Succession planning on your list?

A big theme in client conversations over the last few weeks of the old year – and in the first weeks of the new one – has been succession and retirement planning.

And no, that doesn’t mean “I’m done farming next year.” or "I am selling my business this year".

The clients I’ve been talking to are all in very different places. Some are only just starting to think about it, others are well down the track and close to the end of the process. There’s no right or wrong stage to be at; all that is needed is talking and thinking about what you would like the outcome to be.

Once you are in your 30s, 40s and 50s, succession and retirement planning is really about options.

• Options for slowing down one day the way you want.
• Options for stepping back without stepping off a cliff financially.
• Options so the farm (or business) doesn’t have to be sold when your body or your mind says it’s had enough.

The biggest misconception I see is that this can be done later. But succession isn’t something you wrap up in a year or two – it’s a process that can take 10, 15, even 20 years to get right. The earlier you start planning, the more choices you create for yourself and your family.

You don’t need all the answers this year. You don’t need a perfect plan.
But 2026 is a great year to start putting it on your thinking and discussion list.

Have a few honest conversations with yourself, your partner and family. Look at what you actually need to live on long-term. Start understanding what your farm or business can realistically provide for retirement – and what it can’t.

Small steps now can make a huge difference later.