The traditional retirement planner does not always understand the strategies necessary when planning retirement for entrepreneurs. This often leaves many entrepreneurs in the dark when it comes to planning for retirement.
How do entrepreneurs retire? Below are some tips to strategize your retirement finances as an entrepreneur.
Choose a Financial Advisor Familiar with Issues Unique to Entrepreneurs
When researching who to consult, especially with something as important as your retirement fund, it is important that you seek the advice of someone knowledgeable about entrepreneurs.
Argent Bridge Advisors works with entrepreneurs and understands the needs of business owners and entrepreneurs.
Structure Your Business Properly
In order to protect yourself from taxes and liability issues the way that you structure your business matters. You may want to consult an accountant about the benefits of an S-Corp to add an extra layer of protection against liability and can save you money on the back end.
Speak with a business accountant to be sure that you aren’t paying for more taxes than you owe. Often times, the average investment company may not understand that entrepreneurs have many more opportunities for deductions than the average W2 professional.
Plan Your Liquid Money Wisely
When you take the time to set aside a certain amount of your income in cash you are preparing yourself for capital investment opportunities that often surface for entrepreneurs.
Additionally, having cash available can often be what saves an entrepreneur if a business is ever to hit hard times.
Know Your Credit Score
Did you know that your business has a credit score separate from your individual score?
It is important that you monitor your score regularly in order to set yourself up for instances where you may want to acquire a business loan or line of credit.
Secondly, the top three business bureaus for business are not the same as they are for personal credit reports.
Be sure to run your reports through Equifax, Experian and Dun & Bradstreet when monitoring your score.
How to Entrepreneurs Retire? Contact Us
When it comes to protecting your retirement fund as an entrepreneur you must seek the services of an investment company and advisor who understands your needs.
Argent Bridge Advisors is here to help answer your questions.
Contact Argent Bridge Advisors today to see how we can help you plan for retirement.