Ubiquity founder and CEO Chad Parks joined Tech Talk Tuesday to discuss the in discuss the intersection of technology, retirement planning, and small business. Host Ryan McQueeney, of Zacks Investment Research and Chad chat about the intersection of these ideas, focusing on the needs that still need to be met, the progress that has been made in recent years, and where small businesses should go from here.
Small businesses are slowly adopting “one-stop shop” platforms for saving, planning, record management, and accounting. These types of suites have been available to larger businesses in the past, but small business owners are just now starting to see software designed for them.
But there is still plenty of work to be done, Chad thinks. Companies like Square, Paychex, and Intuit are fantastic at what they do—yet these services still hold a relatively small share of their respective markets, as many owners still opt for a pen-and-pencil management.
There are also national considerations that affect small business owners just as they do our wider society. Huge generations are entering retirement age and life expectancy is high, stretching the resources of federal retirement programs to the brink. Chad argues that people need to shift their perspective on saving for retirement to account for this situation.
Luckily, there are plenty of new tools and resources that make this shift easier, and Ryan and Chad discuss several of them on today’s episode.
