December 11 2017
Business owners spend so much time focusing on the growth of their companies that they often neglect to save for retirement until it's too late.
According to a 2016 BMO Wealth Management survey of 400 small business owners, 75% of owners between 18 and 64 have saved less than $100,000 for retirement. Even more alarming is that of owners between 45 and 64, a staggering 68% have saved less than $100k.
May 2 2015
The retirement age has been on a steady rise since the 90s. Back when Gallup first started polling the retirement age (in 1991) the age was 57. However, that has since changed to an average retirement age of 62 years, meanwhile current non-retired Americans are EXPECTING to retire at age 66.
What does this mean? Being fiscally responsible and planning ahead is even more important now than it has ever been before. I'm sure that the Great Recession has shown you that the economy can drop from an all-time high to an all-time low at the drop of a hat.