Are You Going To Retire Like Jay Z? Probably Not.

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Bill Gates and Jay Z, originally uploaded by niallkennedy.

Right now, you have a successful small business and it is new and young, just like you. However in thirty years or forty years you may want to retire. I mean really retire, and not make guest appearances on people’s albums or Powerpoint presentations.:) Maybe you have yet to give it any thought, but a lot of older small business owners seek to retire comfortably by simply selling their business. Many business owners are so sure this will happen that they don’t bother to make any other retirement plans. That is a short-sighted exit strategy. If you don’t have anyone interested in buying your business when you are ready to retire, then you’re stuck. It is better to start now to sock away money for retirement. Put your money into a SEP IRA. A SEP IRA is a self-employed retirement account for small businesses and entrepreneurs. Here’s a link to several options for a tax-free retirement investments. Consult a financial planner to find the best option for you.

 

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