Many contractors worry about their financial welfare in retirement. This is of particular concern to many small- and medium-sized sheet metal works contractors who don’t have much in the way of a pension plan or retirement savings.
There is one solution that is often overlooked and doesn’t require you to make ongoing savings and that is to own your own building. Instead of paying monthly rent, money is going to pay down the mortgage with the intent of owning a building debt-free on retirement. With a little foresight, you can make this happen.