NextAvenue: Retirement Options for the Self-Employed: The Single 401(k)
Author: Siân Killingsworth / 3 May 2019
To kickstart Ubiquity’s celebrations of National Small Business Week and San Francisco Small Business Week our founder and CEO Chad Parks penned an article in Next Avenue about retirement savings options for the self-employed.
Ubiquity is proud to champion those who dare to dream beyond the 9-5. And while there are many perks to being self-employed — flexible hours, the possibility of working from home and, of course, being your own boss. But one major downfall that has historically burdened solopreneurs is the lack of access to traditional employer-sponsored retirement plans, such as a 401(k).
Because of this, paired with misconceptions that saving for retirement is too expensive, many freelancers and others in the gig economy are drastically undersaving for retirement. This is a mistake they can’t afford to make.