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Small Business Retirement Planning

Posted Oct 23 2008 6:16pm

A small business owner's gender may affect his or herretirement outlook, according to an online survey from ShareBuilder, a Bellevue, WA brokerage and retirement plan provider, and Harris Interactive.

Baby_boomer_women_6 Nearly 60% of female business owners say they are not confident they're saving enough for retirement, compared to 41% of men.  What's more, 22% of women entrepreneurs have no retirement, compared with 10% of men.  And only 25% of women who don't offer retirement benefits have talked to their employees about them vs. 45% of men.  Both sets of entrepreneurs run similar-sized companies.

The bottom line is that women entrepreneurs should pay more attention to retirement planning.  "Women need to be confident as men about retirement, and as proactive," says Jeff Seely, chairman and chief executive of ShareBuilder.

Source: BusinessWeek, SmallBiz, Winter 2006

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