Manta found that over a third (34%) of those surveyed don't have a retirement plan.
Among this group, the reason most commonly cited (by 37% of those respondents) was that they're simply not generating enough revenue to save.
However, the new rules do not change existing retirement savings incentives.
The rules around 401(k)s, IRAs, Roth IRAs and other retirement savings accounts will not change as a result of the new tax rules.
In answer to a separate question, 35% of respondents said they were depending on income from the sale of their businesses to retire.
We're all familiar with the old adage about the dangers of putting all your eggs in one basket, and this is a textbook example.The last thing any entrepreneur wants is to be forced into divesting at a fire-sale price.If you don't have a retirement plan, you could easily find yourself forced to sell under less-than-optimal circumstances.Is there a succession plan in place that will insure business continuity?And don't forget market conditions, which determine if a business can be sold at an attractive price.Profit-Sharing plans reward employees with a percentage of company profits, although contributions do not have to be based on profits.Employer contributions are discretionary and provide tax benefits for both the employer and employee.We have a variety of small business retirement plans that offer self-employed, entrepreneurs, and sole proprietors and their employees, tax-advantaged ways to save for retirement.And with flexible funding, tax-deductible contributions, a wide range of investment choices, and higher contribution options than a traditional IRA, we can help you find a plan that's right for your business needs and retirement goals.Further confusing the issue of retirement funds in 2018 are new tax laws approved by Congress at the end of 2017.Prior to passage of the GOP tax plan, many feared how the changes to the tax law could impact retirement funds and 401(k)s in particular.