Factors Affecting the Acquisition and Holding of Retirement Funds: A Study of Ultra-Small Business Owners

摘要

Several studies relating to small business owners and their retirement planning were reviewed to determine if there is any correlation between education, gender, age, ethnic background, age of the business, future plans for the business, and/or type of business to the holdings of retirement savings. As a result of the review, a study was done that explores these factors and included two previously unstudied variables; U.S. citizenship and business plans. More specifically, if the owner writes a business plan, is he/she more likely to have retirement savings? The analysis proves that this is a contributing variable. The study also, suggests that there is a largely untapped market for financial institutions to consider, the retirement planning and education for the small business owner.