Timothy Sumer

This is part four of five taken from the full episode of Right on the Money featuring the series, Small Business is the Backbone of the American Economy. Sub Headline: Over Valuation Is the Number-One Mistake if Your Business Is Your Retirement Plan Synopsis: It’s not uncommon for a small business owner to view the sale of their business as their retirement plan. They throw all their energies and profits into the business to bolster the valuation, so it’s not unusual they don’t have a 401(k) or IRA. That’s fine, if you can sell your business near its projected valuation. But most small business owners overvalue their sale price and often take less than anticipated. That’s why it’s important to create and maintain a personal retirement plan that isn’t dependent on the sale price of the business. Content: There are several cable shows that deal with small businesses and entrepreneurs. One of the most popular programs is “Shark Tank.” After viewing several episodes, one thin

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