Hello, your business is not a retirement plan

You need a portfolio of investments for a fruitful life in retirement. FILE PHOTO | NMG

Are you a successful entrepreneur and your business is booming? Though it may be tempting to invest all your profits back into the business, it is advisable and wise to put some aside for retirement.

The benefits of diversification apply to everyone. Unless carefully managed, the very traits that make you a winning business person — innovation, risk-taking, optimism — can be a recipe for retirement disaster. We need to know that the key to long-term investment success is a diversified portfolio.

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Note: The results are not exact but very close to the actual.