Small business owners focus most of their energies on starting, running, and growing their businesses. Some do not plan to retire, but others assume that at some point they will retire … and, of course, they will die. Unfortunately, according to a study, nearly 40 percent of owners don’t have a retirement income strategy; they assume the proceeds from the sale of their business will provide them with financial security. This is so even though only half of all businesses have had any appraisal within the past three years. Assumptions and lack of action can undermine a secure retirement or cost heirs dearly. There are important things to do before you retire. Below are some actions to take – now. 1. Get […]
