In the United States today, more than 30% of the workforce is currently made up of self-employed individuals.1 This number is expected to increase rapidly in the future as more and more people gravitate towards more independence and flexibility in their career model.
But what about retirement savings for these individuals? In the corporate world, many large employers or organizations offer and sponsor some type of an employee retirement savings plan, such as a 401(k). From the employee perspective, it’s very easy to enroll and start setting aside money for retirement. Self-employed individuals lack the benefit and luxury of this infrastructure, and they’re instead left to do it on their own.