News Releases
Are Small Business Owners Closing Up Shop on their Retirement?
BMO hosts seminars to show small business owners how they can maximize surplus cash and save for retirement
| WHAT: | According to the Canadian Federation of Independent Business, 70 per cent of Canadian small business owners will retire within the next decade. And with many of them primarily depending on the equity in their business to fund their retirement, they could be unwittingly heading into the next phase of their lives financially unprepared. |
| WHY: | By solely relying on their business equity, small business owners are doing themselves a disservice. Their lack of investment diversification could rob them of their retirement nest egg if something were to impact their business negatively. |
| WHO: | BMO Financial Group is hosting seminars across the country to show
small business owners how they can maximize surplus cash and ultimately
plan and save for retirement. The seminars cover options for owners
when it comes to surplus cash, including paying down debt, purchasing
fixed assets and investing. Contingency planning and the importance
of maintaining liquidity will also be discussed as well as short
and long-term planning to reach business and personal goals, such
as retirement.
BMO Financial Group's local business and financial planning experts are available to discuss:
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