Pensions for the Self-Employed: Investing in Your Retirement

Planning for retirement as a self-employed person can be challenging. Self-employed individuals have no access to employer-sponsored retirement plans like 401(k)s or pensions and must make their own arrangements for saving for old age. The growing number of people who are self-employed needs to begin saving for retirement as soon as possible. This post will discuss the value of pensions for the self-employed and offer advice on how to save for retirement in a tax-efficient manner.

Let’s Start with the Basics: What Is a Pension? How Does It Work? What Are Its Benefits?

A pension is a retirement plan that guarantees a certain amount of money each month to a retiree after they reach a certain age. It’s an investment account where money is put away gradually so that it can grow into a sizeable sum by the time the investor retires. Employees also have the option of self-funding their pensions.

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