Fremont: “When a man retires, his wife gets twice the husband but only half the income.” Are you willing to bestow this to your spouse? Entrepreneurs are never willing to retire from their work. Even if they want to, the startup adrenaline never let them do so. Being an entrepreneur means enjoying becoming you own boss and running your own businesses. However, have you ever thought of what will happen after retirement?

Small business owners often find themselves torn between investing in their business and saving for the future. Although it is tempting to invest in the business, it is also crucial for them to have personal retirement savings as well as they cannot rely solely upon the future value of their business to provide for their retirement.

Unlike employees of large companies, who can simply participate in their pension plans and investment programs offered by the employers, entrepreneurs must set up and administer their own plans for themselves. Retirement planning is a topic of interest not only for older small business owners, but to young entrepreneurs as well. The availability for the social security for the young entrepreneurs adds legitimacy to the need for early retirement planning.

However, some young entrepreneurs have a different notion. “Entrepreneurs job is to create value and no one can measure it. The vision is to transform the market and the world for a better living. And I am looking forward to do it till the last breadth of my life,” says Akshay Kingar, Co-Founder, Mpigeon, a company that delivers relevant information to users by using technology. Akshay is just 24 years old and believes that an entrepreneur who have full confidence on himself will never think of retiring.

For many entrepreneurs retirement is something to be worried down the lane. Today they have got enough on their plate- managing their business can easily occupy every spare moment they have got. “Instead of investing on retirement plans, I did better will invest in my business. I do not make any plan B handy, so I know that I need to put my soul and blood in my plan A for survival. And this will help me build a future that will be much secure,” adds Akshay.

However, it is important to realize about the retirement at an early stage and set aside some savings for retirement. It will also help them to create opportunities for themselves whether or not they actually retire on schedule. “I think entrepreneurs should start worrying about their future after they are 40 and they do not find enough balance in their bank account. Before that it is the time to create success and enjoy it,” says Sriram V Iyer, CEO, United Mobile Apps, a mobile/broadband/wireless technology company that focuses on connection management/device management and data synchronization software.

“A failed entrepreneur is of much more value than an experienced employee. I would like to cite an example of one of my friend, who failed in his venture, but today he is in an executive level in an MNC. He was preferred over other experienced employees as he had the experience to take risk and work under pressure,” adds Sriram. He feels that when it comes to just a job, an entrepreneur should never worry. He will get one that will fulfill his basic needs. All tricks lies in managing the startup or the established company and taking it forward effectively.

Failing to adequately save for retirement has long been a common error among small business owners. Unfortunately, the recession has exacerbated it. Whether you are in the startup stage or in rapid expansion, it is all too tempting to tell oneself that the money you are putting into the business is building your future. This is quite risky. Might be the business is doing great, but relying on it as your retirement fund is a perilous business. Better said, “Don’t simply retire from something; have something to retire to.”