Do you have enough money saved up for retirement?
Mark Johnson, EA
Helping Home Care Agency owners get financial clarity and peace of mind knowing that their accounting and taxes are in good hands, while Maximizing Profits and Reducing Taxes.
According to The NY Times, you should have a well-padded cushion of savings by age 50 if you want to retire comfortably.
This is how it should look:
By age 50, have five times your annual salary saved. ( $100K income = $500K savings)
By age 55, have six times your annual salary saved. ( $100K income = $600K savings)
By age 60, have seven times your annual salary saved. ( $100K income = $700K savings)
The Times also reports that less than 13% of Americans have a pension plan.
How does your situation look? Are you on track to retire comfortably?
If not, no need to panic.
We can guide you in getting there.
If a business owner who is currently 50 years old starts putting away $2,700 every month until he retires at 67. He/She would have amassed $1,245,344 by the time they retire (using average S&P rate).
Now you might be asking where will I get the money from to save? Well, most of the business owners that we do tax planning for were overpaying an average of $28,679 in taxes yearly.
This amount could easily be used to fund your retirement plan.
You might be overpaying taxes. Secure your retirement.
Let us give you a FREE business and tax assessment TODAY.