That is not a position you want to be in.
Imagine negotiating the sale of your business, and trying to get the best price, if you absolutely have to sell to fund your retirement?
Selling a small business is hard. Don’t make it harder than it has to be.
“10 million small-business owners plan to sell or close their businesses over the next 10 years as a means to fund retirement in their golden years”
Spend some time, and some money, making sure you’re putting something away now.
“A survey of SBOs, conducted by BMO Wealth Management, showed 75 percent had less than $100,000 saved for retirement.”
CPA Practice Article
Make a sale more likely, and less critical by doing some prep work.