A new Wells Fargo / Gallup survey of small business owners shows that 87% of small business owners don’t expect to quit working entirely when they retire, and the majority of those that do plan to fully retire aren’t financially prepared for it. Because of that, they’ll have to retire later than expected.

One of the more interesting points is that those not planning to quit working say they’ll only finally quit when health reasons force them to. Overall it seems to be less of an issue of not being able to plan for and afford retirement, but instead a passion for their work and  business, where they don’t want to let it go unless they know it’s going to continue beyond them.

Personally, I can relate to that. If I spend my life building a successful business, it’s going to be hard to pull me away from it (not to say I won’t cut back).

How do you feel about retiring from your small business? Are you looking forward to it? Are you prepared for it? Or do you see  yourself working until a ripe old age, leaving the business to a family member or someone else to take it over? What are your retirement hopes and plans?

Related posts:

1. Work Routines Can Benefit Home Business Owners
2. What Would it Cost to Make You Quit Your Business?
3. Inflation Number One Business Problem for Small Business Owners
4. Free Information on How to Write a Business Plan
5. Belairdirect – Insurance for Canadian Home Business Owners

This entry was posted on Tuesday, January 29th, 2008 at 6:28 pm and is filed under Management. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.