Plan your long-term financial security
Advance planning significantly increases your chances of guaranteeing your long-term financial security. If you are building your own business, it is essential to have a clear idea of how the venture is going to provide for your future financial security.
The state pension will not fund a comfortable retirement, and you cannot assume that selling your business (or downsizing your home) will look after you for the rest of your life. You need to get a clear picture of what your financial objectives are and how you will achieve them.
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