By: Mary Gooderham | The Toronto Star I May 3, 2012
Read More, and see what Scott Plaskett says about entrepreneurs organizing their retirement plans.
When Beverley Simpson left her job as a nurse and started her own consulting business 20 years ago, retirement was already on her mind.
An organizational expert and a “planner by nature,” she developed her company, Beverley Simpson Associates, and started putting funds away to live on down the road, despite having three kids at home, aging parents to look after, and a mortgage. “I wanted to control things and not be controlled,” explains Simpson, who at 65 spends 30 per cent of her time working in her company, which helps hospitals and healthcare agencies with leadership development.
Simpson says the key to retirement for small-business owners is “planning and learning.” While investing in her own professional development and the business, she paid down debts, maxed out her RRSPs, incorporated to be able to set a cushion of funds aside for the future and made other investments like buying a cottage, where she and her husband Gord can enjoy their grandchildren…