Ep 75: Saving for Retirement as a Business Owner

A lot of small business owners put so much into their business plan and into their business, that sometimes they overlook themselves. One of their biggest assets and efforts is their business itself, but what about retirement? On today’s episode of the podcast, Phil and Marc talk about the kinds of decisions business owners face, sharing personal experiences and advice for business owners trying to save for retirement.

 

Read more and get additional planning resources here: https://philstaxhacks.com/podcast/ep-75-saving-for-retirement-as-a-business-owner/ 

 

Watch the video podcast: https://youtu.be/oE6gLViu1sE   

 

What we discuss on this episode: 

0:37 - What should business owners know about retirement?

1:03 - Is a good business plan enough?   

2:25 - Are you paying yourself first?

3:59 - Your Social Security may be lower.

5:19 - Are you planning to sell your business as your retirement plan?

9:00 - What do business owners need to consider from a tax standpoint?

10:57 - There are a lot of little things to being a small business owner.