Business Wire search Local Sites Inq. But he started saving large amounts and investing much of that with professional money managers late in life. And by investing that money in the stock market, Castronovo has accumulated more than a quarter-million dollars in 10 short years. As a self-employed professional, Castronovo has more opportunity than most business owners to put away a lot of retirement money fast. But most owners can do more to get ready for retirement than simply putting money in their businesses.
Owners also can help employees save for retirement.
Start early and take full advantage of tax-saving retirement accounts. The government has structured it so that it's beneficial for anyone to put away money. The pretax dollars most often are invested in stocks, bonds, mutual funds or insurance products. And compounding quickly boosts the value of these investments. Most retirement plans require at least some professional help to set up or run.