Risks Business Owners Face When Preparing for Retirement

As a business owner, preparing for your retirement requires a strategic approach to financial planning. Without the assistance of a financial planner, business owners may have difficulty when planning for their golden years.

Planning for retirement without a financial planner by your side is a challenging feat! Are you a business owner that's currently or about to start planning for retirement? If you are, we've listed a few of the significant risks you may face when getting ready for your retirement.

Want a financial planner to help you avoid some of these risks? Click here to fill out our form to have an advisor help you today!

Inflation Risk

Though inflation has generally remained constant, there are instances when it will rise. A high inflation rate or a sudden increase in that rate can effect your retirement fund altogether. One way to deal with this risk is to review your investment strategy.

Longevity Risk

Does your retirement fund support you until 55? 65? 75? Longevity risk is the risk a retiree suffers when they live longer than what their retirement fund can sustain them. One of the best way to counter this risk is to plan as if you are expecting to live to extremely old age.

Does your retirement fund account for longevity and inflation risks? Find out here: Contact an advisor today

Health Risk

Every retiree must be aware that financial planning and wealth management for retirement must include preparing for high health costs that come with old age.

Does your retirement fund account for health and event risks? Find out here: Contact an advisor today

Policy Risk

Government policies and tax regulations can also impact your retirement fund. Consider diversifying to help defend any retiree from local, national and international policy updates and tax regulations.

Does your retirement fund account for policy risks? Find out here: Contact an advisor today

There is no such thing as preparing too early for your retirement. As a business owner you must run your business and prepare for retirement simultaneously. Are you a business owner without financial planning assistance? Does your retirement fund account for all of these risks? Let the Piedmont Group help you answer these questions and more! Contact us today and receive assistance with your first steps to retirement planning from a licensed Piedmont Group professional.

To learn more information about our FREE Business Valuation service, follow this link Business Valuation* and a licensed Piedmont Group professional will reach out!