Greg Mohr is a WSJ bestselling author and CEO of Franchise Maven.
After decades of solving complex problems, hitting performance targets and leading teams, high-achieving executives often begin eyeing the next chapter: retirement. But for many, the traditional model—shut it down at 65 and sail off into the sunset—doesn’t quite fit anymore. They’re not ready to stop contributing. They just want more control over how, when and where they work.
In lieu of a traditional retirement, some executives pursue business ownership for autonomy, income continuity and scalability without the same grind of corporate life. It’s not about trading one job for another. It’s about shifting from operator to owner and designing work around life instead of the other way around.
In my work as a business consultant, I regularly speak with accomplished executives approaching retirement age who have zero interest in actually retiring. They’ve spent 30-plus years building expertise and strategic capabilities, and they’re not ready to shelve all of that. What they want is optionality: the ability to stay engaged on their terms, build continuing income streams and leverage their business acumen without the politics and constraints of corporate life. For many, business ownership becomes that bridge between full-throttle executive life and complete retirement.
The Old Model Of Retirement
Retirement used to mean a clean break. One day you’re working; the next, you’re not. But for many professionals, that’s not just unrealistic; it’s unappealing.
Data also shows a shift in how people view retirement today. One survey of 1,000 Americans found that 51% of respondents “who’ve reached the standard retirement age plan to work indefinitely.” Meanwhile, research from the Pew Research Center shows that the percentage of Americans working past age 65 has nearly doubled since the late 1980s, rising from about 11% in 1987 to 19% today.
There are a number of reasons retirement-age workers don’t stop working, but among many executives, I find their goal is often to shift gears. Many I’ve worked with want more time freedom, location flexibility, autonomy and income security than a 401(k) alone can guarantee.
Semi-Absentee Ownership: What Executives Must Evaluate
Many franchise and established business models offer a proven system, built-in brand recognition, defined playbooks for operations and scaling, and potential for recurring revenue with light oversight. This can be a good fit for professionals who want to manage a business without working in it. Instead of starting from scratch, executives can apply their strategic mindset and financial acumen toward building a cash-flowing asset that works with their lifestyle, not against it.
However, business ownership is not a shortcut to riches. It’s a structured path that still requires diligence. There are a few key questions any executive should ask:
• Is this model aligned with my lifestyle goals and strengths?
• What’s the time-to-break-even and expected ramp-up?
• How involved will I be in staffing and local marketing?
• Does the business offer real support—or just a logo and a manual?
• Are there existing owners I can talk to about their real experiences?
Executives also need to prepare for a few hurdles. One challenge I see executives face is the mindset shift itself. After decades of being hands-on problem-solvers, stepping into a more strategic ownership role can feel uncomfortable. You’re not solving daily operational issues—you’re building systems and hiring people to do that. Some executives also underestimate the importance of local market engagement in the early stages. You may not be working 40 hours a week, but you can’t be completely absent either, especially during the critical first year.
Understanding The Impact On Retirement Benefits
Here’s something many executives don’t consider: Business ownership can significantly impact Social Security benefits and Medicare premiums.
Your Social Security benefit is calculated based on your 35 highest-earning years of income subject to Social Security taxes. Make sure you understand how the structure of your business and your salary could affect your future Social Security benefits. You’ll want to ensure the math works in your favor.
The bigger surprise often comes with Medicare. If you’re above a certain taxable income threshold, you could face surcharges known as the “income-related monthly adjustment amount,” or IRMAA.
Working with a knowledgeable CPA and financial advisor is important to ensure you’re structuring things in a way that maximizes your tax savings while funding robust retirement accounts to compensate for any reduction in Social Security benefits. The key is understanding these implications before you invest, not after.
A New Way To Look At Retirement
If you’re an executive who still has energy to lead but wants more control over your calendar, you don’t have to choose between work and retirement. There can be a middle path—one where you step out of the corporate machine but still build, still earn and still create impact on your own terms.
Business ownership isn’t for everyone. But for the right executive, it’s not just an investment. It’s a new chapter of freedom, fulfillment and financial independence.
The information provided here is not investment, tax, or financial advice. You should consult with a licensed professional for advice concerning your specific situation.
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