Retirement Preparation Of The Nonfarm Self-Employed

Abstract

Despite growth in the numbers of self-employed workers, there is little research on the retirementplanning behavior of this group. The purpose of this study was to identify characteristics of self-employed workers and determine factors that lead to increased savings for retirement. Findings froma survey mailed to a convenience sample indicated the largest amounts of annual savings were in stocksand business equity and the smallest amounts were in Keogh plans. Self-employed workers tended tohave larger total retirement savings if they were older, had higher income levels, and had conductedsome retirement planning activities.