The Importance of Saving for Retirement as a Small Business Owner
May 11, 2015
The Importance of Saving for Retirement as a Small Business Owner By: Angie Chapman — Partner & Investment Advisor, Integrity Capital Management
A 2013 American Express survey revealed that 60% of small business owners were not saving the money they need for retirement. Why? Well, they are running their businesses and saving money isn’t always a top priority. And many believe and hope that the business itself will be their retirement fund. But getting liquidity out of a business isn’t nearly as easy as it sounds so you can’t put all of your eggs in that basket.
If you own your own business you need to be saving for your own retirement beyond your business investment. Three things to think about: 1 – There is no such thing as a retirement “loan”. Beyond Social Security, no one is going to give you money during your retirement years. It’s up to you to prepare. 2 – It’s never too late to start. 3 – There are numerous options to help you put aside money specifically for your retirement whether you are a sole proprietor or have employees.
Join us for “How To Save for Retirement As a Small Business Owner" on Tuesday, May 12, from 4 to 5 p.m. at the Kingsport Chamber. Please pre-register for this free training athttp://bit.ly/sbor512