I am not that old yet and also not depending 100% on my business yet but its seems life is short and many things to do. One important thought being a business man I think to save for my older age and when I get retired. In my point of view as I think today business owner never get retired, might be its not true for every one.
This story I found very interesting to think about retirement age even it a long way to go for me. What is about you take a look below.
Planning for retirement isn’t simple for anyone, but business owners need to take extra care that their financial futures are secure. Check out these tips from NerdWallet focused on the interests of business owners.
A picture illustration shows a $100 bill laying on $1 bills. Business owners may feel financially sound while the money is coming in, but they still need to take care to plan for the future in retirement.
It takes dedication, determination and smarts to create a successful business. Like all working people, business owners also need to think about the future. When they will stop working or cut back to devote more time to family and other pursuits? What is the exit strategy?
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Many business owners assume that the effort spent building their business will simply be transformed into a retirement solution by selling it when the time comes. They will be set for life. The truth is that many stars must align to realize this dream.
Business owners are uniquely vulnerable to misconceptions and assumptions about retirement, which can get in the way of a secure financial future. Here are just a few of them.
1. If I execute my business plan, my retirement plan will be taken care of.
This is an understandable assumption, particularly during the early years when we put heart, soul and capital into our baby. The intention is to create sufficient value in the business now so that it will fund the retirement plan later. But, what exactly is that plan?