{"id":6673,"date":"2017-12-10T07:55:01","date_gmt":"2017-12-10T11:55:01","guid":{"rendered":"https:\/\/kerryhannon.com\/?p=6673"},"modified":"2017-12-10T07:55:01","modified_gmt":"2017-12-10T11:55:01","slug":"smart-ways-entrepreneurs-can-save-for-retirement","status":"publish","type":"post","link":"https:\/\/kerryhannon.com\/?p=6673","title":{"rendered":"Smart Ways Entrepreneurs Can Save for Retirement"},"content":{"rendered":"
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\"\"<\/a>One of the toughest things to do when you\u2019re a woman running your own business is to save for retirement. Even 15+ years in as a solo entrepreneur, I wrestle each year at tax time to let go of the maximum amount my accountant determines I can sock away for what could be 20 or more years. For women small business owners with employees the issue is even thornier.<\/span><\/div>\n<\/div>\n
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As a small-business employer \u2014 whether you have one person working for you or 100 \u2014 now you\u2019re talking about not only your own retirement, but\u00a0theirs<\/em>. As I say in my new book,\u00a0Great Jobs for Everyone 50 +, Finding Work That Keeps You Happy and Healthy\u2026and Pays the Bills<\/em><\/a>, when you\u2019re a boss, it\u2019s essential not to neglect retirement savings, and I\u2019ll provide a few suggestions on how to do it shortly.<\/p>\n

The Puzzle of Retirement Plans for Entrepreneurs<\/h3>\n

But let\u2019s face it: offering your workers a retirement plan or even funding one for yourself can be a puzzle.<\/p>\n

The roadblocks small business owners face offering retirement plans \u2014 and possible solutions for them \u2014 was the theme of a recent\u00a0panel<\/a>\u00a0I watched via webcast,\u00a0Bridging the Retirement Divide: Reaching Small Business Owners and Workers<\/em>. Convened by\u00a0The Aspen Institute<\/a>\u00a0and co-sponsored by the Bipartisan Policy Center and The Pew Charitable Trusts, the enlightening discussion brought together noted experts from the public and private sector. (You can watch the video below.)<\/p>\n

The statistics the panelists presented were painful to hear.<\/p>\n

Less than 30 percent of employees in a small business with fewer than 100 employees have access to a workplace retirement account, said James B. Lockhart III, co-chairman of the Bipartisan Policy Center\u2019s Commission on Retirement Security and Personal Savings and a former deputy commissioner of the Social Security Administration.<\/p>\n

And small businesses are more likely to offer paid time off (86 percent) and health care plans (61 percent) than sponsor a retirement plan, said panelist John Scott, who directs the Retirement Savings Project at The Pew Charitable Trusts.<\/p>\n

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