"Maximizing Retirement Savings through Solo Gigs"

Becoming a solo entrepreneur in the years between leaving an employer and claiming Social Security can give your savings a boost. Entrepreneurship provides a bridge of income to a later retirement — that income can help you delay your Social Security claim, boosting those benefits. It might also help you save more for retirement. However, entrepreneurship comes with some financial challenges, such as financing your living expenses while you wait for the new business to start earning revenue. Additionally, you're responsible for the full cost of benefits your employer subsidized, such as Social Security payroll tax contributions, health insurance, and retirement saving accounts.