Resources for Helpers: Retirement Savings

As independent business owners, users of the Taskrabbit Delivery Platform who are registered as Helpers and Hands have the opportunity to proactively build out their retirement savings. 

Why is a Retirement Savings Plan Important?

A retirement savings plan is an investment vehicle designed to help  accumulate wealth over the long term. By creating their own plan and contributing regularly, Helpers and Hands can benefit from:

• Tax Advantages: Most retirement plans offer tax benefits, either through deductions (lowering taxable income) or by allowing money to grow tax-free.
• Compounding: Investment earnings can generate their own earnings, which can lead to exponential growth over decades. Starting early is a powerful strategy for retirement saving.
• Financial Security: A dedicated retirement account can help provide financial security in retirement.

Retirement Savings Options

There are several different retirement savings opinions that may be available to Helpers and Hands depending on their specific financial circumstances. We recommend discussing specifics options with a financial advisor.

Below you’ll find examples of some retirement options you may consider:

• IRS Retirement Plans for Self-Employed - The government resource for detailed rules, contribution limits, and eligibility requirements for all self-employed retirement plans (IRA, SEP, Solo 401(k)).
• Fidelity Investments and Charles Schwab - Major brokerage firms that can open and manage these accounts. Many major firms offer self-employed retirement plans.
• CalSavers (California) - Some states offer simple IRA programs for workers without employer-sponsored plans, including the self-employed. Check if your state offers a similar program