Most entrepreneurs are so focused on building their businesses that they neglect one critical question: What happens when you want to stop working? Retirement planning isn’t just for employees—it’s essential for business owners, too.

Unlike salaried professionals, entrepreneurs don’t always have access to employer-sponsored retirement plans. That’s why personal responsibility and early planning are key.

Start by calculating how much you’ll need to live comfortably in retirement. Factor in:

• Living expenses
• Healthcare costs
• Travel or lifestyle upgrades
• Inflation over 20–30 years

Next, explore retirement plan options tailored to entrepreneurs:

• SEP IRA – Simplified for self-employed individuals, with high contribution limits
• Solo 401(k) – Ideal for sole proprietors or family-run businesses
• Defined benefit plans – Great for high-income earners seeking large tax-deferred contributions
• Investment accounts – Brokerage accounts or real estate can complement tax-deferred plans

Don’t forget about your business itself as a retirement asset. Whether you plan to sell, pass it on, or generate passive income from it, you’ll need an exit strategy. This includes valuation, succession planning, and tax-efficient transfer of ownership.

Consulting with a financial advisor helps align your business income, investment portfolio, and retirement goals into one cohesive strategy.

Planning for retirement isn’t about “stopping”—it’s about giving yourself options and freedom later in life. And the best time to start is now.