Self-employed? The money stuff every business owner puts off (but shouldn’t)

ARTICLE
28 September 2026 dot 3 mins read

By Peter Leikas, Financial Planner

When you're flat-out running a business, it's easy for things like super, insurance, and retirement planning to take a back seat. However, putting these important financial decisions off for too long can make it harder to achieve your future goals.
 
The truth is, most self-employed Australians spend plenty of time looking after their business, but not nearly enough time looking after themselves. And that's a problem. Your business might be generating income today, but what happens if you're unable to work, ready to retire, or simply want to slow down?
 
Here’s a simple four-step checklist to help make sure all your hard work can create lasting financial security.
 
1. Protect the income machine
 
Most business owners insure their ute, their tools and their laptop, but forget to insure the one thing that generates all the income: themselves.
 
While insurance premiums can feel like another business expense, it’s worth considering how long your household could cope if illness or injury prevented you from working? For many self-employed people, the answer is “not long enough.”
 
Business expense cover, income protection, life insurance and other personal protection strategies can provide valuable financial support when life throws you a curveball.
 
2. Treat super like a non-negotiable bill
 
When you're focused on running a business, it's easy to put your own retirement savings on the backburner. But making regular super contributions can be one of the most effective ways to invest in your future financial wellbeing.
 
Rather than thinking of super as money you can’t access today, think of it as paying your future self for the lifestyle you want tomorrow. Small, consistent contributions can make a meaningful difference over time.
 
That’s because super benefits from the power of compounding, where the returns you earn can also generate returns, helping your savings grow steadily over the long term.
 
3. Have a retirement plan beyond your business
 
For many business owners, a significant amount of their wealth is invested back into their business. While investing in growth can create valuable opportunities, it's also important to build wealth outside your business.
 
Having a diversified approach to your finances can help reduce risk and provide greater flexibility in the future. This may include contributions to super, personal investments, savings, or other assets that support your long-term goals.
 
Your business can play an important role in your retirement plans, but it shouldn't be the only one. Building wealth across a range of assets can help create greater financial confidence for the years ahead.
 
Now, don't get me wrong, investing in your business can be a great decision. But if all your wealth is tied up in one asset, you're taking a risk.

4. Don't forget your legacy
 
You may have spent years building your business and creating wealth. Make sure you've given some thought to what happens next. Don't leave the final chapter to chance.
 
After all, financial planning isn't just about wealth. It's about making sure the people you love are looked after when they need it most.
 
Taking the next step
 
A simple conversation today could make a huge difference to future you. After all, many people start a business to create greater freedom, choice and flexibility, both now and in the years ahead.
 
By building your super, protecting your income and putting plans in place to safeguard your business, you can strengthen your financial resilience and feel more confident about the future.
 
If you're not sure where to start, a financial planner can help you understand your options, create a plan that suits your goals, and take the guesswork out of preparing for the years ahead.

Peter Leikas

I’ve been a financial planner for 7 years. My passion for financial planning comes from personal experience. When my father suffered a serious injury, he had no income protection, a mortgage and four sons to support. As a father of two, I'm passionate about helping individuals and families protect what matters most and plan their future with confidence.
Disclaimer:
Copyright © 2026 AIA Financial Services Pty Limited (ABN 68 008 540 252, AFSL 231109), trading as AIA Financial Wellbeing. All rights reserved. This information is current at the date of this publication and is subject to change. This provides general information only, without taking into account factors like the objectives, financial situations, needs or personal circumstances of any individual and is not intended to be financial, legal, tax, health, medical, nutritional or other advice. Before acting on the information in this publication, individuals should consider its appropriateness having regard to such factors.

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