Aging small-business owners unprepared for retirement: survey

The majority of [Canadian] small-business owners don’t have a detailed retirement plan in place despite little interest in expanding their business, according to recent study conducted on behalf of Toronto-based Canadian Imperial Bank of Commerce. In fact, 78% of aging business owners haven’t prepared any sort of formal plan to prepare for an upcoming retirement or in the event of an unexpected emergency, the report says.

 

Sourced through Scoop.it from: www.investmentexecutive.com

What happens in Canada doesn’t stay there. This Toronto bank-sponsored report is quite accurate for small U.S. businesses, as well. EGS stands ready to help, beginning with a complementary consultation.