08 May Your retirement plan needs to work as hard as you do.
You Run the Business. Who’s Running Your Retirement Plan?
If you’re self-employed, your retirement plan needs to work as hard as you do. Explore top options for women entrepreneurs.
Why Self-Employed Women Need a Retirement Plan Now—Not Later
Running a business takes grit, drive, and vision. But when you’re focused on scaling your company, it’s easy to put retirement planning on the back burner. The challenge? Entrepreneurs don’t have the luxury of employer-sponsored 401(k)s or pensions. You’re responsible for creating your own future paycheck.
If you’re a self-employed woman, you’re not alone. According to the U.S. Census Bureau, women now own 42% of all U.S. businesses—but far too many still lack a solid retirement plan. Let’s fix that.
The Risks of Ignoring Retirement Planning
1. No Built-In Safety Net
Without a formal retirement account, you’re missing out on tax-deferred growth and compounding interest. Time is your greatest asset—don’t waste it.
2. Business Value Isn’t Guaranteed
You may hope to sell your business someday, but market shifts, health issues, or unexpected life events could derail that plan.
3. Financial Freedom Shouldn’t Wait
A proper retirement plan gives you choices, not just income—like when to step back, reinvest, or retire on your terms.
Top Retirement Options for Women Entrepreneurs
SEP IRA vs. Annuity: What’s Right for You?
| Feature | SEP IRA | Fixed Indexed Annuity |
|---|---|---|
| Contribution Limit | Up to 25% of income or $66,000 (2023) | No annual IRS contribution limit |
| Tax Benefits | Tax-deductible contributions | Tax-deferred growth |
| Market Risk | Yes | No (with guaranteed downside protection) |
| Lifetime Income | No | Yes |
Other Flexible Retirement Tools:
Solo 401(k) for higher contributions and Roth options
Simple IRA if you have a few employees
IUL (Indexed Universal Life) for tax-free access and legacy building
Why Annuities Make Sense for Business Owners
The RetirementPAYDAY Annuity from The Policy Shop offers:
✅ Predictable, guaranteed retirement income
✅ No market exposure
✅ Optional living benefits for chronic illness
✅ Protection for your family or business succession plan
Talk to The Policy Shop about retirement income for women business owners.
5 Quick Steps to Start Building Your Retirement Plan
✅ Open a SEP IRA or Solo 401(k)
✅ Layer with a fixed indexed annuity
✅ Set a monthly automated contribution
✅ Review your plan annually
✅ Build income protection with IUL or annuity options
FAQs
Can I contribute to both a SEP IRA and an annuity?
Yes! You can use a SEP for tax-deferred savings and an annuity for lifetime income.
What if I don’t pay myself regularly?
Even small, consistent contributions add up. Annuities can provide a structured path to guaranteed income.
Is it too late to start in my 40s or 50s?
Not at all. Many entrepreneurs begin focusing on retirement after stabilizing their business.
Final Thought: Build Your Business and Your Future
Being your own boss is empowering—but don’t let retirement become an afterthought. You’ve built something great. Now it’s time to build a retirement plan that ensures you enjoy the rewards.
Talk to The Policy Shop about retirement income for women business owners.