What Does A Business Owner Live off of During Retirement?

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Let’s think about what a business owner lives off of during retirement.

  • If you have a big business, you probably have started some kind of employer-sponsored retirement account for you and your employees (401(k), defined benefit plan, etc.)
  • If you are a sole proprietor, you may have established some kind of vehicle such as a SEP IRA.
  • You may have sold your business completely, cashed out, and invested the distribution.
  • You may have sold part of your business and retained a partial stake, continuing to receive some income.
  • You’ll likely be eligible for Social Security benefits

Social Security can be a very important part of this equation.

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