Home Advertise Contact Blog Advertiser Login RSS
Newsletter Signup

Your Free Business Opportunity Resource Is Easy To Use
Home-Based Businesses
Choosing a Business Opportunity Growth and Profit Marketing and Sales
Plans and Goals Running Your Own Business Start-Up
Working From Home Entrepreneur Exchange Feature Articles
Opportunity Community Opportunity Focus In The News

Improve Customer Engagement - The days of endless customer tickets are finally over, all thanks to the advancements in technology and innovations from clever software developers.

Improve Customer Engagement - Instead of being constantly overwhelmed by countless...

Free Lead Generation is a hot topic these days since many pay a pretty penny per portal to generate leads to increase ROI.

Free Lead Generation is part of any markets platform.  It is important to note that this November was 'nutty' for lack of a better word.  The purpose of this blog post...

Small Business Media and tapping into that vein can be a tricky and somewhat slippery slope unless you know some tricks of the trade.  Getting your message in front of the right audience is often the key to success.  So, where are the keys to the kingdom you ask and how can you get your hands on...


Sponsors

STARSCAPES®
Imagine making up to $500 to $1,800 a day! Call or click now see how you can get your business for FREE! (602) 679-0257
Wealthpaths by Helo
HELO is changing the game in wearable fitness devices. Get your own HELO, show it off and make money referring others.
How Many Leads Does It Take To Close A Sale?
This Featured Article is live on our blog and I know could be very insightful for connectivity and ROI.
Entrepreneurs Feeling Cooped Up This Winter?
Entrepreneurs, Mompreneurs, Daughterpreneurs, Dadpreneurs, Sonpreneurs, in many cases, working-from-home... Read on
Low Cost Business Opportunities to Own
Are your right for a Low Cost Business Opportunities to Own? The desire to own your own business... Read On
Top 50 Home-Based Business Ideas
Home-Based Business ownership can be the most rewarding endeavor you will ever undertake. The new year... Read On
It Takes a Hot Voicemail to Land a Warm Lead
If you're a successful entrepreneur who provides others like you the chance to follow in your footsteps... Read On
How Many Leads Does It Take To Close A Sale?
This Article is now live on our blog and I know could be very insightful for many. Read On
The Ideal Length of Everything Online, Including Social Media Posts
When one of your busiest marketing channels limits you to 140 characters, you know that the internet sets its own rules.
Green Businesses Make Good Sense
Shoppers worldwide are concerned about climate change and environmental dangers. That’s why the demand... Read on
Why Advertise Your Business Opportunity?
Over the years we have been fortunate enough to receive quite a few testimonials. In fact, ... read on
 
Resource Center > Article
Small Business Owners, Are You Prepared to Retire?
5 Apr 12 Posted by: Kathleen C Lanza
in Plans & Goals
Share this Article:

It’s tax time again, time to take a cold hard look at what you make, what you owe and what you need to be doing to save for the future. The trouble is that retirement planning for far too many home-based and other small business, business opportunity or franchise owners in particular just isn’t a priority, especially when times are tough.

According to one of the most recent studies on this subject by The American College, the nation’s largest non-profit educational institution devoted to financial services, while the vast majority of small business owners are concerned about retirement, millions of them are wholly unprepared for it. Moreover, an alarming number of them are not even sure what they would even need in order to consider retirement as an option down the road.

“The lack of retirement planning by so many people is stunning, especially since business owners have no one else to rely on when it comes to putting retirement plans in place,” said Mary Quist-Newins, Director of the State Farm Center for Women and Financial Services at The American College, in a recent statement. “When you consider that the mean age of our respondents is just over 50 you have to wonder, ‘What are these individuals waiting for?’ Retirement will be upon them before they know it. Small business owners need to start preparing…now.”

So why haven’t more small business owners developed a concrete retirement plan? The reasons are many and varied. A number of them cite the recent economic downturn as the culprit in that survival has trumped anything that can be put off for another day. Some say that the business itself will provide for their needs over time, when they sell it or it starts to create residual income, but that can be a very risky strategy. Planning for the future is downright overwhelming and far too complicated for thousands more of them still, so much so that avoidance is far too easy. Lastly, many small business owners just can’t envision themselves idle, and they don’t ever want to be, so they assume their health will hold out such that they never have to stop working. Admirable for sure, but it’s just not realistic.

