Kingman – October 31, 2026 -- Assuming a company sale will fund retirement is the first and most critical planning mistake Arizona business owners make, according to Kingman financial expert Scott Preston, featured in a HelloNation article titled "Top 7 Retirement Planning Mistakes Business Owners Make in Arizona."
Sale proceeds depend on market conditions, buyer demand and seller health
Each of those factors can shift before a sale closes, and a plan built on a single transaction can fall short. The article recommends building personal savings early, separate from the business.
SEP IRAs and solo 401(k)s offer income outside the company
The feature points to SEP IRAs and solo 401(k)s as vehicles that let savings grow independently of company performance while carrying tax advantages.
Arizona owners face state and federal tax exposure on a sale
Income tax and capital gains taxes can arise when a company is sold. The article advises early consultation with tax and financial professionals to explore options such as spreading income over several years or setting up deferred compensation.
Succession planning requires years of preparation
Preston stresses that owners who wait too long put business continuity at risk. Naming potential successors, training the leadership team and defining roles early help maintain employee and customer confidence during a transition.
The article ties orderly ownership transfers to local economic stability in communities such as Kingman, where employees keep their positions and customers keep consistent service.
The feature also covers the personal side of retirement, urging owners to consider personal interests, volunteer work and future healthcare costs.