Small businesses and entrepreneurs need to consider what’s going to happen after they retire. A problem with entrepreneurs is that we’re all so focused on the present and the business that we forget – ourselves. Planning for retirement is harder for entrepreneurs because of the irregularity in our incomes in comparison to salary earners.
Retirement has changed a lot in recent years, and may be far different from what you expect. You might spend two or more decades in retirement, and you will be responsible for paying your bills and setting up a fulfilling lifestyle. Here are ten truths about today's retirement:
1. This is not your father's retirement. The days ...
We’re faced with a host of thorny retirement issues: Keep Social Security solvent. Make Medicare affordable. Many Americans aren’t saving enough. They want to retire earlier than they can reasonably afford. They’re effectively financially illiterate.