70 per cent of Canadian small business owners will retire within the next decade* and many will likely rely solely on the equity in their business to fund their retirement – unwittingly heading into the next phase of their lives financially unprepared.
WHY:
This lack of investment diversification could have a negative impact on an owner’s retirement plans if something happens to the business. Small business owners need to invest outside of their business and create an adequate retirement and succession plan sooner rather than later
WHO:
BMO Financial Group’s retirement planning experts are available to provide the clarity small business owners need to make the best decisions to plan for the future. They can discuss:
Personal investing vs. investing in a business – how to create a reliable nest egg
Why so many entrepreneurs neglect to plan for retirement
Tips for small business owners when it comes to investing and planning for retirement
Key hurdles small business owners face when managing personal finances
Advice for entrepreneurs who want to plan a graceful exit from the business
