Family businesses that manage to survive generation after generation leave not only a family legacy, but also the potential for tremendous wealth. For example, Walmart is presently the largest business in the world in terms of revenue, earning more than $500 billion in 2018. When the founder Sam Walton passed away in 1992, he left his retail empire in the hands of seven heirs.
According to an analysis by the Economic Policy Institute, the median working-age couple has only saved $5,000 for retirement, and 70% of couples have less than $50,000 saved. Considering retirement can last 30 years or more, having a solid savings plan is crucial to everyone’s well-being and long-term happiness – both yours and your employees.