Joseph Edgeworth

Joe Edgeworth

Joe has been a financial planner since 1992, working with individuals, families and businesses. His company focuses on teaching people how they can invest their money safely, with a 100% guarantee of their principle, earn a very respectable rate of return, and have income guaranteed for their lifetime. Joe has also shown over 2,000 people how to protect their nest egg and their loved ones from the catastrophic cost of Long-Term Care, along with showing parents and grandparents how to safely and tax efficiently transfer their wealth to their children.

The Edgeworth Insurance Group

2715 Spring Valley Rd.

Lancaster, Pennsylvania 17601 (800) 824-8609
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Why should I plan if I don’t ever want to retire?

By Syndicated Columnists|

Many people, especially small business owners and entrepreneurs, say they never want to retire. That’s fine, but that doesn’t mean you shouldn’t plan for the future.”

Over 70% of Americans say they anticipate working even after they’ve retired. For this group of creative, energetic, and motivated individuals, the thought of tootling across North America in a motorhome or taking adult education classes is less than appealing. Their visions of the future often include starting a different business or trying out an entirely new line of work. A business owner is often emotionally connected to the company they’ve built and may have difficulty thinking of life without their “baby.”

Emotional attachment is why many business owners and entrepreneurs who enjoy their work become complacent about retirement planning, choosing not to save much for the future. However, even if you’re convinced you never want to retire, you are still wise to make saving for retirement a critical component of your life’s trajectory. Not only will having a retirement plan help you define your goals and expectations, but it will also open more choices, which in turn enhance the quality of your life.


A well-designed retirement and income plan may allow you to scale back your hours at work or devote more time and money to your favorite charity or cause. Planning well could mean you will have enough cash to pivot as your needs and desires change. If you employ others, giving them a retirement plan can increase retention and mean tax breaks for you as an employer.


Correctly structured and implemented retirement accounts can significantly lower your taxable income. Even if you think you never want to stop working, you could develop a “Tax-Savings Plan” to help you avoid paying more in taxes than necessary.

A good retirement blueprint is a lens to see your financial life moving forward efficiently. Working with a retirement and income specialist to create this roadmap has other advantages as well. A customized plan will let you see where your money is going, what expenses can be reduced or eliminated, and where there might be unanticipated future expenses. Future-focused financial planning can also help you deal with issues that can devastate your wealth, such as outliving your money, “sequencing” risk, and inevitable market downturns. It can also assist you if you cannot continue your present career due to unanticipated medical or economic issues.

“I’ll just sell my business when I am ready to quit.”

Many entrepreneurs and small business owners believe that they don’t need to save money because they will sell their businesses and retire on the proceeds. However, a little research uncovers the truth about the glut of companies on the market and the percentage selling is low. Business brokers report that fewer than 25% of small businesses listed eventually sell. Even those that do may have valuations significantly less than their owners expected.

Bottom line: Even if you don’t see traditional retirement in your future, planning still makes a lot of sense. Strategic planning helps you create a safety net that could protect you against economic upheaval and tax hikes. Planning will also provide a snapshot of your financial health and give you options and flexibility if you decide to leave the workplace.

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