More Business Owners Worried About Retirement, Says Survey

Saving for retirement is a worrisome topic for more small business owners, according to the American Express OPEN Small Business Monitor, a semi-annual survey of business owners/managers of companies with fewer than 100 employees. 

The latest findings, released this week, show more than eight-in-ten (81%) business owners are worried about their ability to save for retirement — up from 74% last spring.  The average amount estimated for retirement is $1,205,000, slightly less than the $1,286,000 estimated by respondents in spring 2007.

The survey broke down its findings in a number of ways, including small business owners by generation.  Among these findings:  Baby boomers are most likely to have cash flow issues, Generation X is most likely to use online marketing techniques for business and Generation Y has the most positive outlook on the economy. 

Here’s a news release with other highlights from the survey.

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About Lynne Strang

I'm a writer who blogs about 40-and-older business owners. I am also the author of "Late-Blooming Entrepreneurs: Eight Principles for Starting a Business After Age 40." Outside of work, I enjoy reading, cooking, vegetable gardening and exercise (especially cycling).
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