Even if it’s a distaste for the traditional retirement paradigm―idly lazing around spending your days doing everything you want or nothing at all―that’s holding a small business owner back from planning for the future, perhaps today’s new one will inspire. And it is this: Retirement today is not so much about working or not working, it’s about having options. It’s about achieving a level of security such that whether or not you work is your choice and not a necessity.

So if having options in the future appeals to you, when and how do you get started?

Regarding “when,” the answer is now, and you need to know that it’s never too late. As for “how,” it starts with the basics, and here they are:

Accept the idea of retiring. We live, on average, longer than ever before. We must accept the fact that many of us will get to a point where working is not preferable or even possible, so we might as well get used to the idea and start planning for the inevitable.

Take your head out of the sand! The vast majority of Americans are not saving nearly enough to sustain them in old age. Experts estimate that the average individual will need approximately 70% of his or her current annual income if he or she is not working and wants to maintain their current lifestyle. As is true in business, knowing the exact goal you are trying to reach is half the battle. So take stock of your own situation, crunch the numbers, get real and make a plan.

Develop a plan. If you’re smart, you didn’t launch your own business without a plan, so why should you launch the rest of your life without one? Sit down and take the idea of planning for retirement every bit as seriously as you do making payroll or a deadline. Your whole future deserves nothing less.

Educate yourself. There are all kinds of tax rules that are designed to benefit self-employed individuals and small business owners who may have a small number of employees. If you don’t know the ins and outs of an Individual 401K, SEP IRA, Simple IRA or a Defined Benefit Plan, you should. The reliable online resources available to you in learning about all of these options and more are many.

Ask an expert. If you need one, do not hesitate to find a good financial planner who can educate you, get you on track and assure you that by taking the simplest of steps today one at a time you will have choices tomorrow.

Keep up with new developments. Small business owners should be aware of pending legislation that may affect their ability to save for the future. Initiatives proposed just this past month in the U.S. Congress could have a very real positive impact on this issue. Designed specifically to encourage small business owners in their efforts to save for retirement, the new guidelines would allow them to pool their resources and assets together into multiple employer retirement plans. These plans would then be monitored and administered by experienced financial professionals. This approach would take much of the guesswork and complexity out of the planning process and automate it for self-employed business people and their employees in much the same way larger companies are able to do for theirs.

For more information on The American College study findings, go to “Small Business Owners Are Unprepared for Retirement” now.

To get started on your own retirement planning as a small business owner, the IRS’ Retirement Plans Navigator is a great place to start!

Related Blog Posts
22 Nov 16 Posted by: Kevin James Culp
in Plans & Goals

Free Lead Generation is a hot topic these days since many pay a pretty penny per portal to generate leads to increase ROI.

Free Lead Generation is part of any markets platform.  It is important to note that this November was 'nutty' for lack of a better word.  The purpose of this blog post...
12 Feb 15 Posted by: Kevin James Culp
in Plans & Goals
DID YOU KNOW THAT WE ARE OPPORTUNITY SALES, MARKETING & LEAD GENERATION SPECIALISTS? MAKE A FRESH SALES START!  Before you spend...
21 Nov 13 Posted by: Kathleen C Lanza
in Plans & Goals
Win! Win big! It’s a mantra that strikes at the core of what comprises most if not all “entrepreneur DNA,” and it’s especially top of mind in the run up to this year’s Super Bowl on February 2 in MetLife Stadium as four small businesses are battling it out in the make-or-break competition of a lifetime! In...
14 Nov 13 Posted by: Kathleen C Lanza
in Plans & Goals
With the 2014 tax return season coming to a rapid close and if you’re a small business owner in particular, finding ways to reduce your income tax rates is always a great goal. While it might sound counterintuitive, one of the best things you can do, as the old saying goes, is “spend money to save money.” Why?...
24 Oct 13 Posted by: Kathleen C Lanza
in Plans & Goals
Results from the newly released Deluxe Annual Holiday Shopping Survey™ show that 35 percent of consumers plan to shop local and small this year, compared to just 27 percent last year. And hey, a full third of the more than $600 billion that is estimated to be spent this year is quite a chunk of change! Could...
 
   

SocialXpand Business Opportunity Interview w/ Brian Weiss was for me a new way to learn from a customer and whom I consider a friend in the industry.

I've had the opportunity to work for a while now with Brian Weiss who is the Director of Sales for the
Video Spotlight
You're invited to view a Bartercard Online Franchise Presentation.

Premium Sponsor