As you guys may know, this blog and the tentacles of opportunities that have come from it are my job, my career and my future. Thus, my kids benefit from it being successful and growing. And right now, every penny goes to supporting my kids.
On the flip side, I need to benefit it from it in the future. When it is long gone but the success of it is still needed to support me. So, lately, I have been wondering: Can I own my own small business and still plan for retirement?
My goal is to retire when everyone else does at 65. So I have 25 years and no current retirement funds to fall back on when the time comes. So, lately, as I have been trying to get my single life in order, I have been curious about the types of Retirement Plans there are for me and how to save with them.
Lucky for me, a great source of information for retirement questions, calculators and more are available from Genworth Financial. So, as I research, I started there!
I’ve learned that the first thing I have to do is sit down and really set up a plan and complete a living worksheet. I need to see what my expenses are, my earnings and my flexibility to save a certain amount. I need to know how much I might need come that time to live comfortable. It is a hard thing to think about but it has to be done and if I want to reach my goals, I’d better start sooner than later.
I took some time to read an article, Tips for Planning Your Retirement as well and really learned a lot. Like saving as much as I can as early as you can, hence my desire to get this going ASAP! And once I do get it started, not investing too heavily in one asset or another, despite the fact that real growth is happening in one area or another.
Regardless of what I do, I have to do something. I have to have a retirement account, an IRA or some other asset that I can put into monthly that will grow for my years to come!
What kind of retirement plan do you have if you are a small business owner? I’d love to hear how you are planning too!
Information for this post is sourced from Genworth Financial in partnership with the SheHeard Influencer Network.” All writings and opinions are my own. Please see my Disclosure Statement for more information.