When I asked a group of local working moms, many who are self-employed, about their money and financial planning questions, the very first question was around saving for retirement:
When I left my corporate position to become self-employed, I sacrificed contributing to a [company-sponsored] 401(k). I know I could pursue a self-employed 401(k), but I have no idea how that works. I don’t get matching now and it makes me wonder if it’s even worth it. My husband is saving to his. Do I need to resume, too? So, my question would be – do you recommend any options? Is there a bare minimum someone should save?
by Cathy Derus