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Don't Ignore Your Personal Finances

Business Savings with Qoins and Zikoba

Owning a business takes a ton of hard work and dedication, so it can be easy for small business owners to get so caught up in growing their brand that they neglect their personal finances. Many businesses offer their employees a 401(k), but if you’re an entrepreneur, it’s up to you to plan for your own retirement. Consider other options like a Roth IRA, which can be great for business owners who can contribute a maximum of 6k per year into these accounts. Many self-employed folks and small business owners should be concerned about their retirement savings to allow them to slow down later in life. But very few are saving for retirement--just 13% of those tax filers participate in a workplace retirement plan. Similarly, make sure you are saving money for your own personal rainy day fund rather than just pouring all of your money back into the business. You need an income too, you will have emergencies, down payments on a home, and more. Don't neglect all of your life events, you can put away even 10% a month and be in incredible shape.

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