Are you a business owner?
If so, consider investments that can help you achieve the future you’ve envisioned.
For starters, think about investing in a retirement plan, such as an owner-only 401(k), a SEP IRA, or a SIMPLE IRA.
By contributing regularly to one of these accounts, you can avoid being entirely dependent on the sale of your business to pay for your retirement years.
You might also consider the pros and cons of investing in property.
If you can afford to own your own building, you could avoid unpredictable rent increases.
And it’s also important to invest in business interruption insurance to pay for your operating costs if you’re forced to shut down for a while.
At the same time, you may want to build an emergency savings fund to cover unexpected costs, such as a large medical bill or a major home repair.
Finally, you’ll want to invest in a business succession plan, as well as in a team of professionals who can help you make decisions in the best interest of your business and you.
Your business may well be a lifelong endeavor — so make sure you’re investing whatever it takes to earn a lifetime of benefits.
This article was written by Edward Jones for use by your local Edward Jones Financial Advisor John Dickerson. Member SIPC.
