How to think about retirement if you don't have a traditional full-time job

The tactics — and the concept — may be radically different.

Image created via Midjourney

Retirement planning is typically framed around full-time employment. 401(k)s or pension plans are great benefits for people in the corporate world. They can open their monthly statements and watch their retirement accounts grow steadily over time.

For the 16.8 million people in the U.S. who are self-employed (myself included), retirement looks different. Over the past two years, 1.4 million people have turned to self-employment. Whether that’s due to layoffs, voluntary quitting, or other reasons, the number is steadily increasing — and there aren’t a lot of resources available for people trying to figure out retirement planning on their own.

While retirement is not something self-employed people can ignore, the whole concept of ending work on a certain date and drawing money from your retirement accounts may not be what some people have in mind.