For any small business owners planning for retirement, you need to be aware that this poses a few more challenges than you would believe. Funding your retirement as a business owner needs to be done off your own back. In some cases, having an independent financial adviser can help you to prepare sufficiently for retirement, whilst still allowing the business to move forward and to take the pressure off.
A lot of business owners assume that they don’t need a plan for retirement as their business will pay for it. However, it is important for small business owners to start planning as soon as possible to ensure that they’ve got what they need for the future.
Have a clear plan for your pension
The best way to get started is to make a plan for your retirement. How much money will you need each year to survive and from which age are you looking to retire? Talking to a local independent financial adviser in Leicester can be really helpful if you don’t know where to start. They can give you sound advice on the right solution for retirement planning that suits you best. It is suggested to invest around 15% of your salary. If that’s not an option right away, start small and work your way up.
Get started on your retirement plan
Getting started with retirement planning as soon as possible can help put you on to the right foot. Speaking to an adviser can help to find the right way for you to maximise your pension whilst also still being able to inject money back into your business. For more information, get in touch today and you’ll get a dedicated adviser that can help find the best solution for you and your retirement needs.