SmallBusinessNewz

Retirement planning just doesn't seem to be feasible for many small business owners. Nearly half just don't think they will have the money.

David Utter recently cited a Wells Fargo/Gallup survey that showed that nine out of ten business owners intend to keep working. With only 47% planning to even cut back on their workload.

A recent study has shown that many small business owners are not applying the financial skills they use in their businesses to their own personal finances - namely, retirement plans.

The study from KeyBank and fielded by Zogby International found that out of 976 business owners surveyed, 67 percent think that there is a possibility they could run out of money while they are still alive.

"There's conflicted confidence in what small business owners say they are doing and what they actually are doing. Consequently there's real concern about how financially prepared they are for retirement," said Marc Vosen, president of Key Investment Services. "While they know what it takes to be in control, many have a laissez-faire attitude when it comes to managing their money."

Vosen provided a 4-step approach for business owners to better manage their personal finances, which you can see here.

If this is a concern for you, I'd also like to suggest browsing the financial section of our Small Business Directory for resources, particularly the retirement section.

How do you feel about the issue? Is your plan in check?