Running a business is great, and for people with an entrepreneur spirit there is nothing they would rather do.
But do you want to have to run your business until you are 80+? Probably not!
As much as I love my job as an insurance broker, I don’t want to work forever. At some point I would like to retire and not respond to client emails and texts at all hours.
The problem is most business owners spend 24/7 running their business not planning for their future.
Put the nine million things you have to do for your business on hold and focus on the future for the next 5 minutes. Imagine after your years of hard work, they’ll be a big pile of money just waiting for you.
Sounds to good to be true?
Well it’s not the solution can be very simple, a small business 401K plan. 
To illustrate some of the challenges of setting up a plan I am going to share our journey.
It all started a few years ago when our CPA recommended we setup a retirement / 401K plan for our agency.
After he outlined the tax advantages, in addition to the long term financial security provided to the company employees we were sold. It seemed really simple, but when we called our bank, we realized it wasn’t so simple after all.
We got hit with all sorts of questions about plan types, Roth vs Traditional, Safe Harbor and a bunch of other financial mumbo jumbo.
To make a long story short, we called numerous banks and financial advisers to try and get things explained and a plan setup.
Most firms didn’t even bother to return our calls or emails for information. Those that did wanted exorbitant fees for our small company. After nearly six months of searching we were almost ready to give up.
However, I am very happy to say we didn’t give up, we finally talked to the right person at the right company. He made it very simple. By taking the time to clearly explain everything and working in conjunction with our CPA, they came up with the best plan for our company.
Being a small company, I believe the long term benefits of a company retirement plan to both the owners and employees are well worth the slight hassle. Regardless of the stage your company is at, if you don’t have a long term retirement plan in place you need to get that conversation started.
I can’t recommend enough that you contact Sean Bostwick, after a nearly 6 months search Sean had our company setup in just a few weeks after our first call.
