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Retirement Income Cornerstone Guide

Retirement Planning for Business Owners

Business owners face unique retirement questions — from succession to turning years of reinvestment into personal income.

Updated June 8, 2026 9 min readRetirement Income
Original infographic in development: Retirement Planning for Business Owners

Business owners often pour everything back into the company, which can leave personal retirement planning behind. Your business may be your biggest asset — and your biggest planning challenge.

This guide covers retirement plan options, succession, and converting business value into personal income.

Retirement plans for the self-employed

An overview of SEP IRAs, SIMPLE IRAs, solo 401(k)s, and more.

Planning your exit and succession

Selling, transferring, or winding down — and the income implications of each.

Turning business value into income

Converting a sale or buyout into a dependable personal paycheck.

Diversifying beyond the business

Why building income outside the company reduces risk.

This guide is for general educational purposes only and is not financial, tax, or legal advice. Tim Hartle is an independent insurance professional. Annuity guarantees are subject to the claims-paying ability of the issuing insurance company and are not FDIC insured. Rules and product features vary by situation and by state. Please consult a qualified advisor about your own circumstances.

Frequently Asked

What retirement plans work best for business owners?

It depends on your income and whether you have employees. SEP IRAs, SIMPLE IRAs, and solo 401(k)s are common options worth comparing.

How do I turn my business into retirement income?

A sale, buyout, or succession plan can be structured to create income. Planning ahead helps you avoid a tax-heavy lump sum.

Should my retirement depend on selling my business?

Relying entirely on a future sale is risky. Building savings and income outside the business adds important security.

Apply This to Your Own Plan

Schedule your complimentary, no-pressure Retirement Income Review with Tim. Call (727) 692-5866 or book below.

Annuities are insurance contracts. Guarantees, including guaranteed lifetime income benefits where available, are subject to the claims-paying ability of the issuing insurance company. Product features, fees, withdrawal restrictions, and surrender charges vary by contract.