Let’s talk retirement!
According to a 2016 BMO Wealth Management survey of small business owners, 75% of survey respondents had saved less than $100k for retirement. This, often, is not as much as people hoped they would save. Sometimes, business owners plan to sell their businesses to make money for retirement. However, this is a difficult decision after building your own business up. Often, retiring isn’t as easy as it sounds, and you can click on the link to find out how to replicate that and whether selling your business is the responsible choice in later years.
Of course, there is some wise folk out there that have been saving for their retirement since their first job, and that is ideal! By putting aside small amounts from a young age, the money won’t really be missed and the money builds over time, leaving a healthy pot of savings for retirement. Some prefer to save later on in life and this is often coupled with using an Online Broker to invest money in things like stocks, shares and forex. Investing is a great way to create a second income and be able to put money aside without feeling a strain on a monthly paycheck. If this sounds like something you would like to do, then you might want to start researching the best forex broker to use.
Not sure where to start with planning for your retirement? Try visiting the IRS?s website for info on plan options for small businesses. Another great resource is the SCORE Association. They have free online resources available anytime, anywhere, including this webinar on protecting your money and your future as a small business owner.
Already started on retirement but need some help with how to invest and grow your savings? You can find more info online to help you go through the process and get the resources and knowledge needed before you go ahead and try to help yourself get started. You can also visit the library’s website to research investment options on Standard & Poor’s Global NetAdvantage and Value Line.
The library also has free downloadable magazines and eBooks that you can access on your computer or mobile device. Flipster and Zinio have magazines like The Economist, Forbes, Kiplingers Personal Finance, Money Magazine, and Bloomberg. Finance related eBooks are available via Axis360.
Need a library card to access the library?s free resources? Email me and I?ll set you up with one.
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