Ep. 93 Saving for Retirement as an Entrepreneur with Helen Ngo
“As your business and the revenue you’re generating grows, you start changing your mindset from, “I’m hungry I need to get clients” to “How can I build a business in such a way that it can feed into [where you need it to be] to step back from your business and draw income.” - Helen Ngo
Tune into this episode to hear financial planner Helen Ngo talk all about saving for retirement as an entrepreneur, a subject that business owners need to eventually prioritize.
But let’s be real, saving for retirement isn’t as realistic in the beginning of growing a business, when priorities are making a living and paying bills. However, a few years in when you're able to start saving for your future, many business owners get stumped on what that even looks like.
Helen Ngo, CEO and founder of Capital Benchmark Partners has over a decade of experience in investment management and running her own financial planning firm. She has unlocked the key to financial freedom that most people get wrong. She’s an expert in personal finance and helping women create more wealth for themselves.
In this episode, Helen walks us through how to prepare for retirement through these 3 main steps:
Assess your cash flow and personal budget to project how much you actually need to save for retirement
Evaluate your current tax situation and determine what type of retirement plan you need to implement
Consider your current cash flow and potential investments to determine what can actually be put aside for retirement
As a business owner retirement looks totally different than working in a corporate 9-5 job where you have a 401k set up for you. In entrepreneurship, you’re responsible for setting up your retirement! Have you considered this step? If not, I know you’ll love this episode and tips from Helen!
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