Supply chain issues and inflation are affecting business owners’ bottom lines – and their retirement accounts.
Inflation topped the list of concerns for business owners, according to a TD Wealth survey of more than 700 business owners with $100,000 in investible assets and more than one employee. Economic uncertainty followed closely behind in the second spot.
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These fears are propelling some entrepreneurs to change their retirement plans. Almost two-thirds of the survey respondents said they tweaked their retirement plans in the last year, with nearly one third of them saying they changed their asset allocation, another three in 10 saying they postponed retirement and the same percentage of people saying they lowered contributions toward their retirement savings.
The concerns aren’t far-fetched. Inflation hit a 40-year high last year and supply chain…