AC

No pension, no retirement savings — and no solid plan for how they will fund the latter part of their life. That's the dire situation for many small-business owners. About a third of small-business owners do not have a personal or business-sponsored retirement plan such as a 401(k), a SEP IRA or deferred annuity, according to a new survey from non-profit the American College. Nearly the same number haven't estimated how much money they need for retirement. Many workers feel unprepared for their golden years. But a lack of retirement planning by small-business owners is stunning because they "have no one else to rely on," says Mary Quist-Newins, director of the State Farm Center for Women and Financial Services at the American College. Unlike government or company employees, who are eligible for 401(k)s or similar plans, small-business owners are often solely responsible for their retirement planning, she says. And that can be a difficult task for a business owner who is...