Compound Planning | How to pick the right retirement plan for your business
When you own your own business, you’re in charge of every financial decision. This includes your own financial future — like planning for retirement. Unlike traditional employees who might have access to a 401(k), you’re responsible for managing your own retirement plan.
Many business owners rely on funding their retirement with the proceeds from selling their business. While selling your business may provide a substantial nest egg, it’s crucial to consider other strategies to ensure a successful retirement, especially if those plans change. Establishing a retirement plan not only offers a financial safety net, but can provide tax advantages that can help you save money during high-earning years.
