While small business owners over the age of 50 are significantly less likely than employees to have pension or retirement plans, including 401(k)s, on their current job, they do tend to gravitate more towards IRAs and Keoghs.
That's one of the findings from a new SBA study, Retirement, Recessions, and Older Small Business Owners, which examined the retirement savings decisions of small business owners nearing retirement age, with particular emphasis on the role of economic downturns.
While some may not have certain retirement plans, the research showed that small business owners tend to have significantly greater individual retirement accounts and Keogh plan savings than employees.
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