Media Advisory/Interview Opportunity-BMO: Small Business Owners Selling Themselves Short To Fund Retirement
- More than half of Canadian small business owners plan to fund their retirement through the sale of their business - Almost 50% face the choice of either investing in their business or contributing to an RRSP - BMO's Tina Di Vito: "Business owners need to ensure they don't put retirement planning on the backburner"
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 10/20/11 -- According to a study by BMO Financial Group, the majority of small business owners are planning to fund their retirement through the sale of their business and often face challenges when saving for retirement. The study found that:
"Canadian business owners should avoid relying solely on the sale of their business to fund their retirement," said Tina Di Vito, Head, BMO Retirement Institute and author of a new book on retirement planning, 52 Ways to Wreck Your Retirement... and How to Rescue It. "The value of your business can fluctuate significantly over the years, so it's important to have personal retirement savings, such as an RRSP, as well."
Ms Di Vito also notes that, as business owners focus on growing and maintaining their businesses, their own retirement planning is often put on the back burner. "Business owners know the value of having a business plan. Unfortunately, many underestimate the importance of having a personal financial plan that includes their retirement goals."
BMO's Tina Di Vito offers small business owners advice on how to effectively save for retirement:
The survey was completed by telephone between Tuesday, February 1st, and Friday, February 25th, 2011, with a sample of 507 small business owners/operators in Canada.
Contacts:
To arrange an interview with Tina Di Vito, please contact:
Amanda Robinson, Toronto
416-867-3996
Sarah Bensadoun, Montreal
514-877-8224
Laurie Grant, Vancouver
604-665-7596
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Datum: 20.10.2011 - 07:00 Uhr
Sprache: Deutsch
News-ID 1048119
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