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If you still haven’t been planning for retirement, there’s no better time to start than now. Maybe you're a spender and not a natural saver or maybe you're too much of a saver and don’t spend money when you should. Either way, this can cause issues down the road because there's a difference between spending, investing, and stewarding.
Whether you have a spending problem, you haven't been brought up to prioritize planning for retirement, or you lack education on all of this, you can always start now. Today, we're going to dive into the common retirement plans for small businesses. We hope to inspire you on what you can do right now and with exactly what you have to plan for retirement and save on taxes.
Before we get into the technical stuff, don't come with a mindset that you have to have a retirement plan because you're using it as a measuring stick of your worth. People have different sets of circumstances than you and they're prioritizing things differently than you at this point.
Retirement is the least of many people’s worries. Maybe there's a reason why this hasn't been part of what you've done up to this point. However, when it's the right time for you, it will be the right time for you, even as a business owner. The least you can do is to equip yourself with some knowledge right now so you can use it whenever you're ready.
Just listen to this episode with an open mind because even the smallest movement in this area will make a big impact on you down the road. It's never too early. No amount is too small. Start the process. And don't do it alone!
In this episode, you will hear:
- The trauma many people have with money
- Six common retirement plans for business owners
- Why you need partners and some key people involved
- Having a vision for retirement
Supporting Resources:
- 2021 Common Retirement Plans for Small BusinessTraction by Gino Wickman
- Top 50 Tax Deductions
- The Bottom Line® Newsletter
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Episode Credits
If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you.
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