Small Business Owners Should Start Now to Prepare for Retirement

| posted in Blog

Small business owners are great at providing jobs, but in the aggregate, most are failing when it comes to preparing for a comfortable retirement for themselves and their spouses. First, most of them are reinvesting almost everything into their businesses. According to a survey from the Bank of Montreal, 58% of business owners take out less than $25,000 per year to pay themselves, and more than three-quarters say they take out less than $50,000. Only 8% of business owners reported being able to take out more than $100,000 over the past year. Meanwhile, multiples in many industries are down, and…
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