News Releases

RSP Interview Opportunity Like Many Canadians, Small Business Owners Are Heading Into Retirement Unprepared

WHAT:	According to the Canadian Federation of Independent Business, seven in 10 small business owners are expected to retire within the next decade, yet many of them don't have an adequate retirement plan in place. Like all Canadians, small business owners must plan ahead to ensure they can achieve their version of retirement when the time comes.
WHY:	One of the most common mistakes small business owners make when planning for retirement is putting all of their eggs into one basket. For example, small business owners tend to invest all their profit directly back into their businesses instead of diversifying some of these funds by placing them into an investment portfolio. This lack of investment diversification could rob small business owners of their retirement nest egg if something were to negatively impact their business.
WHO:	BMO Financial Group's national and local retirement planning experts are available to discuss the following: Planning for the new realities of retirement. Retirement is no longer triggered by age or characterized by rounds of golf – where should small business owners start to ensure they can enjoy their version of retirement? Key hurdles small business owners face when managing personal finances Is relying on the sale of the family business enough to fund retirement? Tips for small business owners when it comes to investing and planning for retirement Personal investing vs. investing in a business – how to make the most of your investments

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