Retirement Planning for Business Owners in Florida

April 21, 2026

As a business owner in Florida, your business is likely your biggest asset but it shouldn't be your only retirement plan. Many entrepreneurs pour everything back into the business and wake up at 55 with very little set aside outside of it.

Depending on your business structure, you may qualify for a SEP IRA, Solo 401(k), or SIMPLE IRA. These accounts allow you to shelter significant income from federal taxes while building wealth for the future. A SEP IRA allows contributions of up to 25% of compensation, a massive advantage for high-earning self-employed individuals.

One of the most common mistakes business owners make is assuming they will fund retirement by selling the business. That is a plan with serious risk. Valuations fluctuate, buyers fall through, and market conditions change. Your retirement plan should be able to stand on its own regardless of what happens with the business.

Florida business owners benefit from no state income tax, which means more of your retirement income stays in your pocket. Combined with the right withdrawal strategy from tax-advantaged accounts, this can extend your retirement runway significantly.

Working with a fiduciary financial advisor who understands both business planning and personal finance is critical for business owners. Your business decisions and your personal financial plan are deeply connected and need to be managed together.

At Tempus Wealth Management, Kevin Dziubela works with business owners across South Florida to build retirement strategies that go beyond the business and create lasting financial independence.

This content is for educational purposes only and does not constitute financial, tax, or legal advice. Please consult a qualified professional before making financial decisions.