Small-biz owners don't save enough for retirement: CNBC/FPA poll

Comment:  This is the primary reason small business owners should speak to a business broker about the value of their business long before they decide to sell.  Just as you receive monthly statements from your bank, you need to know how much your business is worth and what kind of revenue and owner benefit numbers will give you the price/funds you need to retire.

America's small-business owners are wealth builders, driving GDP and job growth. But when it comes to their personal finances, they get low marks in asset diversification and retirement planning. That's because the vast majority of their invested wealth is tied up in their businesses, a tactic that is shortchanging their personal financial futures. These findings were revealed in the first CNBC/FPA Small Business and Financial Planning Survey, released today.

The survey, conducted in conjunction with the Financial Planning Association, sampled 178 financial advisors nationwide that service small-business clients ages 35 to 70.

A whopping 70 percent of small-business owners' wealth is invested in their business, and only 30 percent outside their firms, according to the survey. Assets they are investing in are stocks (89 percent), real estate (64 percent), bonds (63 percent), commodities (19 percent) and other sectors.

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For additional information regarding Florida business sales, acquisitions and valuations, please contact Eric J. Gall at info@buysellflbiz.com or 239.738.6227. Also, visit our Florida Business Exchange website at www.fbxbrokers.com and my personal website at www.buysellflbiz.com.