Photo of Ray Ferrara CFP Ray Ferrara CFP Dec 08, 2021

If you’re a small-business owner, you likely make a ton of decisions each day. Perhaps you have thought a time or two on how you will one day retire. There is so much to consider. Can you retire at all? Do small-business owners just work for the rest of their lives as some do, pass the business to a child, sell to an employee or third party, or just close up shop? But for the here and now how do you save taxes and put away money into a retirement plan for those days after work is over? Yes, there is a lot to consider and understand, and a retirement plan consultant can help you navigate the waters and help you reach your goals. 

According to the U.S. Department of Labor, “starting a retirement savings plan can be easier than most business owners think. What’s more, there are many retirement programs that provide tax advantages to both employers and employees.” Here are some reasons you should consider working with a retirement plan consultant to help you prepare for life after work: 

  • Picking the right plan for you and your employees —How in the world do you go about picking the right retirement plan for your employees? It can be difficult to know exactly what you should choose. One thing to remember is that you cannot really over-plan, but you can under-plan. Working with a retirement plan consultant can help you make this decision. 
  • Automating the process to make your life easier —If operating a retirement plan on your own seems like a burden, you are not wrong. Working with your retirement plan consultant to automate your process can help ease the burden. Start by asking your payroll provider if they already have a process in place. 
  • Communicate clearly and effectively with your employees —You have selected a killer retirement plan for your business and its employees, now what? It is time to communicate this exciting development with your employees. Your retirement plan consultant should be able to offer you some resources to help you do this in a clear and effective manner. 

Talk to a ProVise CFP® professional about consulting on your retirement plan

At ProVise Management Group, our CERTIFIED FINANCIAL PLANNER™ professionals can get to know you and your current financial circumstances, goals, risk tolerance and personal values to help you develop a plan that works for you. We can also create a written plan for you at a fiduciary standard of care. All our written plans come with an unconditional money-back guarantee. If you are unhappy with your written plan, you can return it to us, and we will refund 100% of the fee paid.

Are you ready to talk to a professional about your retirement plan? Contact ProVise today to schedule a complimentary consultation.