Parents who are small business owners are more optimistic about their children’s future than parents overall – with 77% reporting that they believe that their children will have a better standard of living than they do, compared to 67% of all American parents who say the same.
That optimism continues with 61 percent thinking positively about the financial expectations of their business in 2018 with 46 percent reporting that tax policy is a positive for their business this coming year.
Thinking longer term, small business owners are counting on their business to provide for them in retirement with 42 percent reporting that their business is their retirement plan and more planning to get their children involved in the business.
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These are the findings from an Ipsos poll conducted December 6 - 11, 2017 on behalf of the New York Life. For the survey, a sample of 1,002 parents (ages 18 and over) from the continental U.S., Alaska and Hawaii was interviewed online, in English. To qualify for the survey, respondents had to be the parent/guardian of at least one child under the age of 18 that is currently living in their household. The precision of Ipsos online polls is measured using a credibility interval. In this case, the poll has a credibility interval of ±3.5 percentage points for all respondents surveyed.