Retirement can loom like a dark cloud for small-business owners. Many invest blood, sweat and tears — and every penny — into building their business but never set cash aside for the future.
A huge number of entrepreneurs have reported putting aside no retirement savings at all. For some, selling the business is their only retirement plan.
That’s a risky bet, says Keith Hall, president and chief executive officer of the National Association for the Self-Employed.
“You’re putting all of your eggs in one basket. Not just your current lifestyle, but your future,” Hall says. “If something goes wrong, you sacrifice both.”
Read more in NerdWallet: