June 24, 2010
I am self employed, what are my retirement options? I am planning to retire in the next three years?
stlllllllll asked:
I have been living in the U.S for 5 years, I have no W-2 wages since I am self employed. I have some social security credits but is that enough to retire. What is the minimum retirement or pension if I retire. I am 57 years old.
Thanks in advance.
Sam
I have been living in the U.S for 5 years, I have no W-2 wages since I am self employed. I have some social security credits but is that enough to retire. What is the minimum retirement or pension if I retire. I am 57 years old.
Thanks in advance.
Sam
Comments on I am self employed, what are my retirement options? I am planning to retire in the next three years?
Michaela
I’m assuming you have been paying self-employment taxes - which would entitle you to social security benefits when you are 65.
Generally, SS benefits are not enough to live on.
Your “retirement options” will depend on what measures you took to plan for your returment. Did you set up and contribute to returement funds like an IRA? Have any investments? Your options will depend entirely on what you’ve saved, and how your investments are doing.