It is one thing to want to become a successful entrepreneur and quite another when you are one. Owning a business means that you will have to balance your earnings and expenses so that you can make a profit with the money your company makes. Considering that making more money is one of the reasons you started your company in the first place, you want to make sure that your business will be able to provide you with a sufficient income until the day you die.
But how much should you be investing in it? If you were to depend on one source of income to provide for your family, would that be wise?
In this video, tax expert Mark J. Kohler says that you should never consider your business as your retirement plan, and he has some pretty good reasons why.
Listen to what Kohler has to say about retirement planning as a small business owner in this great video from Entrepreneur, and let me know what you think in the comments section below!