Despite the benefits that self-employment offers, a recent study found that entrepreneurs and longtime business owners are running into difficulties when it comes to retirement savings. According to TD Ameritrade’s Self-Employment and Retirement survey, 40 percent are not saving regularly for retirement.
In a recent article for USA Today, I weighed in on why retirement savings for the self-employed is underutilized, the threats facing one who does not save, and what an advisor can do to help. “Most small-business owners aren't knowledgeable about retirement, because they focus on their business at the expense of everything else,” I offered. “For the first few years, it's nip and tuck. They are human resources, the accounting department, marketing department, and IT department.” Furthermore, the self-employed often invest all their profits directly back into their business as an alternative to a company retirement plan.
The following link will take you to the full article written by reporter Rodney Brooks –
“Self-employed face a retirement crisis”
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