S. A., Sharpe, D. L., Kratzer, C. Y. & Su, Y. (1998). Retirement preparation
of the nonfarm self-employed. Financial Counseling and Planning,
9 (1), 53-59.
Retirement Preparation Of The Nonfarm Self-Employed
Despite growth in the numbers of self-employed workers, there is
little research on the retirement planning 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 from a survey mailed to a convenience sample indicated the largest
amounts of annual savings were in stocks and business equity and the smallest
amounts were in Keogh plans. Self-employed workers tended to have larger
total retirement savings if they were older, had higher income levels,
and had conducted some retirement planning activities.
Key Words: Retirement, Saving, Self-employed, Financial planning,
An earlier version of this article won a Best Article award
from the Certified Financial
Planner Board of Standards
“Retirement Savings of Nonfarm Self-Employed Workers: An Exploratory
Study” in Consumer Interests Annual, Volume 43, 1997.