his grandfather. The second generation needed to set a retirement date.

Grover compared the situation to a Patek Philippe watch ad: "Their advertisement says that you never actually own one, you merely look after it for the next generation."

Some companies operate that way, and "live"to pass the company on to the next generation. "I was fortunate that I came from a family that did plan,"Grover says.

To continue reading this article you must be a paid subscriber.

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.


articles left

This is your last free article

Subscribe to MDM Premium today and get:

  • Unlimited access to
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events


articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events



You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.