Two out of five small business owners have this problem — do you?
One of the most common mistakes small business owners make is not planning for their retirement early enough.Business owners have additional liability with their business, and research shows close to 40% of entrepreneurs have an average insurance gap of nearly $1.4 million.Just like business advisors can help you grow your business, experienced financial and tax advisors can help you better prepare for retirement.
Retirement planning is an important step for any small business owner. It can be easy to make costly mistakes, but with the right plan in place, you can secure a comfortable retirement. Small businesses are the backbone of our economy, accounting for 62% of net new job creation since 1995. Small businesses created 12.7 million net new jobs, while large businesses created 7.9 million in the past 25 years.