As Wall Street pushes higher, a pandemic-weary Main Street is relearning how to manage cash flow with the hope of keeping its retirement dreams alive.

Self-employed Americans, and the people working for them, account for roughly 30% of the nation’s workforce.

In the best of times, putting aside money for retirement was a challenge for this group. Before the pandemic, just 13% of people who run a single-person business set aside money in a workplace retirement plan. By comparison, 72% of people in large companies participate in retirement plans.

In recent weeks, the Dow Jones Industrial Average crossed 30,000 for the first time. And this year, the Standard & Poor’s 500 index has picked up more than 10% through November. But some self-employed Americans are just reading about the rally, not participating. 

There’s no shortage of retirement plan choices and programs. But the uncertain outlook has forced many to build larger-than-normal cash reserves to help manage through any operating restrictions or shutdowns.

If you’re a self-employed business owner who’s struggling with managing cash flow while keeping an eye on your future, reach out to your trusted financial professional. They may offer some guidance on how to set priorities so both goals can be within your reach.

This information should not be construed by any client or prospective client as the rendering of personalized investment advice. All investments and investment strategies have the potential for profit or loss, and there can be no assurance that the future performance of any specific investment or investment strategy including those discussed in this material will be profitable or equal any historical performance levels. Investment strategies such as asset allocation, diversification, or rebalancing do not assure or guarantee better performance and cannot eliminate the risk of investment losses. Any target referenced is not a prediction or projection of actual investment results and there can be no assurance that any target will be achieved. Stacy Bush is with Bush Wealth Management.