How Can A Self Employed Person Save For Retirement?

  1. 712 POINTS
    John Cole
    Recruiter/Manager, Cole Insurance Investments, Charlotte N.C.
    Start a percentage of profit in a savings account this might take sometime but will pay off later in being self employed means you like the freedom that comes with it. Don't borrow money in most cases you are making enough money to run your business and live. So live below your means get help to evaluate where you are at you can get this help free most consultants or financial planners will get paid from the carrier not you. Dividend stocks and IUL life policies are good in this case and will help you earn tax free money later. I would invest in Land they are not making any more .Just say for example Hersey stock symbol (hsy) is a world dominator and has paid dividends as high as 7 dollars per share which a 10k dollar investment now could pay dividends of say 7-10k 15 years from now.
    Answered on July 20, 2014
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  2. 21750 POINTS
    Jim Winkler
    CEO/Owner, Winkler Financial Group, Houston, Texas
    That is an excellent question, and one we could spend all day discussing. To make it really simple, let's start with three things that you can do. First, decide what retirement looks like to you. What age would you like to retire, at what level of living, and where. Then, once you have that picture, look at where you are now in relation to being able to accomplish that retirement. Once you've got that snapshot, then you find an advisor that can help you get to that goal. There are a great number of investment options out there to choose from, they can help you find the ones that are right for you, and your goals. I appreciate you for asking! Thanks!
    Answered on July 23, 2014
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