Ignoring retirement planning can present substantial risks for entrepreneurs who lack access to conventional retirement benefits. In 2023, a significant portion of U.S. workers, 47%, did not have a workplace retirement plan, including many gig workers. While traditional plans automate contributions and offer employer matches for employees, entrepreneurs face the challenge of planning their own retirement savings without these advantages. Taking control of retirement is crucial for ensuring long-term sustainability and legacy as a business owner.
When you're hustling to build a business, you probably aren't thinking about retirement. Ignoring retirement as a business owner can present unique challenges.
In 2023, 47% of U.S. workers over 18 lacked a workplace retirement plan. The number of those without access rises to 82.4 million when including gig workers.
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