Why you should invest as a small business owner
If you’re a small business owner, you’ve likely been challenged in certain ways since the start of the global pandemic. Unpredictable times like these highlight the importance of having a reliable personal financial plan.
That’s easier said than done though as you may experience other challenges trying to grow your investments. For example, you may be so busy with your business you can’t find time to focus on your personal finances. Also, you might be taking on so much risk in your business that you want more predictability in your personal investments.
Fortunately, an advisor can help you to build an investment strategy that works for you.
Retirement planning – Don’t put all your eggs in 1 basket
Your business is an important part of your life, but you shouldn’t expect it to cover your day-to-day bills and fund your retirement on its own.
When you face challenges with your business, or if your business failed, personal investments can help grow your money and provide a rainy day fund to sustain you during difficult times.
To help you keep the value of your business once you do decide to retire, it’s also important to have a succession plan.
Investment solutions for small business owners to consider
Concerned about finding the time or having the expertise to build a plan like this? An advisor can offer easy, efficient strategies, guide you every step of the way and develop a plan to help meet your financial goals.
Canada Life can provide investment solutions that align to your unique situation. Whether it’s segregated funds, mutual funds, retirement solutions or managed solutions, your investments and savings can help secure the future you want for you and your family.
If you’re experiencing risk fatigue from taking on significant business risk, you may want to think about personal investments that consider market volatility.
Canada Life Risk-Managed Portfolios help reduce the amount of time and worry spent on your investments. Our experts build diversified portfolios that balance insulation from risk with achieving growth and providing income.
In challenging times, small business owners are forced to dedicate more time to their business, but that doesn’t mean you have to ignore your personal finances.
Working with an advisor to build a personal financial plan can help take the stress out of investing. This way you can take comfort in the fact that while you’re working hard to keep your business protected, your personal finances are being navigated through changing markets and still helping you reach your goals.