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Retirement Planning for Small Business Owners
Today's episode can be summed up in 1 acronym. For small business owners, when it comes to retirement it's YOYO - You're On Your Own.
You don't have some magical "free money" match to your 401k from an employer - you're the employer. You're even paying BOTH the employee and the employer sides of Social Security and Medicare. And even worse than those 2 things is that it's hard to find someone to be on your side and help you develop a personal and business "retirement" plan without charging you an arm and a leg even when they don't take the time to understand your business and personal goals and needs.
It's frustrating, I get it... but it's still important to ask, "What's my exit plan?" And if the past decade has taught us anything, it's taught us we can't plan on selling our businesses. How many mom-n-pop hardware schools closed instead of selling because of the big box and online retailers selling hardware? How many of our generation are able to buy businesses even if we wanted to?
But there is a better way. There's a way to embrace YOYO and take control to secure your future... and don't worry, it's not going to mean your business grows too slowly or that you have to scrimp and save.
---
To connect with the community, visit fifemovement.com.
If my gift has helped you, please pay the gift forward by sharing this content with a friend.
My gratitude in advance.
---
Our generation needs to create a unique path to Financial Independence. The FIFE Movement explores and promotes an entrepreneurial and feminine approach to freedom for us and for the entire world.
Wealth is coming our way… lets prepare to use it well!
---
Follow up link to find out more now: https://www.bankonyourself.com/findoutmorenow?wp_src=AN79 or go to findoutmorenow.com and enter code AN79.
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By Amanda Neely
5
11 ratings
Today's episode can be summed up in 1 acronym. For small business owners, when it comes to retirement it's YOYO - You're On Your Own.
You don't have some magical "free money" match to your 401k from an employer - you're the employer. You're even paying BOTH the employee and the employer sides of Social Security and Medicare. And even worse than those 2 things is that it's hard to find someone to be on your side and help you develop a personal and business "retirement" plan without charging you an arm and a leg even when they don't take the time to understand your business and personal goals and needs.
It's frustrating, I get it... but it's still important to ask, "What's my exit plan?" And if the past decade has taught us anything, it's taught us we can't plan on selling our businesses. How many mom-n-pop hardware schools closed instead of selling because of the big box and online retailers selling hardware? How many of our generation are able to buy businesses even if we wanted to?
But there is a better way. There's a way to embrace YOYO and take control to secure your future... and don't worry, it's not going to mean your business grows too slowly or that you have to scrimp and save.
---
To connect with the community, visit fifemovement.com.
If my gift has helped you, please pay the gift forward by sharing this content with a friend.
My gratitude in advance.
---
Our generation needs to create a unique path to Financial Independence. The FIFE Movement explores and promotes an entrepreneurial and feminine approach to freedom for us and for the entire world.
Wealth is coming our way… lets prepare to use it well!
---
Follow up link to find out more now: https://www.bankonyourself.com/findoutmorenow?wp_src=AN79 or go to findoutmorenow.com and enter code AN79.