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Business Retirement Plans in a Pandemic

October 14, 2020

The COVID-19 virus has had a major impact on our lives and how we deal with this new economy. As a small business owner you may be feeling the effects of this virus even more so than individuals who do not own a business.  As a business owner you are responsible for continuing a flow of income through the sale of your product and services, as well as possibly having to pay employees for the time when business may be down. But, you still need to plan for you and your employees future retirement.

As an investor you may have seen an investment market which took its low dip on March 23rd and since that time has rebounded in a way that no one anticipated.

If you had previously set up retirement plans such as SIMPLE or 401(k) plans, and,  these accounts would have taken a drop in March and have seen increases since then. You may not be aware that there are investment programs from large insurance companies that permit you to participate in the gains of the investment marketplace, but, they also guarantee certain results, such as guaranteed annual gains, as well as guaranteeing a future lifetime income regardless of the value of the investment account when you decide to retire.

For those business owners who have not started a SIMPLE or 401(k) type plan, and with the market still being lower than it was at its all-time highs, there are still buying opportunities to purchase investments which can also have the same types of income and growth guarantees as indicated above and also allow a substantial benefit.

The virus, as horrific as it has and can continue to be, does not have to necessarily have a negative effect on your money and your investments. If you are in a position to continue business as usual, this might be the perfect time to start planning for your future.

Contact us today for more information (772) 567-1188