On the Coast Families / Feb Mar 24 edition

Page 10

SECURE YOUR FUTURE:

the crucial role of superannuation in your small business journey BY SIMON TARRANT, PRIVATE CLIENT ADVISER

In the hustle and bustle of running a small business in Australia, it’s easy for owners to get caught up in day–to–day operations and overlook critical aspects of their financial future. One such aspect that often takes a backseat is superannuation contributions and retirement planning. Ignoring these crucial elements can have profound implications for the financial wellbeing of small business owners in their golden years. THE PAIN OF NEGLECTING SUPERANNUATION 1. Insufficient Retirement Funds. Small business owners frequently invest heavily in their ventures, often at the expense of adequately funding their superannuation. As a result, they risk reaching retirement age with insufficient savings, leaving them financially vulnerable in their golden years.

KATE PERKINS Founder & leading Cancer Rehab Occupational Therapist (OT) & Lymphoedema Therapist

2. Dependency on Business Success: Relying solely on the success of your business as your retirement plan is a high–stakes gamble. Economic downturns, industry changes, or unforeseen circumstances can impact your business, potentially threatening your retirement funds. 3. Limited Investment Diversification: Neglecting superannuation means

Ignoring these crucial elements can have profound implications for the financial wellbeing of small business owners in their golden years

Leading Central Coast private practice, Cancer Rehabilitation & Lymphatic Solutions, developer of the unique OncoLaserTM system using MLS Laser, offer patients a premium and comprehensive allied health rehabilitation centre, providing high quality services to aid in quicker and more effective physical rehabilitation recovery from surgeries, cancer treatment, sports injuries and other conditions.

TM

02 4312 7033 / 5/30 Karalta Rd Erina NSW 2250 www.coastalrehabhub.com.au

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O N T H E C OA S T – FAM ILIES

coastalrehabhub


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On the Coast Families / Feb Mar 24 edition by On the Coast Publications ~ Families & Over 55 - Issuu