Let’s be real here. Planning for retirement as an entrepreneur who owns a small business in Canada can be hard! Actually, being candid, with the demise of most defined benefit pension plans amid corporate cost cutting, saving enough for retirement can be a challenge for most Canadians these days!

But there is no doubt that it’s a special challenge for those who own their own business!

For many, the early years when there is a long runway to retirement is also the time when the business is hoovering up money as investment is needed to get it off the ground and then to grow it to scale. Many entrepreneurs who I have worked with lament that in those start up years, they barely have enough funds for their current needs - forget about putting some away for the future.

And even those who have managed to contribute to their retirement plans, can find themselves in the position of having to draw the money out due to the cash flow needs of the business. (Everyone who is reading can ...