You’ve worked hard to build your own business, and you love the perk of being your own boss. But going solo does come with one big challenge: It can be tough to save enough for retirement.
When you work for a company, you often have access to a 401(k) plan in which you can automatically deposit money for your retirement. It’s not as simple when you’re self-employed. When you’re working for yourself, you need to develop a retirement plan and stick to it. Otherwise, you may face a long, stressful retirement, worried you won’t have enough money to pay for the lifestyle you want.
Here are some tips for building a retirement nest egg even when you’re self-employed.