A recent survey conducted by Harris Interactive for ShareBuilder found that 47% of small business owners were not confident that they are adequately prepared for their retirement. Part of successful retirement planning includes your own retirement needs, but as a responsible business owner you’ll need to consider the fate of your hard-working employees after you leave as well. Building business success with a retirement plan is a logical step.

Social security and pension plans should be the baseboard for your retirement planning, but you’ll have to think more creatively to continue making money once you’ve left your business. Many owners, while simultaneously building business, choose real estate investment properties or further their stock and mutual fund investments.

In addition to expanding your business, you should be retirement planning and considering an exit or succession strategy. Recruiting the services of a financial planner can be an invaluable asset.

For many retirees, 31% of their business retirement plan will come from the sale of their business. An additional 28% will come from a registered government savings plan, such as an IRA or 401k, and 25% from stock market investments. The smallest income will be the 16% from social security or pension funds.

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This entry was posted on Tuesday, October 2nd, 2007 at 8:39 pm and is filed under Financial Services. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.