In the News

US / 40% of the self-employed are not saving regularly for retirement, and 28% are not saving at all survey finds

Many of us have dreams of leaving the 9-to-5 grind and working for ourselves. And since the 2008 financial crisis, many have done it — even if some didn’t really have a choice.

But many of these budding entrepreneurs, and even the people who have owned their businesses for years, are part of a growing problem: They aren’t saving for retirement.

TD Ameritrade’s Self-Employment and Retirement Survey found that 40% of the self-employed are not saving regularly for retirement, and 28% are not saving at all. The problem plagued all age groups: 29% of Generation X and 32% of Generation Y who were self-employed are not saving for retirement.

Also, 83% of self-employed who said they are saving for retirement said that at some point they needed to stop or cut back on their savings due to various obstacles.

“I think it’s a huge problem,” says Michael Piershale, president of Piershale Financial Group in Crystal Lake, Ill. Most small-business owners aren’t knowledgeable about retirement, because they focus on their business at the expense of everything else, he says. “For the first few years, it’s nip and tuck. They are human resources, the accounting department, marketing department, IT department.”

Chosen excerpts by Job Market Monitor. Read the whole story at 

USA Today

via Self-employed face a retirement crisis.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Jobs – Offres d’emploi – US & Canada (Eng. & Fr.)

The Most Popular Job Search Tools

Even More Objectives Statements to customize

Cover Letters – Tools, Tips and Free Cover Letter Templates for Microsoft Office

Follow Job Market Monitor on WordPress.com

Enter your email address to follow this blog and receive notifications of new posts by email.

Follow Job Market Monitor via Twitter

Categories

Archives

%d bloggers like this: