The Dreaded ‘R’ Word: Retirement

Like many Americans, small business owners are too busy making ends meet to even think about retirement—and most aren’t able to sock much away. In fact, a recent Manta online poll found that small business owners’ biggest retirement fear is not having enough savings.

Let’s be honest. Creating a detailed financial retirement plan—hopefully with a professional—must be in your future, but you may not be ready. And truthfully, you can’t invest if you aren’t squirreling something away.

Reality check:

• There’s always something to cut. Dig deep. Just the budget review process itself will be enlightening. (Think about all those expensive coffees.)
• Stop saying that the miniscule amount you might be able to put away won’t make a difference. Focus on being consistent. Over time, small amounts will add up.

The work until you die plan just isn’t feasible. Start with tangible steps toward saving—and investing when you’re ready. And take your employees along for the ride. Even if you can’t offer investment options, access to education will be appreciated.

Source: http://www.manta.com/resources/tip-of-the-day/the-dreaded-r-word-retirement/?su=hq344mgu9vl41l&utm_medium=Email_Marketing&utm_source=Newsletter&utm_campaign=TOTD&utm_content=TOTD_ReDesign_LM_Test&utm_term=16003